Financial Commentator Schiff: 'We're Going Back to Recession'

Thursday, 29 May 2014 06:59 PM

By Bill Hoffmann

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Inflation is on the rise, even though the government isn't admitting it, says Peter Schiff, a syndicated radio host and CEO and chief global strategist for Euro Pacific Capital, Inc.

"I think consumer prices are already rising much faster than the 2 percent that we have year on year from April. I think the average American knows this,'' Schiff told Dennis Kneale, guest host of "The Steve Malzberg Show.''

"When you go to the grocery store, when you pay your electric bill, when you pay your kids' tuition, when you get your health insurance bills, prices are going up a lot faster than the government claims and most Americans can feel it in their pocketbooks.''

Part of the problem, he said, is that the Fed is printing too much money and the nation is not producing enough domestically.

"The supply of goods for sale goes down and that puts upward pressure on price," Schiff said.

"So unfortunately, we're going to have a weak economy, we're going back to recession, but inflation is only going to accelerate.''



See the “Steve Malzberg Show” on Newsmax TV each weekday live by clicking here now.



© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rep. Erik Paulsen: Obamacare About to Hit Every American

Friday, 19 Dec 2014 18:41 PM

Minnesota Rep. Erik Paulsen says that every American is about to feel the effects of Obamacare when tax season hits in 2 . . .

FALN Victim's Son: Return 2 Cop Killers Living in Cuba to US

Friday, 19 Dec 2014 17:45 PM

Two cop killers brazenly living in Cuba must be returned to the United States now that new diplomatic relations have bee . . .

Gordon Chang: NKorea Didn't Act Alone in Cyberattack

Friday, 19 Dec 2014 16:58 PM

North Korea did not act alone in its devastating cyberattack on Sony Pictures, as President Barack Obama asserted on Fri . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved