Economist corrects Trump and issues ominous prediction: ‘Collapse will follow’ | Donald Trump’s recent economic claims are “backwards,” according to an economist who also unleashed a grim prediction about the future for the US.
https://www.rawstory.com/trump-peter-schiff/
Posted by Jumpinghoops46
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>Donald Trump’s recent economic claims are “backwards,” according to an economist who also unleashed a grim prediction about the future for the United States.
>Peter Schiff, a financial commentator and radio personality who has been raising alarms about America’s affordability crisis, weighed in over the weekend. Previously, Trump himself went nuclear when Schiff did an appearance on Fox News.
>“Why would Fox and Friends Weekend (of all things?) put on a ‘Stockbroker’ named Peter Schiff, a Trump hating loser who has already proven to be wrong. Either the show made a mistake, or it is heading in a different direction,” he wrote in December.
>Trump continued, “He thinks prices are going up when, in fact, they are coming substantially down. Gasoline hit $1.99 a gallon yesterday, in certain states, and is down BIG since Biden. Other prices are almost all down. Biden caused the AFFORDABILITY CRISIS, I’M FIXING IT, along with everything else! Much of it, like the Border, is already fixed.”
>But when it comes to foreign tariffs, Schiff says Trump is confused.
>”Trump has it backwards,” he wrote Saturday. “The U.S. doesn’t subsidize the world; the world subsidizes the U.S.”
It really depends on how the SCOTUS will rule on Trumps Tariffs this tuesday.
Truthfully we all know that Roberts is fighting tooth and nail to make Trumps Tariffs legal. But it seems he needed an extra weekend to find some way to justify it without officially declaring congress dead; as it would strip the core purpose of congress away and put it into the hands of the executive branch.
Until the SCOTUS actually rules on Trumps Tariffs, literally nobody has any clue about the economy’s health. It’s just way too impactful. Scott Bessent, Jerome Powell, Blackrock, your favorite podcast host… none of them will be able to give you an accurate reading until probably wednesday.
Its engineered this way. Currently we are at the “wealth extraction” phase of the empire, it started with Reagan when he set a precedent for corporate consolidation by throwing out the IBM antitrust case. This is a cycle we have seen with the fall of empires since Rome.
Trump’s economic views are definitely backwards, but Peter Schiff is not an economist and is a terrible source. He’s been predicting ruin for decades, regardless of the circumstances.