Peter Schiff: The Next Financial Crash is Coming (2020)

Peter Schiff Talks: The Next Financial Crash is Coming!

Investor sentiment is at an all-time high and gold bug Peter Schiff is reminded of the massive economic recession in 1987.

Schiff believes that the economy has not improved under President Trump and that Republicans are making the same mistake they did in 2005, 2006, and 2008 when there were talks of the perfect economy under President Bush.

This economy failed and the democrats took over power with President Obama. Schiff believes the current economy is in a bubble much like then and that the Republicans will get blamed when the bubble pops.

Schiff believes that the budget deficits are going to be the big catalyst to the next financial crisis.

Along with more state taxes and gimmicks, the impact on the budget deficit is going to be a quick recession.

The savings rate is now at a 10 year low. The trade deficit is at its highest level in 6 years and if oil is taken out, that deficit is higher than its ever been.

The last time we had a trade deficit and a budget deficit was 1987. This puts downward pressure on the US dollar. And when the dollar goes down, interest rates go up.

And when the dollar is going down and interest rates are going up, it creates a negative yield demand. Which means nobody will buy the US treasuries since its a bad bet.

With national debt close to 21 Trillion, the Federal Debt is at an all-time high and the average individual is broke and living paycheck to paycheck

Cheap money and cheap gas are the only things propping up the US Economy.

This talk was delivered at the 2018 Vancouver Resource Investment Conference.

Check out our other featured Peter Schiff Video here:
Why the Air Is About to Come Out of America's Bubble Economy - Peter Schiff
https://youtu.be/03Ke9rIYGsc

The Worst Stock Market Crash In History Has Begun: Companies Will Fail
https://youtu.be/Lg9q9Cl6sS8

Investing For Millennials: Gold Cash Knowledge
https://youtu.be/xIJerGmwXWk
#FinancialCrisis #Recession

Видео Peter Schiff: The Next Financial Crash is Coming (2020) канала Cambridge House International Inc.