He issued the warning during a recent episode of "The Alex Jones Show" on InfoWars, telling the network's founder: "The American economy is being destroyed right before our eyes, particularly for people of middle and lower incomes. The trend is terrible, and the trend is worsening."
According to Cortes, small businesses – which purchase commodities and consume goods – suffer from inflation far worse than big businesses.
"The reality is: Unless we course correct incredibly quickly, unless we reverse in major ways on both monetary and fiscal policy – the U.S. is headed for an absolute economic train wreck, for a financial cataclysm. That is the reality as projected by the metrics."
Cortes, a political analyst and market strategist, added that the Biden administration is accelerating the destruction of the U.S economy, destroying the U.S. dollar and hollowing out America's middle class in the process. (Related: Biden intentionally destroying U.S. economy and sabotaging the American energy sector.)
Things are getting worse at an increasing pace, Cortes remarked, adding that the corporate media, the White House and the Federal Reserve won't tell the people about the economic crash's full extent.
The former Trump campaign advisor ultimately remarked that America's ruling class believes it can squeeze out as much profits from the U.S. while it collapses. He added that these same elites have no sense of patriotism and do not care at all about the repercussions of their actions against America.
Jones remarked that the federal government clearly knows that this collapse is coming – and it believes this collapse will allow it to introduce new systems such as central bank digital currencies. He also pointed out that Americans are about to see the end of the Bretton Woods system that established the dollar's dominance. China, Russia, India and Brazil have expressed their intent to drop the greenback.
The InfoWars founder zoomed in on the continued lie pushed on the American people by Treasury Secretary Janet Yellen that inflation is transitory. Jones said that Yellen has shown malice, dishonesty and incompetence with her foolish responses to dealing with the economic situation.
According to Jones, America is on a managed decline. When asked about it, Cortes expressed optimism that the country can still correct its course.
The first step to fix this problem, Cortes explained, is for the Republican-controlled House of Representatives to hold the line on the debt ceiling. According to Cortes, this is at least the beginning of a step toward a trajectory back to reasonable inflation and prosperity for regular Americans.
However, he noted that people should act quickly as the window is closing and the clock is ticking. "If they fail to act, this collapse becomes irreversible and the kind of prosperity that Americans used to enjoy will be lost forever," Cortes said.
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Watch Steve Cortes' warning about the total collapse of the U.S. economy below.
This video is from the InfoWars channel on Brighteon.com.