Schiff w/ La Roche: 1970s Stagflation is Calling
build a non-dollar portfolio of solid companies and metals to survive an inflationary depression that mixes weak growth with high inflation.
TL;DR
- Economist Peter expressed a bleak outlook for the U.S. economy, noting that challenges have been postponed but are now imminent.
- Rising prices of gold and silver suggest a global erosion of confidence in the U.S. dollar.
- Deficit spending and a lack of foreign buyers for U.S. debt leave the Federal Reserve as the ultimate backstop, potentially leading to quantitative easing.
- Tariffs are criticized as a delusion, with all revenue ultimately paid by Americans, not foreigners.
- A portfolio of non-dollar assets, including quality companies and precious metals, is recommended to survive an 'inflationary depression' characterized by weak growth and high inflation.