Ahh...it’s been a while since I’ve had my daily dose of economic doom porn. Schiff is an interesting guy who got a lot of fame for predicting the ‘08 financial panic. The only problem is that since then he has been consistently wrong in most of his big predictions.
The problem with the economic talking heads, is that they all pretend they know what is going to happen when in reality no one can predict the future with any degree of certainty. Studies have repeatedly shown that so called financial experts almost never have a long term track record better than 50%, and Schiff’s is much worse.
My advice is stop trying to guess the future or paying attention to the paid talking heads. Adopt an agnostic approach to the future and invest conservatively. Stay diversified in assets. Own stocks and bonds but also keep a good chunk in reserve in both cash and gold so you can ride out any unpleasantness. Remember that if you lose money there is no guarantee you will be able to make it back.
P.S. to my last... Use index funds wherever you can. Long term VERY few people beat the index.