U.S. GDP Growth Slowing Down, Sell Stocks

The Chicago PMI just went in contraction from 52.5 to 49.0. This confirms all the bad news we already had in the previous months.

I expect that with this lower PMI, the ISM manufacturing PMI composite index (NAPM) will go down too.

And with that drop, the GDP growth will most certainly drop too. I would be very cautious if you are still buying stocks, thinking it will go higher.

Peter Schiff in Chicago 2012

Highly recommended market outlook by Peter Schiff at Chicago Symphony Orchestra Hall 2012.