{"id":65112,"date":"2023-02-27T10:13:49","date_gmt":"2023-02-27T15:13:49","guid":{"rendered":"https:\/\/olduvai.ca\/?p=65112"},"modified":"2023-02-27T10:13:49","modified_gmt":"2023-02-27T15:13:49","slug":"fed-fears-complete-economic-collapse-peter-schiff","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=65112","title":{"rendered":"Fed Fears Complete Economic Collapse \u2013 Peter Schiff"},"content":{"rendered":"
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Fed Fears Complete Economic Collapse \u2013 Peter Schiff<\/a><\/h3>\n<\/header>\n
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\"\"<\/a><\/strong>Money manager and economist Peter Schiff said in October the Federal Reserve \u201ccould NOT win the fight on inflation by raising interest rates.\u201d\u00a0 As inflation just turned up anew, it looks like he was right\u2014again.\u00a0 Schiff explains, \u201cBased on the recent data we got . . . the inflation curve has bent back up.\u00a0 The months of declining inflation are in the rearview mirror.\u00a0 Now, we are going to see accelerating inflation . . . and I think before the year is over, we are going to take out that 9% inflation high last year in year over year CPI (Consumer price Index) . . . and what that is going to show is what the Fed has done thus far in its inflation fight is completely ineffective.<\/span>\u00a0 If the Fed is serious about fighting inflation, and I do not believe it is, it\u2019s going to have to fight a lot harder than it has.\u00a0 Interest rates need to go up much higher than anybody thinks, but that alone is not going to do the trick.\u00a0 We also have to see a big contraction in consumer credit and lending standards rising so consumers can\u2019t keep spending. . . . Consumers are running up credit card debt.\u00a0 That is inflationary.\u00a0 That is an expansion of the supply of credit.\u201d<\/p>\n

It gets worse when the Fed has to save the economy again.\u00a0 Schiff predicts, \u201cI think the Fed is going to have to throw in the towel on the inflation fight because it will be fighting something it fears more, which is a complete economic collapse. . . .The federal government may be legitimately forced to cut Medicare and Social Security instead of illegitimately cutting it through inflation. . . .We have this collapsing standard of living, but think about it as a tax.\u00a0 This is what Americans are paying…<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fed Fears Complete Economic Collapse \u2013 Peter Schiff Money manager and economist Peter Schiff said in October the Federal Reserve \u201ccould NOT win the fight on inflation by raising interest rates.\u201d\u00a0 As inflation just turned up anew, it looks like he was right\u2014again.\u00a0 Schiff explains, \u201cBased on the recent data we got . . . […]<\/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":[1055,172,175,195,236,303,8757,426,431,534,963,13351,3650,9699],"class_list":["post-65112","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumer-price-index","tag-cpi","tag-credit","tag-debt","tag-economic-collapse","tag-fed","tag-greg-hunter","tag-inflation","tag-interest-rates","tag-monetary-policy","tag-peter-schiff","tag-price-inflation","tag-us-federal-reserve","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65112","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=65112"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65112\/revisions"}],"predecessor-version":[{"id":65113,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65112\/revisions\/65113"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}