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Investment Adviser Peter Schiff to Share Provocative Economic Outlook

Russ Wiles
The Arizona Republic
January 6, 2012

Peter Schiff, a provocative investment adviser who holds to a dire prediction for the U.S. economy, will discuss economic issues, Federal Reserve policy, the dollar, the investment outlook and other topics during a two-hour talk Monday in Scottsdale.

Schiff, who recently ran for the Senate and is the CEO of brokerage Euro Pacific Capital in Westport, Conn., sees the debt-laden economy ripe for a new tailspin that will be "so much worse than what happened in 2008."

The company has an office in Scottsdale.

In an interview, Schiff -- who is also a radio and TV commentator and author -- criticized government stimulus measures, including Federal Reserve efforts to keep interest rates artificially low.

"The Federal Reserve is helping the government postpone the tough political decisions," he said. "The longer we postpone, the bigger the problems will be."

Schiff said he expects a new economic slump that will be marked by a sharp decline for the stock market, a new wave of bank failures and real-estate problems, and erosion of the dollar. He favors gold, silver and some foreign securities. He also suggests people prepare by stockpiling food and ammunition.

"We need to go back to the principles of free-market capitalism," said Schiff, who ran unsuccessfully in the 2010 Republican primary for a U.S. Senate seat in Connecticut.

He criticizes government regulation, spending and borrowing. He bantered with members of the Occupy Wall Street movement in Manhattan, N.Y., last year, saying he's part of the wealthy 1 percent.

His talk at the Scottsdale Center for the Performing Arts will start at 6 p.m. The cost is $20, with attendees receiving a copy of Schiff's book, "How an Economy Grows and Why It Crashes."

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Investing in foreign securities involves risks, such as currency fluctuation, political risk, economic changes, and market risks. Precious metals and commodities in general are volatile, speculative, and high-risk investments. As with all investments, an investor should carefully consider his investment objectives and risk tolerance as well as any fees and/or expenses associated with such an investment before investing. International investing may not be suitable for all investors.

Dividend yields change as stock prices change, and companies may change or cancel dividend payments in the future. The fluctuation of foreign currency exchange rates will impact your investment returns. Past performance does not guarantee future returns, investments may increase or decrease in value and you may lose money.

Our investment strategies are based partially on Peter Schiff's personal economic forecasts which may not occur. His views are outside of the mainstream of current economic thought. Investors should carefully consider these facts before implementing our strategy.