Peter Schiff on recession warning: It’s going to be worse than 2008

Peter Schiff on recession warning: It’s going to be worse than 2008


KEEP DOMINATING THIS ECONOMY. CONNELL: COVERAGE CONTINUES HERE. ON A DAY THE DOW IS DOWN 800. WHETHER A RECESSION IS COMING. WHAT THE PRESIDENT SHOULD DO AND THE FED, WHAT HAVE YOU. YOU I KNOW YOU HAVE A DIFFERENT AND UNIQUE PERSPECTIVE. WHAT’S THE PETER SCHIFF TAKE ON THIS?>>EVERYTHING THE FEDERAL RESERVE HAS DONE SINCE THE 2008 FINANCIAL CRISIS WAS A MISTAKE. ALL THEY DID WAS SUCCEED IN MAKING ALL THE PROBLEMS THAT MAKE THAT CRISIS WORSE. THEYED IT UP BY INFLATING AN EVEN BIGGER BUBBLE THAN THE ONE HAT POPPED IN ’08. BY TRYING TO SHRINK THEIR BALANCE SHEET THEY PRICKED THAT BUBBLE. NOW WE’LL COMPLETE ECONOMIC CRISIS THEY INTERRUPTED IN TWEET. IN — IN 2008. BUT THE BACK HALF WILL BE WORSE. WE ARE HEAD FOR A RECESSION. IT WILL BE WORSE THAN ’08, THE FED IS GOING BACK TO ZERO. THEY ARE GOING TO DO QE AGAIN. BUT IT’S NOT GOING TO WORK. ALL THE INFLATION IS GOING TO THE SUPER MARKETS AND THE GAS STATION. IT WON’T GO INTO THE STOCK MARKET. THE DOLLAR WILL GO THROUGH THE FLOOR, IT WILL TAKE THE BOND MARKET WITH IT. THE NEXT CRISIS IS NOT STUBB PRIME MORT AGES, IT WILL IN THE TREASURY MARKET. THIS WILL BE INFLATIONARY WHERE THERE IS NO WAY OUT. THE RECESSION WILL START BEFORE HE FINISHES HIS TERM WHICH MEANS HE WON’T HAVE A SECOND TERM. BUT THE WORST PART OF THE RECESSION WILL TAKE PLACE ON THE WATCH OF THE NEXT PRESIDENT.>>IS THIS BILL MAHER? CONNELL: HOW DO WE GET THERE FROM HERE? IF THERE ARE SO MANY PROBLEMS AROUND THE WORLD WHICH WE KNOW THERE ARE. AND THE CAPITAL IS FLOWING INTO THE UNITED STATES FOR THE TIME BEING. THAT SUPPORTS OUR CURRENCY. SO HOW DOES THAT ALL — WHAT HAPPENS?>>THAT CAPITAL IS GOING TO FLEE. PEOPLE MADE THE MISTAKE. INITIALLY EVERYBODY BELIEVED FED WAS GOING TO NORMAL SIZE RATES. I KNEW THEY COULDN’T DO THAT. THE FEDS FINALLY ABORTED THE PROCESS. THE MARKET STILL BELIEVE WE SOMEHOW HAVE A BETTER ECONOMY AND OUR RATES WILL BE HIGHER AND WE’LL AVOID RECESSION BUT WHEN THEY REALIZE THAT’S NOT TRUE. WHEN THE FED SLASHES RATES, THEY WILL FLEE FROM THE DOLLAR. ESPECIALLY WHEN INFLATION CONTINUES TO RISE. AS WE MOVE INTO THIS RECESSION, CONSUMER PRICES WILL RISE EVEN FASTER. EVEN IF THE DOLLAR STARTS TO FALL, IT WILL PUSH PRICES UP EVEN MORE. CONNELL: HOW DO YOU EXPLAIN THE FACT THAT WE HAVEN’T SEEN WHAT WE WOULD BY NOW HAVE SEEN ACTUAL INFLATION, MORE THAN WHAT WE HAVE SOONER IN GOVERNMENT DATA, THAT IT HASN’T BEEN MORE THAT THAN IT IS.>>YESTERDAY WE GOT THE FIRST BACK-TO-BACK FIRST 3-POINT GAIN. SINCE 2001. BUT A LOT OF THE INFLATION THE FED CREATED SHOWED UP IN ASSET PRICES, STOCKS, HE’LL ESTATE BONDS. BUT THAT INFLATION IS GOING TO MOVE FROM ASSETS PRICES TO GOODS PRICES AS CONFIDENCE IN THE DOLLAR AND U.S. ECONOMY IS LOST AND WHEN THE MARKETS PRICE IN A TRUMP LOSS. RIGHT NOW EVERYBODY THINKS A TRUMP VICTORY IS A SURE THING. JUST LIKE EVERYBODY THOSE COULDN’T WIN IN 2016, EVERYBODY THINKS HE CAN’T LOSE IN 2020. CONNELL: YOU THINK THERE IS AN INVESTMENT BET ON THE ELECTION.>>I REMEMBER NOBODY THOUGHT HE COULD WIN IN REALITY. PEOPLE THOUGHT IT WAS CRAZY. I WAS ONE OF THE FEW PEOPLE WHO CAME ON TELEVISION AND SAID I THINK HE CAN WIN. NOW I THINK HE’S GOING TO LOSE. I THINK THE RECESSION IS GOING TO START BEFORE THE END OF HIS TERM AND IT WILL BE BLAMED ON HIM. GEORGE BUSH WAS ABLE TO GET RE-ELECTED. THE FED BOUGHT BUSH A SECOND TERM AFTER THE DOT COM BUBBLE BURST. WE ELECTED OBAMA. NOW THE FED WON’T BE ABLE TO INFLATE ANOTHER BUBBLE TO SAVE TRUMP. IT WILL BLOW UP ON HIS FIRST TERM AND THE DEMOCRATS WHO FOLLOWS HIM WILL BE A SOCIALIST AND WILL BE MUCH WORSE FOR THE ECONOMY THAN OBAMA. CONNELL: YOUR POINT IS THE MARKET WILL TRY TO PRICE THAT IN, IF YOU ARE RIGHT. WE’LL SEE. ONE THING YOU ARE RIGHT ABOUT, THE TIMING OF THESE POLITICAL EVENTS. HIS FATHER WOULD HAVE LOVED BETTER TIMING BEFORE THE ’92

