Skip to comments.Peter Schiff: In The Impending Collapse "Everything That Can Go Wrong, Will"
Posted on 01/17/2018 4:05:22 PM PST by blam
The impending economic collapse is hidden from most. People only see a rising stock market, not the negative underlying factors that will cause the whole system to crash.
The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital. We have just begun a major, long-term bear market in the dollar, he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at roughly $63 a barrel. Shiff focuses on oil as just one example of the inflation that will help collapse the dollar.
When the price of oil rises, it reverberates through the economy. Peter called it a gigantic tax hike for consumers. But the Fed is still worried prices arent going up fast enough and that they wont hit the mystical 2% goal.
Theyre going to hit that out of the park. Theyre going to be looking at 2% in the rearview mirror in the distant rearview mirror. That is going to be the big story. Theyre going to way overshoot and theyre not going to be able to do anything about it. Peter Schiff
Schiff also warns that the dollars decline is just getting starting. He also says everything that can go wrong, will. We are not experiencing economic growth. We are experiencing inflation.
High inflation is not good for the dollar. By definition, high inflation means the dollar is losing purchasing power. If the dollar is losing purchasing power, that is bad for the dollar, Shiff explains.
(Excerpt) Read more at shtfplan.com ...
Anyway, it's been a while since we've had a financial collapse, doom & Gloom, thread.
BTW, I've gone to yard sales the last couple of years and can see where people are selling off their prepper supplies.(some will admit it)
We’re doing just fine.
Hang in there folks.
If the economy goes into a recession commodity prices including oil will fall not rise. Also, as oil prices
increase, the idle drill ships will be called back into service and more fracking will occur in Texas, North Dakota etc.
No no no....i wanna die,,,,,we’re all gonnna die......but first, i wanna pay a website a membership fee to tell me HOW I’m gonna die!
Dude, you’ve always cracked me up...
Shiff is mentally unstable.
He’s unfit to be published.
>>No no no....i wanna die,,,,,were all gonnna die......but first, i wanna pay a website a membership fee to tell me HOW Im gonna die!
But you better buy it now with money that’s worth something because in just a few weeks, that membership will cost you $37,000,000,000,000 or a chicken and box of 22 ammo. Now I need to go vacuum seal a crate of toilet paper. /s
I just met my business CPA today. I run a S corp with one junior partner. We do consulting work and make 2-300k per year in income. CPA told us that our taxes would fall based on our 16 tax returns, by 35%
Best news he told me, is that entertainment deduction is going to ZERO.
Tell me, what will that do to NFL and NBA season ticket sales that are predominantly bought by corporations!!!
Buy our Gold and Food....Commercial.
I told clients in 08/09... if the world is going to end, why are you so worried about your money?
My prepper supplies are living on a remote island with a population that is small enough to be self-sufficient
Boycott the un-American NFL!
[Best news he told me, is that entertainment deduction is going to ZERO.
Tell me, what will that do to NFL and NBA season ticket sales that are predominantly bought by corporations!!!]
Gosh, I’m gonna need more popcorn.
I am still waiting for the coming Armageddon.
The sky! The sky!
I bought a bunch of stuff after 2000.
Still have most of it. But it was for camping, not TEOTWAWKIK
Heh heh heh...
When was the last time Schiff was right?
Maybe. But why people aren’t taking money out of the stock market is a mystery to me.
Gee, you think Trump might have played a hand in the zero entertainment deduction??
He absolutely kicked them in the NUTS