Here's some fodder for you bears out there.

Peter Schiff, CEO of Euro Pacific Capital, told TheStreet the "[Janet] Yellen put" in the markets could expire under President Trump. "I don't know if the Fed has much love for Trump," he said, adding that the Fed had the markets' back during the Obama Administration.

"Maybe the Fed would be happy to see a bear market that could be blamed on Trump." Schiff thinks the markets could easily correct 20%.

Schiff added, "the stock market is a bubble and economy is a disaster."

One black swan event Schiff sees is the notion of investors abandoning the euphoria over Trump's presidency, which helped fuel the stock market rally this year.

"We've had a huge move up since the election of Trump even though prior to the election the expectation was if Trump won it [would be a disaster for markets]," he said.

When asked if the two straight quarters of double-digit earnings growth has sparked the rally in stocks this year, as opposed to solely Trump, Schiff pointed to earnings headwinds in the retail sector.

The S&P 500 is up 10.5% since the start of the year.

Watch the full interview with Peter Schiff:

More of What's Trending on TheStreet:

More from Opinion

It's Dumb to Think Legalizing Weed Is Still a Political Issue

It's Dumb to Think Legalizing Weed Is Still a Political Issue

AAP Exclusive: Cramer Says The President is No Longer on the Side of the Bulls

AAP Exclusive: Cramer Says The President is No Longer on the Side of the Bulls

Why It Makes Perfect Sense for Netflix and Amazon to Buy Up Movie Theaters

Why It Makes Perfect Sense for Netflix and Amazon to Buy Up Movie Theaters

2 More Reasons to Sell All Your Stocks and Run Away

2 More Reasons to Sell All Your Stocks and Run Away

Sean Hannity's Link to Trump Lawyer Raises Questions: Doug Kass Insider

Sean Hannity's Link to Trump Lawyer Raises Questions: Doug Kass Insider