100 thoughts to “Peter Schiff on recession warning: It’s going to be worse than 2008”

  1. The market doesn't react in real time… it takes time for Zombies to understand what's actually happening…
    President Donald J. Trump will have been reelected for months before the Couch Potatoes understand RECESSION…
    *Trump 2020 !!

  2. That azzhole needs to be more worried about his own backside.
    We can prettymuch guess that they're screw with the economy, and why.

  3. 2008 was bad ? Hahahahahahahahahaha no one actually noticed anything haha this is a stupid game by government which actually means nothing .

  4. I filled out at 30 job application within 1 month range not 1 called me back SMH. What is the world coming to????????

  5. It's always the Dems who saved the day. The Rekunts tend to swoop in took unearned surplus, good economy, hence wealth then disappear like thieves in night with a giant mess for Dems to fix only to come back years later and do the same thing again.

  6. There is no money. The United States is bankrupt and the receivers of the bankruptcy are demanding that the United States disarm before they recover their assets.

  7. Dems will push for a recession to try and make trump look bad , their willing to sacrifice our country to win, they won’t.

  8. what fools your investors have become you've alienated destroyed every American family every culture in this country while you micromanage your assets on the stupid f**** computer seeking* on a fn** micro management Odyssey of stupidity

  9. Why even live ? when I can just be a consumer lmao…

    The f**** American culture during buy n sell corporate fuks of** greed propagated by others for their survival unable to open their eyes

  10. Kudlow says we will not have a recession and he was on television like trump. trump will make us stable by buying Greenland. Of course, it's the Fed even though we've had ten years of growth by their guidance.

  11. Recession is unavoidable…and going to be a long one. Looks like usa will be the first one follow by hk. And is good time to shift the trading currency to reduce the impact for other countries.

  12. As long as the US maintains global military and financial hegemony there will be no dollar collapse.
    If anything the dollar will get stronger as the rest of the world economies faulter.

  13. Yes it will and has nothing to fo with Trump. The same Securitization fraud is going on that nearly collapsed everything in 2008.

