Wednesday, January 1, 2014

Janet Yellen is Going to Increase the Money Printing

She's going to increase, she's going to crank it up. She's going to do more stimulus. And, remember, Janet Yellen, despite the way the media tries to redefine her, was just as clueless as everybody else. She never warned about anything with respect to the housing market or the financial crisis.

In fact, she dismissed the warnings that other people were making. She said there was no bubble. She thought real estate prices would keep on rising and she thought that even if they went down, which would have surprised her, it wouldn't hurt the economy. That's how little she understood about the economy or real estate market. So I think it's very dangerous to have Janet Yellen as the Fed chairman.

It is going to be more of the same. That's why the economy's going to continue to get worse.

- Peter Schiff via a recent CNN interview