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Peter Schiff: US Economy About to Collapse, Taking Down Dollar

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  • Peter Schiff: US Economy About to Collapse, Taking Down Dollar

    By CoyotePrime (Reporter)

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    “Tuesday’s US stock plunge following a massive selloff on global markets is seen by some analysts as a sign of more bad things to come. RT talked to veteran stock broker Peter Schiff to explore the issue in depth. After the dramatic early drop, US stocks recovered but finished lower after a wild day on Wall Street.

    By the closing bell, the Dow was down 126 points, or 0.5 percent, recovering most of its early losses. The Nasdaq closed down 0.4 percent, while the S&P 500 shed 15 points, finishing 0.6 percent lower.

    According to Schiff, who currently serves as the CEO of Euro Pacific Capital, the stock market is definitely looking like it’s heading for another bear market. ”All the signs are already there. Look at what’s happening out there.

    The stock market is falling, 40 percent of the S&P is already in a bear market. Look at homebuilders, the housing stocks, the financials, the retailers – all these are the same things that were happening in 2007 leading to that crisis,” the strategist told RT America.

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  • #2
    The next crash is going to wake America up.

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