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Expert: The current US economic bubble "It's worse than before the 2008 crash"

The fact that the US Federal Reserve (Fed) is inclined to cut interest rates would indicate that the US economy tries to prevent "the air out of the stock market bubble," explained to RT the chief executive of investment adviser Euro Pacific Capital, Peter Schiff.

Even though US President Donald Trump tweets daily that the country has "the strongest economy in history", if the head of the Fed, Jerome Powell, agreed, "it would raise rates in instead of cutting them, "with which this economist estimates that this assessment" does not even come close to the truth ".

In any case, Schiff considers that Powell "does not seem to understand" the complexity of the situation and the threatening bubble in which the economy of the country is located since, although "he believes that the economy is fine", he is "in worse condition than before the collapse of 2008".

So, Peter Schiff predicts that the US "is heading towards a recession, regardless of what the Fed does with the rates. "

This specialist, who already predicted the last global economic crisis, warns that the most serious thing is that the collapse of the current bubble will establish a stagflation, which combines the stagnation of the economy with endless inflation.

However, in this case instead of a stagnation there will be a recession, which will be accompanied by a rate of inflation "much higher than it was the last time we had stagflation, in the 70s".

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