Peter Schiff, the boss Fund Euro Pacific Capital, expressed in that spirit that the upcoming holiday season will be catastrophic with the economic point of view - based on AMarkets.
Allegorically speaking, everything will be as if Santa left you to wear instead of a gift burning embers - Schiff fantasizes. The first victim will be the retailers. By the end of the year Schiff expect massive layoffs in the segment. The only problem in the US economy, or rather, the only source of the problem - the US Federal Reserve. Feda monetary stimulus - a massive source of bubbles in all asset classes. Interestingly, Schiff does not expect growth rates in December, in spite of the reverse market consensus. Most analysts believe that the rate will be increased against the background of a great report on the labor market and low unemployment.
The current rally in the dollar - one of the largest bubbles, inflated FEDom, according to Schiff. And the bubble - the only tool that keeps the economy afloat. The dollar shot up to 6-1 / 2-month high against a basket of key currencies against the backdrop of the race for the high-stakes investors. At the same time, analysts Morgan Stanely as well as Peter Schiff, do not expect anything good for retailers this year. Sales severely slowed in Q4, despite the increase in the welfare of the majority of consumers. Triggers slowing - weak, albeit positive dynamics in the labor market, an increase in volatility in the stock market.