Renowned economist Peter Schiff recently made waves when he declared that a recession is the cure for the ailing U.S. dollar. Schiff, a vocal critic of the Federal Reserve’s monetary policy, argued that the central bank needs to raise interest rates in order to save the U.S. currency from further depreciation.
According to Schiff, the Fed’s policy of keeping interest rates artificially low has led to a weakening of the dollar and increased inflationary pressures. He believes that the only way to stabilize the currency and prevent further devaluation is for the Fed to raise rates to more sustainable levels.
Schiff’s theory is based on the idea that a recession, while painful in the short term, is necessary to cleanse the economy of excesses and restore balance. He argues that by allowing interest rates to rise and allowing market forces to correct imbalances, the economy can eventually recover and emerge stronger than before.
While Schiff’s views may be controversial, they are rooted in a long-standing belief in the power of free markets and the dangers of government intervention. He has been warning of the dangers of excessive debt and easy money for years, and believes that the current monetary policy is only delaying the inevitable reckoning.
Schiff’s call for higher interest rates may be seen as a radical solution, especially in a time of economic uncertainty. However, he believes that it is the only way to prevent further damage to the U.S. dollar and the economy as a whole.
While not everyone may agree with Peter Schiff’s views, his arguments certainly raise important questions about the role of the Federal Reserve and the long-term consequences of current monetary policy. Whether or not a recession is truly the cure for what ails the U.S. dollar remains to be seen, but Schiff’s warnings should not be taken lightly.
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This is BS. You don’t get out of debt by cutting spending. You get out of debt by increasing income. United States is a business and it needs to act like it. Increase income and pay off the debt.
If you work for somebody, it may be hard to understand this concept. But if you own your own business, you know that paying off your vehicles and paying off your loans is only going to get you so far. Increasing your income, can basically go into infinity if you own a business, but erasing debt can only go to zero.
Very informative
DoorDash, UberEats, InstaCart, etc is the part time job that most Americans work whether we accept that truth or not
Rate cuts commence in June 2024, taking 6-8 months to complete. A potential crash, if any, might occur by March 2025. The soft landing narrative is gaining traction, making this big recession everyone is calling for less likely. With $1 million from a business sale, I'm seeking profitable investment opportunities for the next 3 years.
Biden's recent decisions have been very questionable and anti-investment. But the factors surrounding debt and a possible recession have so many nuances that the ordinary person does not see, and so when I'm investing, I like to work with a professional. That is how I am able to make up to $15k a month.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
If you took Peter's advice these past 10 years ypu would have missed out on the longest and largest increase in stocks and real estate. He will eventually be right, but unless you're near retirement just sit back and enjoy the ride
100% True
So should we move our dollars into investments outside of the us into physical assets such as land, gold, silver? And just keep enough cash on hand to pay our bills and live?
People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?
Elections are coming. They’ll cut rates to help their buddy Biden.
Why would this guy say let people lose their savings in banks and take away social security. Just another dirt bag elitist. Just stop spending money on useless wars, giving money to people who leech off the system and stop giving free money to illegals in our country.
I'm 51 and feel bad for younger generations. They wants so much – a big house, new car, vacations, designers clothes etc.. and feel deprive whenthey have to sacrifice. I was the same way but some things changed as I got olderI stopped wanting all that stuff and just feel content having a big stack of cash saved and invested to help me stay afloat through retirement
A recession is currently the "most likely consequence for the economy," and I cannot fathom becoming a victim of circumstances, with inflation at a four-decade high. In two years, I plan to retire, and my target retirement fund is $967,000. How can I assure this? What steps can I take?
As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be — and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Cut defense spending. Stop sending money oversees.