Fed’s strenuous stress tests

While households have reduced their Coach Outlet leverage, government debt has ballooned on the back of stimulus programs, but, argued Schiff, the government’s debt is the people’s debt, thus Coach Outlet Online overall leverage has actually increased.
In CNBC interview Wednesday, Schiff called Winter Clothes Bernanke “public enemy number one” and warned that banks would crash if the bond market collapses. While most major banks, Red Bottom Shoes including the likes of JPMorgan, Wells Fargo, and even Bank of America, passed the Fed’s strenuous stress tests, which stipulated a massive Red Sole Shoes decline in equity and real estate prices, Schiff still believes they’re in trouble.
“The Fed didn’t ask the banks to Red Bottom Heels tress test a big drop in the bond market because that’s what coming, Louboutins Outlet and the banks would fail that,” he said.Schiff cites the rising price of gold as Christian Louboutins Outlet evidence that U.S. dollar debasement, and inflation, are higher than the Fed, and consumer price data, suggest.