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Schiff: Inflation Driving Economy

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  • Description

    Euro Pacific Capital’s Peter Schiff on the projections for economic growth.

  • Duration 1:37
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Called for a bigger growth this quarter after reading yesterday's report on retail -- and I have to ask that they read past the first paragraph.

Joining us by phone is Peter -- Peter I'm sure you're buying into all of this -- -- optimism marching.

I'll absolutely.

Else all with the increase in retail sales -- -- to result in prices going not sure people are spending more money.

Because Spain's cost more.

In -- -- the increase in import prices maxed increase.

In retail sales and of course if you look at -- savings data.

They came out last week where -- -- rate plunged.

Power Americans of -- higher priced gasoline and higher price -- -- borrowing money they're digging into their savings are struggling -- the make ends meet.

So having said that though Peter.

Why is the market up why does Wall Street -- established firms on Wall Street they feel like -- they seem to fill so much more confident now than they did just a few weeks ago.

Well -- they felt very competent -- -- financial quite a few 1008 PP -- spot box up the new eyes but I think what's driving the market.

Is inflation the same thing that's enabling consumers to spend is is it is pushing up prices.

Because the government has got interest rates are -- better interest rates too low they're pretty all the money.

And beer or what he would do you can't just go down with the -- by holding a dollars -- holding treasuries you gotta get into something that the -- can't -- -- easiest thing for most -- despite stocks.

Our -- in this in the you know we've appreciate -- warnings and a -- gonna have Gilmore but we've got to cut it short now thanks a lot leadership.

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