Sunday, August 28, 2011
Peter Schiff : I think the S&P is going to downgrade again
Peter Schiff : “The dollar used to be the safe haven, Treasuries used to be the safe haven, well if you are downgrading U.S. Treasuries, obviously they are not the safe haven anymore,” “For those people who believed foolishly that Treasuries were the safe haven, S&P is finally saying they’re not,” he continued. “In fact they (Treasuries) are on negative watch for a reason. I think S&P is going to downgrade again … by then, I’m sure Moody’s and Fitch will have also downgraded U.S. Treasuries.” - in www.beaconequity.com
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.