Adam added that growth overseas has been better and has led the U.S. in this current cycle.
“We’re not looking for a robust recovery,” he said. “We’re looking for GDP growth next year of 3.2 percent—usually it’s around 5 percent.”
In the meantime, Boockvar said the dollar is weakening because asset inflation is "unofficial government policy."
“We saw that after the tech bubble and we’re seeing it now—to try to inflate our way to better times through a depreciating dollar,” he said. “So we’re depreciating our way to prosperity.”
Boockvar said the best way for investors to protect themselves under that scenario is to take part in the reflation trade by buying hard assets, commodities and the producers of these commodities and staying away from ex-dollar assets.
“If you are selling most of your goods overseas, you are going to benefit,” he said. “[But] we will, at some point, reach a moment in time where foreigners will say ‘Do I want to be investing in the U.S. market?’ and that time will come if you remain on this current path.”
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No immediate information was available for Adam or Boockvar.
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