Felix Zulauf: Europe’s Recession Will Worsen Next Year (originally aired 9/7/12)
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Jim welcomes back legendary asset manager Felix Zulauf from Switzerland. In a very timely and powerful interview, Felix covers many important issues, foremost among them the European debt crisis. He believes politicians will not solve the crisis, leaving the European Central Bank (ECB) to begin massive money-printing and devaluing the Euro. Felix sees the ECB balance sheet expanding even more dramatically than the Fed’s next year. He also sees Greece exiting the Euro, possibly even late this year, and next in line would be Spain and Portugal. Felix also forecasts the end of the great bond bull market, and advises selling all bonds over 5-6 years in maturity. He sees a big move out of bonds and into real estate and stocks. In the US, the economy only appears to be healing because of its 9% deficits of GDP. Subtract the deficit spending, and the US is in recession. As to gold, Felix sees decisive new highs for gold in 2013.
About James J Puplava CFP
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