Peter Schiff Forecast for 2009

As you may have seen, Peter Schiff has an excellent track record in forecasting the economy. Peter Schiff uses Austrian Economics and believes in the Austrian Business Theory.



Peter Schiff correctly asserts that the recent rally in stocks is simply a rebound of last year's collapse in equities. He also mentions that it's great opportunity (probably once in a lifetime opportunity) to buy gold and foreign stocks since they are heavily oversold (Marc Faber mentioned on the post below that commodity prices are hovering at 2001 levels, meaning commodities will outperform paper assets)
Peter concludes with the point that even though the Dow may rise, it will only be paper gains and not gains in real terms.

Here's the chart of the adjusted monetary base: (click to see a larger image)