The #recession that we are already in will be much worse than the Great Recession that followed the 2008 Financial Crisis. In addition to double digit #inflation the economy will be hit by mass layoffs as reduced consumer spending forces money-losing companies to slash payrolls.
— Peter Schiff (@PeterSchiff) May 5, 2022
The #Fed created the 2008 financial crisis by keeping interest rates too low. Then it swept its mess under a rug of #inflation. Now that the inflation chickens it released are coming home to roost, it must create an even greater financial crisis to clean up an even bigger mess!
— Peter Schiff (@PeterSchiff) May 5, 2022
If you think the #StockMarket is weak now imagine what will happen when investors finally realize what lies ahead. There are only two possibilities. The #Fed does what it takes to fight #inflation, causing a far worse financial crisis than 2008 or the Fed lets inflation run away!
— Peter Schiff (@PeterSchiff) May 5, 2022
h/t dr0id
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