  14. Even if it is worse than 2008, it wont last as long. There will be a bounce back with all the tech companies holding onto real estate and major business mergers circulating the money back into the economy. Housing market will rally like a mother and manufacturing giants will expand when the banks are ready to strike.

    This is just my opinion, but cryptocurrencies are causing alot of the blowback because the money is sitting still while the Fed keeps printing. Think about it, you fo t have to agree with me just yet.

  15. Not too hard to figure this one out since Trump is the idiot destroying America. We’ve been enjoying Obama’s economy. Now that Trump is an office it’s going into shambles just a matter of time before he Bankrupts America.

  16. Peter Schiff is incompetent, a liar and a schill. Recessions are cyclical and and US is overdue. Hey Schiff, explain why the rest of the world are doing bad, but the US seems to be this island of prosperity… it couldn't be Trump could it.

  17. Peter Schiff is even WRONG in more of his predictions….
    than the massive amount of times that Trump LIES as the POTUS

  18. Does he just want to be known as one of the people who predicted another recession? I warned you guys about it you didn't listen to me type of thing. I too can do that.

  19. All I can say people if we have a recession it will be the elites sticking it to us. This has to stop. If that means getting rid of fed..get corporations back to real corporations and free trade. Taking back control of our food supplies. Building our factories back up. And telling globalist we want none of it.

  20. Ethereum could be a good buy, price relatively low, it is just about to upgrade, and its independent of government corruption.

  21. You never take about inflation. The sizes get smaller increase in prices. The sizes get smaller increase in prices. Screw you people. So not real.

  22. How can the economy doing so great when alot of jobs has been closing down and laying off hundreds and thousands of employees since 2016 till now. Walgreens has announced they will be closing 200 stores and laying off alot of employees. Walmart has been getting rid of overnight stockers and letting them go. Also alot of jobs do not give enough hours. Alot of jobs cut hours and paid. Alot of jobs only only have part time not full time. Alot of jobs are work more, less hours with less paid. Trump and Republicans will not raised the medium wage. Trump trade war is hurting jobs and the economy. Trump wants to cut 3 millions people off Food Stamps. Trump and Republicans do not care about Poverty and the Homeless in America.

  23. How can the economy doing so great when the America has a National Debt . Soon the economy will collapsed and America will be broke and bankrupt. America will be a third world country not a powerful no more. It will effect global countries.

  24. The writing is on the wall. Global economic collapse is coming and we're still too Stupid to grasp it. Tsk, tsk, tsk!

  25. The u.s economy has been on life support since 2008. But this is a global economic tsunami. The u.s will at least keep its head out of the water, at least trumps wall will help from the coming mass migrations cause it only slowed down due to the killer heat

  26. Logically one can not blame Donald j Trump..for federal reserve communist trade practicing..since
    .(((((((1975)))))))

  27. GE will file bankruptcy by the end of January 2020. Economy is in big trouble. America is in for inflation like it has never seen. Fox can laugh but they are covering for Trump.

  28. Peter schiff is always negstive economy to US but some of his comments is real for sure and he is very worried about current us president lose reelection and elect socialist Democrats president because of economy disaster and even socialist Democrats president win the 2020 election that would be more worse

  29. The federal reserve is a privately owned bank .. controlled by lucerfarians … they stay rich and powerful no matter what the markets do … serve the most high .. fight against evil

  30. And Schiff prefers communism, so he hopes the fall comes before 2020 so the communists (Democrats) will take over, take our guns, THEN impose communism against our will. But Schiff will somehow make out big (and still be able to own guns cuz filthy rich).

  31. You live in a economy built on huge amounts of debt from the bottom up,to think it's doing good or will even last is hilarious.

