Financial expert Peter Schiff explains why the establishment is clueless about just how bad the impending recession will get.
Just how bad will the coming financial crisis be? “It’s going to be awful!”
I don’t know that every element of Schiff’s predictions is true (perhaps, but we’ll have to see). But there is no doubt the recession is going to be worse than the previous one. George Bush and then Barack Obama appointed Treasury and Federal Reserve officers who believe that the key to economic growth was artificially low interest rates. In fact, that is what our financial government complex has been doing since the Clinton Administration. That’s part of the reason everyone is in denial about just how bad the next crash will get. They don’t realize that we are still dealing with economic problems that began in the nineties. This isn’t merely a correction of irrational exuberance that started in 2008.
This, by the way, is why it is dishonest for #NeverTrump propagandists to claim that, if Donald Trump is elected President we will experience a recession in 2017. It is technically true. It is just as true that if Hillary Clinton is elected President we will experience a recession in 2017. Unless the planet explodes, I can pretty much guarantee a recession in 2017. It may have already started.
Unlike Clinton, Trump actually acknowledges that we are entering an economic storm. I doubt any President will be able to stop it, but at least he is honest about the problems we face.
When Trump made his remarks at the beginning of April, the mainstream media found economists to deny his prediction and portray Trump as clueless.
Now, however, the talking heads at CNBC are saying they agree with Peter Schiff. So who is really clueless, Trump or the mainstream media?