Economic expert Peter Schiff issues dire warning, says U.S. economy will be mired in inflation for years to come
08/09/2022 // JD Heyes // Views

The globalist deep state and the Democrats in the U.S. who are aligned with it appear to have accomplished their long-sought objective of tanking the economy and moving tens of millions of Americans onto permanent government dependence and control.

According to top economist Peter Schiff, the lengthy economic shutdowns during the COVID pandemic that created a massive supply chain crisis coupled with out-of-control government spending has now created an inflationary cycle in the U.S. that is not going away anytime soon.

The Epoch Times reports:

Following a 0.9 percent contraction in the second-quarter GDP, experts are debating if the U.S. economy has officially slipped into a technical recession.

Economists at the National Bureau of Economic Research (NBER), the arbiters of what defines a recession, have yet to make their formal declaration. Until then, Wall Street and Washington will be debating whether the current situation counts as a recession. 

While the opinions and analyses surrounding the state of the U.S. economy are mixed, famous economist and investor Peter Schiff who is the founder of Euro Pacific Capital, has a different perspective: The U.S. is slumping into an “inflationary depression.”

“I think that the economic weakness is going to be so pronounced and over such a long period of time that it would not even do it justice to call a recession,” he told the outlet. “I think depression is going to be a more accurate description of what we’re going to go through.”

The U.S. will most likely spend the better portion of the current decade in a state of depression, as "prices are going to rise much more in this decade that they did in the 1970s," he said.


Economists from other major investment firms and banks have forecast anything from a mild recession and tepid growth rates over the next 18 to 24 months to echoing Schiff's pessimism.

For instance, The Epoch Times reports, Wells Fargo just recently altered the bank's base forecast for next year from an economic soft landing to just a mild economic slowdown by the middle of 2023. And TD Economics has estimated that economic growth next year will only clock in around 1.4 percent. Also, the Federal Reserve Bank of Atlanta predicted a 2.1 percent growth rate while the Fed overall believes that real GDP growth will be 1.7 percent this year and the same next year.

So far, not a lot of financial experts believe that the current economic downturn will be anything like the collapse that took place in 2007-2008. However, Schiff thinks that is a real possibility, noting that back then, most economic forecasts only predicted a modest drop-off in activity. But it turned out to be the worst financial crisis since the Great Depression.

And in fact, Schiff says he believes the coming crisis will actually be worse than it was in 2007-08.

“I think this recession is going to be deeper and longer lasting than that one,” Schiff explained.

“People forget this recession is now about six, seven months old,” he added, according to The Epoch Times. “We’re already in recession with low unemployment. Now, unemployment is going to pick up as the recession worsens. As unemployment really starts to pick up, that will put more downward pressure on the economy.”

Just Tuesday, reports noted that the U.S. labor market, which had been strong, posted its fewest job openings in more than a year after hitting a peak in March. In a separate report, The Epoch Times noted that "openings tumbled by 605,000, to 10.7 million, in June, falling short of the market estimate of 11 million. The rate of job openings dropped to 6.6 percent, from 6.9 percent."

The deep state powers that be hated Donald Trump but more than that, they hated the individualist spirit he re-instilled in his supporters and other Americans. And as 'punishment,' they are creating a massive inflation economy to force as many people as possible back onto the government dole so they can control us.

If you can diversify your income to 'recession-proof' it, do so now.

Sources include:

Take Action:
Support Natural News by linking to this article from your website.
Permalink to this article:
Embed article link:
Reprinting this article:
Non-commercial use is permitted with credit to (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.
App Store
Android App
eTrust Pro Certified

This site is part of the Natural News Network © 2022 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
Natural News uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.