Economist Peter Schiff warns that a severe financial meltdown is imminent following a sharp spike in U.S. import and export prices, compounded by massive global oil shocks.
Schiff Warns Of 19% Annualized Inflation
Following a significant jump in U.S. import and export prices, economist Schiff is issuing a dire warning to the markets and the Federal Reserve. Schiff declared on X that the U.S. is “headed for a full-blown financial crisis,” pointing to the latest inflation indicators as a harbinger of economic disaster.
According to Schiff, the situation is already critical, noting that “February import prices spiked 1.3% while export prices surged 1.5%.” He calculated that these surging numbers are “annualizing to inflation rates of 16.8%–19.6%.”
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