Peter Schiff, president and CEO of Euro Pacific Capital and Schiff Gold, sat down with CNBC last week to talk about the United States economy. He warned that the coming economic collapse be worse than the 2008 financial crisis. Schiff conceded that investors’ stock portfolios won’t take as big as a hit as they did ’08, but he did warn that everyone’s purchasing power will greatly erode when the next crash does transpire.
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Peter the gold bug has it wrong again. Even if the dollar tanks, prices will fall, so you will not lose that much buying power.
Recessions are good for the consumer, prices come down, discounts in every sector.