SHOCKING! Something Far Worse Than A Recession Is COMING - Peter Schiff
SHOCKING! Something Far Worse Than A Recession Is COMING - Peter Schiff
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Congratulations are flooding in from across the globe for U.S. President-elect Donald Trump, who secured a resounding victory in the November election. CNN projected Wednesday that Trump will become the 47th president of the United States, completing one of the most remarkable comebacks in political history. His victory will grant him significant, disruptive domestic power and send ripples throughout the international community. Four years after leaving Washington amid controversy and after attempting to overturn the 2020 election results, Trump's win defied numerous challenges, including two assassination attempts, two presidential impeachments, a criminal conviction, and a host of other legal charges.
Peter Schiff provides a thorough analysis of Donald Trump’s historic second-term victory, drawing comparisons to Grover Cleveland’s non-consecutive presidencies. Schiff critiques Trump’s economic pledges, including tax cuts and deregulation, arguing that they exacerbate rather than resolve existing fiscal challenges. He underscores the gap between the media’s portrayal of the economy and the reality faced by the public, pointing to pressing long-term issues such as the mounting national debt and rising interest rates.
America’s debt recently exceeded 35.88 trillion dollars, a sum so large it’s almost incomprehensible. That is a stack of hundred dollar bills about the same size as the Earth’s circumference — over 24 thousand miles tall. The federal deficit alone for 2024 topped 1.83 trillion dollars. Trump’s electoral victory will be much less meaningful if he leaves office in four years without addressing our debt and deficit problems. Without bold action now, we’re on a path toward economic instability.
Peter Schiff highlights that the current economic situation is significantly worse as Donald Trump prepares to take office compared to 2016. He predicts that the national debt will soon reach 36 trillion dollars, with the possibility of hitting 37 trillion dollars before Trump even assumes office. Schiff emphasizes that under the Biden administration, the national debt is expected to increase by an additional 500 billion dollars to 1 trillion dollars in the coming months.
Investors are anticipating a more business-friendly administration, with expectations of tax cuts. In a potential new term, the former President has expressed his intention to extend parts of the 2017 tax cut set to expire next year, along with proposing additional cuts to the corporate tax rate. However, the economic boost from these tax cuts may be partially offset by Trump's proposed tariffs, which would increase costs for U.S. businesses and consumers and could provoke retaliation from trading partners. Trump has suggested implementing tariffs ranging from 10% to 20% on all imports, with even steeper levies on goods from China.
According to Schiff, the Fed would need to engage in QE to monetize the massive budget deficits created by the tax cuts, as this would be the only way to prevent long-term interest rates from rising uncontrollably and crushing the economy, stock market and banks.
Share this video with a friend if you found it useful! Consider subscribing to the channel for videos about investing, business, stock market, managing money, building wealth, passive income, and other finance-related content!
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🎥 We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel. Some links above are affiliate links. Anything displayed on this channel should not be seen as financial advice. Each person has a unique experience, and there is no guarantee of future profitability or success.
#economy #stocks #gold #silver #investment #financialanalysis #stockmarket #peterschiff
Видео SHOCKING! Something Far Worse Than A Recession Is COMING - Peter Schiff канала Finance Flow
Join this channel to get access to perks:
https://www.youtube.com/channel/UCCLcDJi9jAmg1kZuTEbPolg/join
Congratulations are flooding in from across the globe for U.S. President-elect Donald Trump, who secured a resounding victory in the November election. CNN projected Wednesday that Trump will become the 47th president of the United States, completing one of the most remarkable comebacks in political history. His victory will grant him significant, disruptive domestic power and send ripples throughout the international community. Four years after leaving Washington amid controversy and after attempting to overturn the 2020 election results, Trump's win defied numerous challenges, including two assassination attempts, two presidential impeachments, a criminal conviction, and a host of other legal charges.
Peter Schiff provides a thorough analysis of Donald Trump’s historic second-term victory, drawing comparisons to Grover Cleveland’s non-consecutive presidencies. Schiff critiques Trump’s economic pledges, including tax cuts and deregulation, arguing that they exacerbate rather than resolve existing fiscal challenges. He underscores the gap between the media’s portrayal of the economy and the reality faced by the public, pointing to pressing long-term issues such as the mounting national debt and rising interest rates.
America’s debt recently exceeded 35.88 trillion dollars, a sum so large it’s almost incomprehensible. That is a stack of hundred dollar bills about the same size as the Earth’s circumference — over 24 thousand miles tall. The federal deficit alone for 2024 topped 1.83 trillion dollars. Trump’s electoral victory will be much less meaningful if he leaves office in four years without addressing our debt and deficit problems. Without bold action now, we’re on a path toward economic instability.
Peter Schiff highlights that the current economic situation is significantly worse as Donald Trump prepares to take office compared to 2016. He predicts that the national debt will soon reach 36 trillion dollars, with the possibility of hitting 37 trillion dollars before Trump even assumes office. Schiff emphasizes that under the Biden administration, the national debt is expected to increase by an additional 500 billion dollars to 1 trillion dollars in the coming months.
Investors are anticipating a more business-friendly administration, with expectations of tax cuts. In a potential new term, the former President has expressed his intention to extend parts of the 2017 tax cut set to expire next year, along with proposing additional cuts to the corporate tax rate. However, the economic boost from these tax cuts may be partially offset by Trump's proposed tariffs, which would increase costs for U.S. businesses and consumers and could provoke retaliation from trading partners. Trump has suggested implementing tariffs ranging from 10% to 20% on all imports, with even steeper levies on goods from China.
According to Schiff, the Fed would need to engage in QE to monetize the massive budget deficits created by the tax cuts, as this would be the only way to prevent long-term interest rates from rising uncontrollably and crushing the economy, stock market and banks.
Share this video with a friend if you found it useful! Consider subscribing to the channel for videos about investing, business, stock market, managing money, building wealth, passive income, and other finance-related content!
--------------------------------------------------
🎥 We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel. Some links above are affiliate links. Anything displayed on this channel should not be seen as financial advice. Each person has a unique experience, and there is no guarantee of future profitability or success.
#economy #stocks #gold #silver #investment #financialanalysis #stockmarket #peterschiff
Видео SHOCKING! Something Far Worse Than A Recession Is COMING - Peter Schiff канала Finance Flow
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8 ноября 2024 г. 22:00:00
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