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Peter Schiff: The Next Economic Crash Will Be ‘Far More Painful’ Than The 2008 Recession

Mac Slavo
October 15th, 2018
SHTFplan.com
Comments (22) Read by 3,647 people

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Economic guru Peter Schiff is saying that the next market crash will be “far more painful” than that of the Great Recession in 2008. With rising interest rates and tariffs spiking the cost of living, Americans will have some difficult financial times ahead.

“I think as Americans lose their jobs, they are going to see the cost of living going up rather dramatically, and so this is going to make it particularly painful,” Schiff said. “This is a bubble not just in the stock market, but the entire economy,” he told Fox News Business. Schiff is predicting a recession, accompanied by rising consumer prices, that will be far more painful than the 2007-2009 Great Recession.

President Donald Trump blamed the recent stock market woes on the Federal Reserve and the rising of interest rates.  Schiff said it isn’t entirely the Fed’s fault, however, because they have been acting “irrationally” for a very long time while slowly adding nails to the economy’s coffin. Trump said that the United States’ central bank is solely responsible for the worst stock market selloff since February, saying the Federal Reserve “has gone crazy.”

“I think the Fed is making a mistake. They’re so tight. I think the Fed has gone crazy,” Trump told reporters on his way to a rally in Pennsylvania on Wednesday. Schiff said the president is wrong about the Fed going “crazy” because the central bank has been acting irrationally for a long time. However, what Schiff did say, was that the Fed will pop their own bubble. “What is crazy is for the Fed to believe that they can raise interest rates without pricking their own bubble,” he said.

“All bear markets start off as corrections. I think this one is probably a bear market. It’s long overdue,” Schiff said on FOX News Business. Schiff said investors are on the edge of a precipice that foresees a bear market far worse than the stock market crash of 2008. “This is a bigger bubble than the one that blew up in 2008, and the crisis that is going to ensue is going to be far larger,” he said.

Schiff, along with other market experts, has criticized the government as well, for their obvious role in all economic crises. He’s warned about rising interest rates, the disaster the trade war will have, and the skyrocketing global debt which will all compound into a massive financial problem that’s inevitable.

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Author: Mac Slavo
Views: Read by 3,647 people
Date: October 15th, 2018
Website: www.SHTFplan.com

Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

22 Comments...

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  1. TharSheBlows says:

    Been any day now for the last decade. The Elitists will never let it crash on Trumps watch, because Trump will NEVER BAIL them out. Go ahead and crash it and Trump can confiscate all the Feds assets. MAGA Drain the swamp!!

  2. There is a Presidential candidate running in 2020. Patrick Little wants to send jus to Madagascar. He wants to stop sending financial aid to Israel. Little wants to give blacks reparations with ten years of Israel’s current US taxes diverted. Little wants to take back the uranium stolen from the USA which is illegally in Israel that got Kennedy assinated. And Patrick Little wants to take down The Federal Reserve Bank. Don’t laugh. He did pretty well in a Senate race garnering 100,000 votes.

    _

  3. Anonymous says:

    Anyone notice that Schiff always predicts something terrible on the verge of happening but never predicts anything good?

    Follow Schiff and you miss out on everything good when it happens, follow common sense and you come out ahead in both the good and the bad times.

  4. Frank Thoughts says:

    People are already crapping on the streets in most major cities. Just go for a walk in the downtown area and you get a whiff of that acrid and distinctive smell of human excrement mixed with urine. I don’t even understand why you would just crap in such uncomfortable places? If I was homeless I would go somewhere with nature and have a pleasant crap in the woods, not on a cold, wet pavement where others have done the same.

    But this is just indicative of how low these people have sunk, with no dignity (or smarts). When I was younger, the homeless would never get such an easy ride. Usually young punks would have beat the crap out of them or set them alight. Few would take the risks of staying on the streets for long.

  5. aljamo says:

    I read somewhere that plane loads of muslims are coming into the US at night by UPS. Sounds about par for the course, anything to heighten the desired havoc, stripping citizens of remaining rights leading to the fuhrer declaring martial law. Americans will cower in place at the fascist onslaught.

  6. George says:

    Ron Paul is sayimg much the same as Peter Schiff.Both are much more credible than anyone in DC.

  7. Stanny1 says:

    Obama was the one that brought plane loads of Musloids via UPS at night. Trump is trying to save us from the Jihad invasion.

  8. The Whole World saw the Biblical ‘Writing on the Wall’ from Daniel 5 for the 1st Time, at the same Time, with the 2008 Global Financial Meltdown-Economic Pearl Harbour even if they don’t recognize it as such.

    Belshazzar the king made a great feast to a thousand of his lords,(the 1%)and drank wine before the thousand.[…]
    They drank wine, and praised the gods of gold, and of silver, of brass, of iron, of wood, and of stone.
    In other words, it’s the Economy, Stupid!