Peter Schiff is WRONG!
For all you followers of Peter Schiff - I can tell you unequivocally that he is wrong. Mr. Schiff continues to fail to take into account market psychology. Yes, Schiff is totally right when he speaks about the fundamentals, but a person who does not invest ALSO with psychology will be left out on the lurch.
For example - Schiff argued for inflation in 2008. Normally, based on huge amounts of a fiat currency being poured down a gaping hole, he would be right. But like in past economic crises, he failed to realize the herd mentality that the dollar was a safe haven. The dollar strenghtened until this past March.
Maybe "Schiff is Wrong" is incorrect - more like "Schiff is Early". I strongly recommend staying in stocks for at least another two months. The bubble in equities is strong and will continue to strengthen. Schiff is right in that the economy is getting worse, but he's too early on his call.
Seriously, the FED has pumped trillions of dollars into the economy and the calls of hyper inflation have not yet occurred. Yes, they WILL occur - and when they do YES we will suffer greatly, but why miss out on the next bubble. Ride it while it lasts, and if you're real lucky, you'll get off just before the ride stops.
Good luck and good investing.