Peter Schiff recently appeared on Dan Bongino’s Unfiltered on Fox News to talk about the economy, inflation, the stock market, the Federal Reserve and investing in 2023. Peter said the recession that everybody denies exists is going to get worse, and so is inflation.
Some people in the mainstream seem to think a big stock market rally is in the cards. Peter said the optimisim is unfounded.
I don’t think it’s going to be a good year for the stock market. I think there are going to be some stocks that do well. Unfortunately, most Americans don’t own those stocks.”
Peter said the ones that most investors do own are going to go down.
The very popular stocks that a lot of people have crowded into during the bubble — these stocks, even though they’ve come down a lot in 2022, they still have a long way to fall. And I think there’s a lot of risk in 2023, not just in the market, but in the economy.”