Thursday, December 15, 2016

Trumps Economic Plan Will Result in Massive Financial Crisis

Euro Pacific Capital CEO and well-known economist Peter Schiffpredicted to CNBC on Nov. 21 that President-elect Donald Trump's economic plan will result in a massivefinancial crisis – one even worse than that of 2008.

Schiff, who is known as "Dr. Doom" thanks to his history of accurately predicting market chaos, issued a stark warning about Donald Trump's presidency and the U.S. economy…

"Voting for Trump is not enough to recover the U.S. economy," Schiff said toCNBC on Nov. 21.

The financial commentator noted that he is bearish right now in part because of the massive U.S. national debt, which is expected to exceed $20 trillion in December, making it the highest in the world, according to U.S. News on Dec. 1.

But the main reason Schiff is predicting an immense financial crisis is because of President-elect Donald Trump's fiscal stimulus plans.

In fact, Schiff claimed there are "20 trillion reasons why [Trump's] fiscal stimulus can't work"…

- Source, Money Morning