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Peter Schiff: Stagflation Finally Revealed [Video]

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Small Business Lifestyle

Via SchiffGold.com,

In this week’s episode, Peter covers the dismal figures released Thursday and Friday, horrible tax policies, and the appalling lack of transparency in our government.

Stagflation is back in the economy, as last week’s GDP and PCE figures reveal. The US GDP growth metric for Q1 was only 1.6%, much lower than expected. To make matters worse, the PCE (Personal Consumption Expenditures) price index came in hotter than expected, staying steady at 2.8%.

Peter has been predicting stagflation for a while, and now that it’s here, he sees mining stocks as an opportunity:

“That’s one of the reasons I’m so over-weighted in mining stocks, apart from the valuation, is if there is stagflation, you don’t have a better economic environment. Because you have inflation that the Fed can’t fight, because you have a weak economy. So the Fed is reluctant to raise rates, because it’ll weaken the economy further. … Plus, the weak economy widens the budget deficits. …

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