{"id":16029,"date":"2023-01-02T01:52:30","date_gmt":"2023-01-02T01:52:30","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/economist-peter-schiff-predicts-inflation-about-to-get-much-worse-us-dollar-facing-one-of-its-worst-years-ever-economics-bitcoin-news\/"},"modified":"2023-01-02T01:52:30","modified_gmt":"2023-01-02T01:52:30","slug":"economist-peter-schiff-predicts-inflation-about-to-get-much-worse-us-dollar-facing-one-of-its-worst-years-ever-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/economist-peter-schiff-predicts-inflation-about-to-get-much-worse-us-dollar-facing-one-of-its-worst-years-ever-economics-bitcoin-news\/","title":{"rendered":"Economist Peter Schiff Predicts Inflation ‘About to Get Much Worse’ \u2014 US Dollar Facing ‘One of Its Worst Years Ever’ \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Economist Peter Schiff has predicted that the U.S. dollar will have \u201cone of its worst years ever\u201d in 2023, warning that the inflation problem is \u201cabout to get much worse.\u201d He also shared his prediction about the worst-performing sectors of the stock market this year.<\/strong><\/p>\n

Peter Schiff\u2019s 2023 Economic Predictions<\/h2>\n

Economist and gold bug Peter Schiff shared his 2023 predictions about the U.S. economy, the dollar, and the stock market in a series of tweets Friday.<\/p>\n

\u201cThe U.S. dollar index may have had a strong year, but it ended the year on a six-month low, down 10% from its November high,\u201d he began, elaborating:<\/p>\n

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This weakness will likely continue in 2023, with the dollar having one of its worst years ever. If I\u2019m right the inflation problem is about to get much worse.<\/p>\n<\/blockquote>\n

Schiff also disagreed with Wharton University\u2019s finance professor Jeremy Siegel who shared his economic view on CNBC last week.<\/p>\n

\u201cJeremy Siegel is wrong,\u201d Schiff contended. Siegel \u201cthinks falling real estate prices means the inflation threat is over. That\u2019s falling asset prices. Consumer prices will keep rising, including those associated with homeownership like rent, mortgage rates, insurance, taxes, utilities, and maintenance,\u201d Schiff argued.<\/p>\n

Regarding the stock market, Schiff predicted:<\/p>\n

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The worst-performing sectors of the stock market in 2022 will likely repeat as the worst-performing sectors in 2023.<\/p>\n<\/blockquote>\n

Schiff has repeatedly warned about the U.S. economy and the dollar crashing. In October, he cautioned about the rising national debt that the U.S. cannot repay. \u201cWe\u2019re going to default,\u201d he warned<\/a>. \u201cWe have much more debt now than we had in 2008 \u2026 so this is going to be a much bigger crisis when the defaults start,\u201d he described<\/a>. The economist also predicted that the Federal Reserve\u2019s recent actions could lead to<\/a> market crashes, a massive financial crisis, and a severe recession.<\/p>\n

What do you think about economist Peter Schiff\u2019s predictions? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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