Americans Personal Savings Has DroppedTo 3.2%. You Think Inflation Is Bad Now? Wait Until Next Year!

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Peter Schiff recently appeared on Real America with Dan Ball to talk about the economy, energy prices, and inflation. Peter said if you think inflation was bad this year, wait until next year with a much weaker dollar.

The dollar is tanking.

And all of the economic data that’s come out so far on the fourth quarter suggests that GDP in the fourth quarter is going to be negative again.”

That would mean a drop in GDP in three of the four quarters in 2022. And Peter said the Q4 drop could be the biggest yet.

As far as the petroleum reserves, Peter said we’re going to run out sometime next year.

And I think in California, by the time Biden finishes his first term, and hopefully his only term, I bet you guys in California will be paying $10 a gallon for gas.”

Currently gas in California is just over $5 a gallon. People feel better because earlier this year it was over $6 a gallon. Dan said “the new normal sucks.”

Peter said that if he is right about the dollar going down, the price of oil will go way up.

We’ve had the benefit of a strong dollar for the last year or two. So, if you thought inflation was bad this year, wait until you get a load of it next year when we have a weak dollar.”






It appears Ron Paul was right you know!

Last Edited by Don Of N*******t on 12/06/2022 04:02 PM