Peter Schiff: “All Evidence Points to Recession”
In an exclusive interview with Jimmy Mengel of Outsider Club, Peter Schiff talks about the inevitability of another major recession thanks to the Fed’s unending stimulus. Enjoy.
I think [the Fed will] step on the gas and roll [QE] up to 125 billion or 150 billion. Because it’s like drugs and a tolerance. The economy is so addicted to QE, that the more you maintain it, the more the economy needs to stay high. As the bubble gets bigger, the more air you need to sustain it.
So I don’t think $85 billion is enough. They’re going to have to take it to $125, $150, $200 billion, $250 billion… They’re going to have to do it bigger and bigger. The minute they stop, it’s going to implode.
The more easing we do now, the bigger the government gets, as the national debt gets bigger and bigger. The Fed has to monetize more debt.”
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