{"id":53363,"date":"2020-05-18T15:37:07","date_gmt":"2020-05-18T20:37:07","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53363"},"modified":"2020-05-18T15:37:22","modified_gmt":"2020-05-18T20:37:22","slug":"peter-schiff-its-not-a-crisis-until-it-becomes-one","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53363","title":{"rendered":"Peter Schiff: It\u2019s Not a Crisis Until It Becomes One"},"content":{"rendered":"\n

Peter Schiff: It\u2019s Not a Crisis Until It Becomes One<\/a><\/h3>\n\n\n\n
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Despite Fed Chair Jerome Powell throwing cold water on the prospect of a quick economic recovery<\/a> last week, there is still a lot of optimism out there. There is also an appalling lack of concern about all of the debt and money printing going on. In a recent podcast, Peter said nobody expects this to lead to an inflation crisis or a dollar collapse. But what can\u2019t last forever won\u2019t. And it won\u2019t be a crisis \u2014 until it becomes one.<\/p>\n\n\n\n

File this under another sign that we\u2019re not in for a quick economic recovery. Another 3 million Americans filed for unemployment according to last week\u2019s jobs report. Peter asked a pretty poignant question: if things were on the upswing, why would employers who have held on to workers this long let them go now?<\/p>\n\n\n\n

They held off this long. Why are they still laying off so many workers? Clearly, employers are not sensing this huge recovery that\u2019s around the corner, because if they did, they would be holding onto these workers. They wouldn\u2019t be letting them go now after they kept them for these last couple of months. Obviously, if they\u2019re laying them off now, they think this is going to be a much more protracted decline and therefore, we\u2019re not going to get the back half of that V.\u201d<\/p><\/blockquote>\n\n\n\n