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‘It’s Gonna Be a Bloodbath’: Expert Reveals the Economic Defects Under the Government’s Numbers

“Overall the economy is quite weak,” Peter Schiff, CEO and chief global strategist at Euro Pacific Capital Inc., “It’s all a bubble masquerading as a recovery.”
“The average consumer has way too much debt and household net worth has declined,” Schiff said. “Real wages are lower today than they were five years ago. I think people are overestimating the shape of the consumer and his ability to spend.”