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Rick Sanchez: Most economists are in a state of almost dismay over what to expect from this economy especially in this coming year.December was atrocious and volatile. The closest we have to a consensus on the economy is the world volatility.In today's headlines we see that nobody in this economy is immune from these surges and drops.Apple (APPL), yes Apple saw the single bingest day drop in six years on fears of falling sales and revenues. For more on this we're joined by one of my favorite guests, Peter Schiff, CEO of Euro Pacific Capital.

Rick Sanchez: Peter, what do you think is the single driver which worries you the most right now about this volatile economy.

Peter Schiff: Well it's not a volatile economy, it's a bubble economy. Thanks to the Federal Reserve, they inflated an even bigger bubble on purpose, than the one they inflated by accident that popped in 2008. So the economy is in much worse shape structurally today than it was before it fell apart the last time. So this is the beginning of a much greater crises, a much greater recession than the one we experienced in 2008.

Rick Sanchez:You said the Fed is doing something wrong, what is the Fed doing wrong?

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