Schiff Warns of Dire US Recession as Global Markets Soar
Peter Schiff warned on April 3 that the U.S. faces a brutal recession while the rest of the world experiences a boom.
He highlighted a drop in commodities like oil, silver, and copper as signs of a global recession, but emphasized that the downturn will mainly affect the U.S. Schiff argued that the U.S. must shift from importing goods to increasing domestic production, a process he said would require significant investment and sacrifice. In contrast, the rest of the world will thrive by simply consuming more of what they already produce.
Schiff also criticized the impact of Trump’s tariff policy on the U.S. dollar, noting that the dollar’s decline could exacerbate economic pain for consumers.
Clever Robot News Desk 5th April 2025
