Peter Schiff: will Biden or Trump win? Outcomes for markets, taxes, inflation
The odds are that former Vice-President Joe Biden will win this year's presidential election, and the results for the economy will be more stimulus, higher taxes, and rising inflation, said Peter Schiff, senior economist and chief market strategist of Euro Pacific Capital.
"I think the outcome is going to be a Biden win. I also think that it's more likely than not that the Democrats will take the Senate as well, giving them control of both Houses of Congress and the White House. As reckless as the Republicans have been with borrowing and spending, I expect the Democrats to be even worse," Schiff told Kitco News on the sidelines of the New Orleans Investment Conference.
0:23 - Presidential election outcome4:00 - Trade war with China6:23 - Investment implications of election8:00 - Inflation and stock markets12:30 - U.S. dollar14:06 - Gold replacing the dollar17:20 - Gold price reaction to election18:40 - Fiscal stimulus
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, Wall Street Unspun. He's also the author of the bestselling books: Crash Proof 2.0
