"On the so-called “recovery,” money manager Schiff says, “We had a recovery in the stock market, asset prices went up. We had a recovery in the real estate market, but we didn’t have an economic recovery. Did we recover the jobs that we lost—no. We recovered jobs, but not the ones that we lost. We lost higher paying full-time jobs, and we gained lower paying part-time jobs.”
On the next financial calamity, Schiff says one is on its way. It’s just a matter of time. Schiff says, “I know it’s going to happen. The problem is the further into the future it is, the worse it’s going to be because until it happens, the problems are just getting bigger. They are not getting solved. . . . The further into the future the crisis comes, the bigger the problems are when we are confronted with them. So, I hope something happens this year because if it doesn’t, it is going to happen in a latter year, and it’s going to be worse.”
On the next financial calamity, Schiff says one is on its way. It’s just a matter of time. Schiff says, “I know it’s going to happen. The problem is the further into the future it is, the worse it’s going to be because until it happens, the problems are just getting bigger. They are not getting solved. . . . The further into the future the crisis comes, the bigger the problems are when we are confronted with them. So, I hope something happens this year because if it doesn’t, it is going to happen in a latter year, and it’s going to be worse.”
Peak Gold: 10 Remarkable Gold and Silver Trends Going Into 2015.
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