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IPFS News Link • Economy - Recession-Depression

"Worse Than The Great Depression" - Peter Schiff Fears '70s Stagflation "On Stero

• Via Greg Hunters USAWatchdog.com

The Federal Reserve doubled its balance sheet in a matter of months, and Congress is pumping out trillions of dollars in spending bills to fight the economic crisis caused by the Covid 19 lockdown. The really scary thing is not the massive money printing, but the fact that absolutely nobody seems to care about the risk to the U.S. dollar.

Money manager Peter Schiff thinks he knows why, and explains:

"(Back in 2008-2009,) even Larry Kudlow was worried about what the Fed was doing, but nobody is worried about it now.  The reason is they have been lulled into this false sense of complacency in that we got away with it the last time... and there was no negative consequence.

We didn't have runaway inflation and did not have loss of confidence in the dollar. So, there was no price to be paid...

Since we got away with it before, they think they will get away with it again, and I think they are completely wrong...

All we did was inflate a bigger bubble, but now this bubble has popped, and it found the mother of all pins in the Coronavirus that put a gaping hole in it, so the air is coming out much faster. Now, they are trying to reflate this thing. We are going to suffer the consequences, not only what we are doing now, but what we did back then...

When is all this inflation going to move out of the stock market and into the supermarket? I am surprised this has not already happened, but I do think we are at the end of the line... Here's what is going on. We are going to have this massive inflation tax. We are seeing price increases at the supermarkets."


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