{"id":39681,"date":"2018-10-25T08:27:27","date_gmt":"2018-10-25T13:27:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39681"},"modified":"2018-10-25T08:27:27","modified_gmt":"2018-10-25T13:27:27","slug":"peter-schiff-the-dollar-and-american-standard-of-living-will-be-biggest-casualties","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39681","title":{"rendered":"Peter Schiff: The Dollar And American Standard Of Living Will Be \u2018Biggest Casualties\u2019"},"content":{"rendered":"

Peter Schiff: The Dollar And American Standard Of Living Will Be \u2018Biggest Casualties\u2019<\/a><\/h3>\n
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The United States economy is about to crash and it will take the dollar and the American standard of living with it. Peter Schiff,\u00a0who currently serves as the CEO of Euro Pacific Capital, says it is time to prepare for the global market crash in light of the recent downturn.<\/a><\/p>\n

\u201c<\/em>All the signs are already there. Look at what\u2019s happening out there. The stock market is falling, 40 percent of the S&P is already in a bear market. Look at homebuilders, the housing stocks, the financials, the retailers \u2013 all these are the same things that were happening in 2007 leading to that crisis<\/strong>,\u201c<\/em>\u00a0Schiff, who accurately predicted the 2008 recession, told RT America.<\/em><\/a>\u00a0 We don\u2019t have much time left in this economic bubble if Schiff is correct.<\/p>\n

After the dramatic early drop, U.S. stocks recovered but still finished lower after a wild day on Wall Street. By the closing bell, the Dow was down 126 points, or 0.5 percent, recovering most of its early losses. The Nasdaq closed down 0.4 percent, while the S&P 500 shed 15 points, finishing 0.6 percent lower.\u00a0Schiff urged people to be prepared for not only an economic crisis but a political crisis as well with the current administration likely to take the blame<\/a>.<\/p>\n