Ben Bernanke and Alan Greenspan absolutely destroyed America - that's a view both great analysts share.
Peter Schiff, a famous Fed critic, and Mike Maloney, well-known author of the best selling precious metals investment book "Guide to Investing in Gold and Silver", published in 2008, met up in California to discuss some disturbing issues.
Schiff keeps wondering why the Fed persistently pretends it had nothing to do with the housing market bubble and the previous financial crisis. And he concludes that the central bank officials hardly see the coming crash.
Maloney supports his view, and in order to demonstrate it is correct, he shows a chart of Value of manufacturers' new orders for consumer goods industries from the Fed website. There was a plunge back in 2008, and the chart shows a similar fall is happening right now. Maybe the air is coming out of the bubble. But this graph, along with a number of others, suggests that the U.S. economy is sliding into recession.
The video dates back to June 2015, but it is still up to date, as the Fed has not dared to increase rates yet, and the global economy is still weakened. Peter Schiff argues they will keep talking and promising, but the Fed's December meeting is just two weeks away...
Credit: mql5.com
No comments:
Post a Comment