{"id":39170,"date":"2018-10-15T16:04:01","date_gmt":"2018-10-15T21:04:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39170"},"modified":"2018-10-15T16:04:01","modified_gmt":"2018-10-15T21:04:01","slug":"peter-schiff-the-next-economic-crash-will-be-far-more-painful-than-the-2008-recession","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39170","title":{"rendered":"Peter Schiff: The Next Economic Crash Will Be &#8220;Far More Painful&#8221; Than The 2008 Recession"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-10-15\/peter-schiff-next-economic-crash-will-be-far-more-painful-2008-recession\"><span class=\"field field--name-title field--type-string field--label-hidden\">Peter Schiff: The Next Economic Crash Will Be &#8220;Far More Painful&#8221; Than The 2008 Recession<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1064\" data-gtm-vis-first-on-screen-2077925_22=\"1064\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Euro Pacific Capital CEO Peter Schiff is sounding the alarm after this week\u2019s market selloff, saying\u00a0Wall Street and the\u00a0U.S. economy are on the verge of a recession.<\/p>\n<blockquote><p><strong>\u201cI think as Americans lose their jobs, they are going to see the cost of living going up rather dramatically, and so this is going to make it particularly painful<\/strong><em>,\u201d<\/em>\u00a0Schiff said.<\/p>\n<p><strong>\u201cThis is a bubble not just in the stock market, but the entire economy<em>,\u201d<\/em><\/strong><a href=\"https:\/\/www.foxbusiness.com\/economy\/stock-bubble-bigger-than-2008-crash-peter-schiff\"><strong>\u00a0<\/strong>he told\u00a0<\/a><em>Fox News Business.<\/em><\/p><\/blockquote>\n<p>Schiff is predicting a recession, accompanied by\u00a0<a href=\"http:\/\/www.shtfplan.com\/headline-news\/what-the-trade-war-means-for-regular-americans_10012018\">rising consumer prices,<\/a>\u00a0that will be\u00a0<em>\u201c<\/em>far more painful<em>\u201d<\/em>\u00a0than the 2007-2009 Great Recession.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/video.foxbusiness.com\/v\/video-embed.html?video_id=5847572331001&amp;loc=zerohedge.com&amp;ref=https%3A%2F%2Fwww.zerohedge.com%2Fnews%2F2018-10-15%2Fpeter-schiff-next-economic-crash-will-be-far-more-painful-2008-recession&amp;_xcf=\" width=\"466\" height=\"263\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" data-mce-fragment=\"1\"><\/iframe><a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-the-next-economic-crash-will-be-far-more-painful-than-the-recession_10152018\"><em>As SHTFplan.com&#8217;s Mac Slavo notes<\/em><\/a>, President Donald Trump\u00a0<a href=\"http:\/\/www.shtfplan.com\/headline-news\/yesterdays-stock-market-drop-a-sign-of-bad-times_10112018\">blamed the recent stock market woes<\/a>\u00a0on the Federal Reserve and the rising of interest rates.<\/p>\n<blockquote><p><strong>\u201cI think the Fed is making a mistake. They\u2019re so tight. I think the Fed has gone crazy,\u201d <\/strong>Trump told reporters on his way to a rally in Pennsylvania on Wednesday.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.rt.com\/business\/441197-stock-bubble-2008-crash\/\">Trump said that the United States\u2019 central bank<\/a>\u00a0is solely\u00a0responsible for the worst stock market selloff since February, saying the Federal Reserve \u201chas gone crazy.\u201d<\/p>\n<p>Schiff said it isn\u2019t entirely the Fed\u2019s fault, however, because<strong> they have been acting \u201cirrationally\u201d for a very long time <\/strong>while slowly adding nails to the economy\u2019s coffin.<\/p>\n<blockquote><p>\u201c<strong>What is crazy is for the Fed to believe that they can raise interest rates without\u00a0<a href=\"http:\/\/www.shtfplan.com\/headline-news\/when-the-uss-stock-market-bubble-bursts-inevitable-disaster-will-follow_09062018\">pricking their own bubble<\/a>,<\/strong>\u201d he said.<\/p>\n<p><em><strong><a href=\"http:\/\/www.shtfplan.com\/headline-news\/5-signs-that-global-financial-markets-are-entering-a-bear-market-and-11-ways-that-you-can-get-prepared-for-the-chaos-that-is-coming_08172018\">\u201cAll bear markets<\/a>\u00a0start off as corrections. I think this one is probably a bear market. It\u2019s long overdue,\u201d<\/strong><\/em><a href=\"https:\/\/www.foxbusiness.com\/economy\/stock-bubble-bigger-than-2008-crash-peter-schiff\">\u00a0Schiff said on\u00a0<em>FOX News Business<\/em>.<\/a><\/p><\/blockquote>\n<p>Schiff said investors are on the edge of a precipice that foresees a bear market far worse than the stock market crash of 2008.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: The Next Economic Crash Will Be &#8220;Far More Painful&#8221; Than The 2008 Recession Euro Pacific Capital CEO Peter Schiff is sounding the alarm after this week\u2019s market selloff, saying\u00a0Wall Street and the\u00a0U.S. economy are on the verge of a recession. \u201cI think as Americans lose their jobs, they are going to see the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[22319,1806,122,7844,238,11992,303,6489,963,6490,1138,827,3650,860,4318],"class_list":["post-39170","post","type-post","status-publish","format-standard","hentry","category-economics","tag-2008-recession","tag-bubble","tag-central-bank","tag-donald-trump","tag-economic-crash","tag-euro-pacific-capital","tag-fed","tag-mac-slavo","tag-peter-schiff","tag-shtfplan-com","tag-stock-market","tag-united-states","tag-us-federal-reserve","tag-wall-street","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39170"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39170\/revisions"}],"predecessor-version":[{"id":39171,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39170\/revisions\/39171"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}