icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Biden victory could fuel US money-printing & stock market bubble – Peter Schiff

Biden victory could fuel US money-printing & stock market bubble – Peter Schiff
Victory for Democratic presidential candidate Joe Biden in the November elections would be bad news for the stock market and the entire US economy, veteran stockbroker Peter Schiff believes.

Discussing the possible outcome of the elections with RT’s Boom Bust, the investor said a Biden presidency would mean a much weaker economy and the Fed would have to unleash new monetary stimulus.

“So there will be a lot more inflation, and a lot more money-printing in the Biden administration than in the Trump administration,” he said. “We’ll probably have even more of that if Biden wins, than Trump. So that will provide more fuel for the stock market bubble.”

Schiff added that increased taxes on corporate earnings promised by the Democratic nominee would only exacerbate the situation. He explained that an increased tax rate will substantially reduce the value of corporations and their stocks, so it’s “going to take a massive amount of air to blow up a bigger bubble.”

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.