New year is here and people all over the globe are hoping that it will fade the frightening memories they met during 2022. But Peter Schiff, Euro Pacific Capital Inc CEO, had a pessimistic perception over the economy this year. He said that “the US Dollar might have performed strong last year but it has hit a low in the past 6 months. This weakness may stay during this year too and inflation may get worse.”
There’s More to Come
He disagreed with the Wharton University professor and economist, Jeremy Siegel, who believes that we are seeing a decline in inflation considering the falling real estate prices. Schiff countered him, saying that “those are the falling asset prices while the consumer prices are on the rise. This includes values associated with households like tax, maintenance, utilities, rent and more.”
Schiff previously shared his predictions regarding inflation too. He believes that “we are going to default” as the country has more debt than 2008 which indicates
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