Schiff confounds me. He’s been predicting financial armeggedon for 20 years now. We haven’t had it. But on the other hand, I see what he sees, and I tend to agree. Today Biden proposed another budget with $3 Trillion in debt.
It makes my head swim.
There was another guy who is usually very accurate with his predictions, about five years ago discussing his prediction for a crash not coming to pass and his response, in a quick paraphrase, was this:
“I had no idea just how far down the road they could keep kicking the can.”
My take: When it finally DOES happen, it will be epic.
These guys are all correct, they’re just off on their timing. And that is a difficult one to call. It’s only when no human intervention will matter that reality will hit us all, whether we like it or not.
Gold is a good hedge when someone can actually predict a crash. Most of the time it is a poor investment.