Opposing Views: Byron Wien & Peter Schiff

By on July 12, 2008

This week Byron Wien said he believed the stock market was bottoming and should finish the year strong.

Also this week Peter Schiff is quoted as saying, “America’s ‘AAA’ rating has become a joke,” and, “I believe the losses from Fannie and Freddie alone could reach $500bn to $1 trillion dollars,” and, “the US government will not be able to meet repayments on its debt once interest rates rise.” Schiff also believes a collapse of confidence could set off a dollar exodus. Schiff has held bearish views for at least the past two years and has predicted a very serious recession for the last half of 2008.

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