Peter Schiff: The Economy Is Not Volatile. “This Is The Beginning of a Much Bigger Crisis!”
In a recent interview with the media outlet, RT, Peter Schiff declared that the talking heads who call the economy “volatile” are wrong. Schiff says the economy isn’t volatile, it’s a bubble, and “this is the beginning of a much bigger crisis.”
“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. And 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 crisis, of a much greater recession than the one that we experienced back in 2008.” -Peter Schiff, via Seeking Alpha
Schiff also said he doesn’t believe the Fed will continue to raise interest rates either. He thinks that they will drop rates down to practically zero again once the recession has officially been declared, making a bad situation even worse.
“That is going to take a very bad situation and make it much worse because it’s not going to work like it did last time in that it blew up a bigger bubble. This is going to blow up in everybody’s face. It’s not going to cause real estate prices to go up or stock prices. It’s going to cause food prices to go up, gasoline prices. It’s the cost of living that’s going to rise, not the stock market. And so this is going to be an inflationary recession.” -Peter Schiff
Schiff also warned of a Democrat win in 2020 thanks to president Donald Trump taking responsibility for the current economic bubble. Therefore, when it pops, Democrats will be able to blame the entire crash on Trump. Schiff said the people aren’t going to vote for four more years of Trump during a recession. They’re going to vote for socialism, “Which is going to give us four more years of hell.”
“He [Trump] put his brand on a bubble and when that bubble pops, it’s going to be very easy for the Democrats to blame all the problems on Trump and that’s what’s going to enable them to win in a landslide in 2020.”
This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.
Source: http://www.shtfplan.com/headline-news/peter-schiff-the-economy-is-not-volatile-this-is-the-beginning-of-a-much-bigger-crisis_01142019
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