We Are on the Brink of a Catastrophe
Jerome Powell’s 60 Minutes portrayal of the national debt crisis as a distant concern starkly contrasts with the urgent reality we face. Peter Schiff doesn’t mince words in his most recent podcast when he highlights the immediate threat:
It’s not a problem for the future. This is not a long-term problem anymore; this is a short-term problem that could blow up any minute. It’s this generation that’s going to pay the piper, not some future generation. It’s happening right now.”
In his last podcast, Peter pointed out that the US is on the hook for over $1 trillion in debt payments every year.
We are not merely approaching a fiscal danger zone; we have already entered it:
Jerome Powell shouldn’t be worried about it because we’re on an unsustainable path; he should be worried that we’ve already arrived at an unsustainable destination.”
Despite Powell’s soothing assurances, Schiff points out the grim outlook for future generations. The Fed’s monetary policy will also cost your grandkids:
It’s going to be a problem f
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