Financial guru Peter Schiff, who accurately predicted the recession of 2008, says the problems we face now are even bigger. We will live through another Great Depression if Schiff is correct. And one of the main concerns is something very few dare to even mention or show a concern about: the national debt.
Schiff’s podcast from a few days ago highlights a very important problem with not only the economy as we know it but the mainstream media as well. Unable
to take their attention off gun control regulations for even a moment
to focus on a much bigger concern, the national debt, the mainstream
media is effectively trying to hide what’s coming down the pipe. The lack of coverage seems to be spurring a lackadaisical attitude about the almost $21 trillion debt.
Let’s start at the beginning. Schiff begins his podcast talking about a book his father wrote; one of the only books to have been banned by the United States government. Yes, the US government banned a book titled “The Federal Mafia: How It Illegally Imposes And Unlawfully Collects Income Taxes” by Irwin Schiff in the “land of the free.”
“The
bad news is, we are going to live through another Great Depression and
it’s going to be very different. This will be in many ways, much much
worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.”
“These
hot inflation numbers that we’ve been getting are going to get a lot
hotter…all this inflation that has been in the financial markets, in the
stock markets, in the bond market, in the real estate market, everybody
loved inflation when it was making you rich…the problem is going to be
when it makes you poor. That’s when it starts showing up in the cost of
living; all the things you need to buy end up being a lot more
expensive.”
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