Peter Schiff and guests on The Kudlow Report, April 17 2009. A variety of viewpoints from guests that suggest the economy has hit a generational bottom and is en route to recovery, to Schiff, who believes there is more pain to come.
Â We haven’t turned any corners yet. Unfortunately we’re still headed in the same wrong direction. We’re continuing to go deeper into debt, we’re subsidizing bad behavior, we’re bailing out companies that should fail, government is growing like a cancer, and more importantly, as Don said, we’re abandoning free market principals…We’re goosestepping down the road to serfdom.
I think it’s a combination of 70’s and 30’s. That’s why i’ve been talking about an inflationary depression. That’s what I think is coming.
While we may have experienced a market rally over the last 6 weeks, it seems that all of the underlying economic indicators are suggesting that this is a false-flag recovery and no such “turning of the corner” has actually happened.