May 25, 2017 by SchiffGold
In his most recent Gold Videocast, Peter Schiff pointed out that Pres. Trump inherited an economic mess from Barack Obama. Even if he can manage to get his policies implemented in the midst of the political circus going on in D.C., it isn’t going to be enough to stop the downward economic spiral.
Yes, having Donald Trump president is better than having Hillary Clinton as president. But he is not a get out of jail free card for the economy… The problem is the damage is going to hit on Donald Trump’s watch. Barack Obama got out of Dodge just in time.”
Brandon Smith at Alt-Market.com agrees that the economy is due to take a plunge. He takes things a step further, asserting that Trump is just the scapegoat the central bankers have been waiting for. Now they can nudge up interest rates and blame the chaos caused by popping bubbles on the president specifically and Republican policies in general.
I have been warning since long before the election that Trump’s presidency would be the perfect vehicle for central banks and international financiers to divert blame for the economic crisis that would inevitably explode once the Fed moved firmly into interest rate hikes. Every indication since my initial prediction shows that this is the case… I continue to go one further than the mainstream media and say that the Trump administration is a giant cement shoe designed (deliberately) to drag conservatives and conservative principles down into the abyss as we are blamed by association for the financial calamity that will occur on Trump’s watch.”
This will work because most Americans don’t have even a basic understanding of economics. They dutifully accept what the mainstream media spoon feeds them. In the minds of many Americans, if the stock market is rising and unemployment is low, everything is great!
And hey! Stocks are soaring, right?
And yet there is a huge disconnect between stock market prices and economic reality. It’s clear that Fed policy has pumped up a massive stock market bubble. Analysis last year by Yahoo Finance showed 93% of the entire stock market move since 2008 was caused by Federal Reserve policy. But people don’t understand this. They turn on CNBC, see the stock markets rocketing upward, and assume the economy is great.