Peter Schiff says that booming stocks markets are not a reason to be optimistic

by | Aug 4, 2009 | Peter Schiff

Euro Pacific Capital CEO Peter Schiff in his daily video blog discusses the global market rally, the end of the recession, and the real economy.

The Dollar made a new low today for the move. It closed with a 78 handle. This is the lowest its been since September of last year. It’s the lowest, certainly, of this calendar year. And, as the markets are rising, people are assuming that this indicative of the problems being largely behind us, that the recession is coming to an end, and that this is reason to be optimistic about the US economy. This is not the case at all.

I find this to be the case in my day to day discussions with friends and family. “The stock market is doing great,” is what I  hear everyone saying. And they assume the stock markets and the economy are one in the same. Readers of SHTF Plan and web sites in our blog roll know better.

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