Peter Schiff of Euro Pacific Capital, who warned of a real estate bubble, stock market crash and the bursting of the bubble ahead of 2008 has another warning. Schiff says a global collapse is coming, and this time it won’t just affect stock markets.
It’s going to be a lot worse, specifically because of what the government did to artificially stimulate the economy in the aftermath of the 2008 financial crisis. Because the government came to the rescue by printing a lot of money, bailing out the banks, propping up the housing market, racking up trillions of dollars of additional debt so we could consume more stuff that we couldn’t afford and pay for it with borrowed and printed money, all we did is delay the day of reckoning. But in so doing we exacerbated all of the problems that make that day of reckoning necessary.
So yes, the next crash that’s coming – whether it’s 2013 or ’14 or a little bit later is hard to say for sure… we’ve got a much bigger collapse coming, and not just of the markets but of the economy. It’s like what you’re seeing in Europe right now, only worse.
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I would say the US economy continues to weaken towards the end of the year and the Fed ultimately comes through with QE3. It’s doesn’t work in the sense that it’s not going to strengthen the economy, but it will weaken the dollar. As the dollar weakens it’s going to put upward pressure on raw material prices, import prices. That’s going to cause margins to be compressed. Businesses will respond by reducing capacity, laying off workers and raising prices. So, you’re going to see increasing unemployment and inflation.
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The cycle continues until eventually we have an all out or full currency sovereign debt crisis where you see the dollar plunging, consumer prices really moving higher, interest rates spiking and that’s when it really gets interesting because that’s when we’re going to hit our fiscal cliff.
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We have to recognize that the biggest casualty will be the US dollar and any debt instruments denominated in dollars.
This is the end game; all prophecy builds to this. The evil knows this. This is the Grand Finale. We know who wins, so take heart and remain firm in the Lord.
I agree this is the endgame as only a moron would try to fix it the way they are and make up phony excuses to boot. So much oversight and yet none, we are helping the youth but yet preditory loans etc.
This will send decieved americans to the FEMA camps by the millions,they’ll take the mark of the BEAST to get food and water,NEVER realizing their women will be raped,their children fed to the guard dogs,as the horror of their mistake sets in,they’ll be forced to tear down the old cities full of radiation and plages,dieing like flies everyday, dead bodys everywhere,covered with sores,in pain from the daily beatings,the russians won’t be kind,either will the chinese,HEY lets not think about whats coming,lets fight over something stupid and a waste of time………
More religious mumbo jumbo here. The crisis is one created by man. Preying to some imaginary entity will not do anything and is really morally weak and an excuse not to address any of the issues.
What this means is pull out every worthless green piece of paper you have and PREP!!!!!!!!! Buy something real before it’s not worth the paper it’s printed on!
How will it play out if we loose the reserve currency. It seems the usa is dominant in the corn market. What will it mean when we have most of the corn?
Nexus789, you won’t be saying that from the concentration camps. True, it is through man’s hand that we see the physical result, but I assure you there is a sinister force possessing the rulers of this planet. As I said before, we know the end result, yet it will be a painful stretch of life ahead.
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This is the end game; all prophecy builds to this. The evil knows this. This is the Grand Finale. We know who wins, so take heart and remain firm in the Lord.
amen
I agree this is the endgame as only a moron would try to fix it the way they are and make up phony excuses to boot. So much oversight and yet none, we are helping the youth but yet preditory loans etc.
This will send decieved americans to the FEMA camps by the millions,they’ll take the mark of the BEAST to get food and water,NEVER realizing their women will be raped,their children fed to the guard dogs,as the horror of their mistake sets in,they’ll be forced to tear down the old cities full of radiation and plages,dieing like flies everyday, dead bodys everywhere,covered with sores,in pain from the daily beatings,the russians won’t be kind,either will the chinese,HEY lets not think about whats coming,lets fight over something stupid and a waste of time………
More religious mumbo jumbo here. The crisis is one created by man. Preying to some imaginary entity will not do anything and is really morally weak and an excuse not to address any of the issues.
What this means is pull out every worthless green piece of paper you have and PREP!!!!!!!!! Buy something real before it’s not worth the paper it’s printed on!
Good luck everyone!!!
How will it play out if we loose the reserve currency. It seems the usa is dominant in the corn market. What will it mean when we have most of the corn?
Nexus789, you won’t be saying that from the concentration camps. True, it is through man’s hand that we see the physical result, but I assure you there is a sinister force possessing the rulers of this planet. As I said before, we know the end result, yet it will be a painful stretch of life ahead.