Author and economist Mark Skousen fears that a Hillary Clinton would only more of the same sluggish economy and dismal growth we’ve seen during the 8-year Barack Obama administration.

He also says the nation’s central bank is working extra hard to stoke inflation, and that’s why gold is rising again.

“The fact that bond prices are extremely low is taking into account that Hillary Clinton is probably going to be our next president, which means more of a sluggish economy and not a lot happening. No dramatic changes in government policy,” he told CNBC.

“It's more of the same that we've had over the last eight years. It's a little bit unfortunate, I think, for our country because we need to get strong economic growth and we're just not seeing it if we have a continuation of what we have seen over the last eight years,” said Skousen, Contributing Editor for the Franklin Prosperity Report, which is published by Newsmax.

“I think they (Federal Reserve officials) are working overtime to bring inflation back. Gold, which is finally moving, is the best indicator of inflation of future inflation. So we may see a return of inflation here if the gold market continues to rise. So that's what I'm looking at more than the bond market.”

Treasury bond yields in the U.S., the U.K. and Australia pushed to all-time lows Wednesday, while those in Germany and Japan dropped to unprecedented levels below zero. The average yield on the bonds in Bank of America Corp.’s World Sovereign Bond Index this week dropped below 1 percent for the first time, based on data going back to 2006, while almost $10 trillion of securities in the Bloomberg Global Developed Sovereign Bond Index yield less than zero. Yields move inversely to prices.

Bonds are rallying on speculation the British vote to leave the European Union will damp global economic growth, driving demand for the safest assets. The Federal Reserve is losing confidence in its need to raise interest rates as officials face rising uncertainty about the outlook for growth at home and abroad, the minutes of its most recent meeting issued Wednesday indicate.

“I got out of bonds several years ago. I thought the top had been reached. But, obviously, I was wrong. And look, you could have done just as well in the stock market if not better. There are alternatives to the bond market (but you) have to look at where the puck is headed, not where it's at,” he said.

(Newsmax wire services contributed to this report).

Mark Skousen, a descendent of Benjamin Franklin, is a Presidential Fellow at Chapman University, editor of Forecasts & Strategies, and producer of www.freedomfest.com.

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