Article Image
IPFS News Link • Stock Market

Peter Schiff: Stock Up Now! Inflation Could Get Very Ugly

• https://www.zerohedge.com, by Tyler Durden

The CPI for September came in above expectations with a month-on-month increase of 0.4%. Peter Schiff appeared on Unfiltered with Dan Bongino to talk about inflation in Joe Biden's America. Peter said you should stock up now because things could get ugly really quickly.Bongino pointed out that while wages are rising, they aren't rising as fast as prices. Wages have risen 4.6% while inflation has surged by 5.4% — according to government numbers. Peter said that is typically the trend.

Peter said the real problem is during and after COVID, a lot of Americans stopped working.

Unfortunately, they didn't reduce their spending because the government made the mistake of replacing the incomes they lost with new money that the Federal Reserve was printing. So, we were making fewer things to buy, but everybody had more money to buy stuff, and so, prices just went ballistic. And they're going to keep going up."


https://www.wealthbattle.com