|Investment Adviser Peter Schiff to Share Provocative Economic Outlook|
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."