  32. Love to speak in person Peter, sorry to do this public but the violation is public. I heard this clear this morning from God: I rebuke you Peter Shiff for releasing a demonic prophetic word. I heard God so LOUD last night, “I DID NOT TELL THAT MAN TO SAY A NEGATIVE PREDICTION ABOUT THE ECONOMY.” I attempted to message you Peter Shiff. I am NOT going political here; I have about as much investment into politics as I do bowling (no offense friend bowlers), but I was instructed to rebuke you. Matter of fact I placed my laptop up last night and started going to bed because I really like to lay low and God rebuked me and said whose approval you after (Galatians 1:10)? I RAN for my laptop. I attempted to reach in private as I always do out of respect (always go for private rebuke), but God is angry!! You did something in Hebrew language called, “Naba,” (the art of bubbling up, bubble forth, a word from God). Either intentional or unintentional you are in trouble with God buddy. I hear that so clear and would rather not do this here, I’m a very peaceful guy. You need to repent Peter. To speak a prophetic word on behalf of God is vile! You are in trouble buddy, I beg you to set things right with God. He calls this “False Prophets,” who say things for their own gain, either to get money out of greed or some type of power. Yes, I have seen Christians do this but I always turn them over to God. And so we do the same with you, we hand this file folder over to God and say we forgive you and love you in Jesus name, and the case has been submitted to God, judge Jehovah. Whew, I FEEL That Church w everything inside of me. Repent Peter!! Ask Jesus to forgive you and fill you with His Holy Spirit, and tell him you are sorry for releasing sorcery, witchcraft. He will forgive you! He died on the cross just for this buddy. I feel Him drawing you even now. Pray for this man Church. God help us. In Jesus name. 1 John 1:9

  33. These doom and gloom predictions discount this administration….I don't think things will play out according to the Schiff script…

  34. Who is going to beat Trump? A recession is something that happens not anyone's fault. A Socialist President???? I call BS LOL

  35. Interesting, the special counsel report was a flop, robert mueller testifying was a flop, jefferey epstein hangs himself in his jail cell and now it's Recession Recession Recession non-stop Recession worries and Trump is to blame. When all else fails, the left just continue to find something else to persuade the American voters.

  36. Oh I get it. Trump is responsible for the last 10 years of growth but any recession is not his fault. I hope no one broke their back while doing that flip of logic.

  37. But that ain't my name but you all know what I want make it rain I know that won't help out some people but the is what I see in I won't lose so my new aka name is from some people is cmaxs in people don't know me Ace of spades

  38. We still letting the white man run the world into the ground!! Even worse than before…… And he came into the White House with a good economy. Nothing like what Obama was handed over… I mean look 👀

  39. lol fox is strange, if its collapse trump is the one who making it, in other side fox defense trump decision about economy loo

  40. Lol look at all the big time know it all critics of peter schiff here! Y’all think you’re all geniuses just because the criminal big 6 banks that run the fed have artificially inflated the stock market and real estate AGAIN temporarily for you! 🤦‍♂️Y’all think the economy is real? Y’all are crazy!

  41. Seems as though having the schiff family name instills retardation – either about impeachment or about recession.

  42. That guy on the phone is inflating his ego and false credibility by lying about his completely inaccurate predictions past and present…

  43. While some of his reasoning may have foundation, his timing is so off… He said we were going back to recession in 2009… An entire decade and expansion cycle has happened since then…

    I do agree with him how rates too low inflate asset bubbles and the issue of America (and many other nations) consuming far more than they produce is an issue

    However as far as the US goes, National debt is at 106% of GDP, that is high but not to the point of financial crisis necessarily (Japan is at over 200%)

    Also consumer debt still isn't as bad as in 2007 relative to income and on a per capita basis despite his claim. Consumer debt is only at a record high in nominal terms (not adjusted for inflation) and due to population growth

    On a per capita basis and relative to income which is more important the credit excesses are actually not as bad yet as in 2007

    So while Peter is right about many problems, a recession WORSE than 2008 I don't think is right around the corner. A nasty recession maybe, but certainly not worse. At least not yet

  44. Why wasn't Schiff concerned in the Obama administration. They claimed inflation was zero or just above. Yet, while the stock market inflation was way lo, a trip to the car dealership or especially the grocery store was the Real story. In 8 years everything went up 45,49 percent. Now he's worried?

  45. This guy is a complete moron there has been an inversion many times and no recession they don’t bother to say that.

  46. FOX News never learns
    2007 Warren: Recession coming!
    2007 Schiff: Recession coming!
    2007 FBN: Oh please…

    2019 Warren: (no footage yet)
    2019 Schiff: Recession coming!
    2019 FBN: Oh please…

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