Contact us
CALL US NOW 1-888-GOLD-160

David Stockman: Recession Is Going to Engulf the Whole World (Video)

  by    2   1

Despite mounting data pointing toward a recession right around the corner, many mainstream analysts continue to insist that declining stock markets and other signs of economic turmoil are just a blip on the radar and things will quickly turn around.

David Stockman appeared on CNBC’s Futures Now last Friday and blasted this bullish line of thinking, saying we are heading for a global recession and a huge crash in the financial markets. In the process, he hit those optimistic about the economy square in the jaw:

Frankly I think your traders are smoking something stronger than what I can legally buy here in Colorado.”

Despite Stockman’s insistence that the dynamics are all pointing toward a crash, the show host continued to push the narrative that this is just a small bump in the road and ultimately the market will resume its upward trend.


Highlights from the interview:

“The oil price is heading into the teens, because the world economy is falling apart.”

“We’re done with a 20-year credit bubble. The central banks everywhere are lost, out of dry powder. Look at the data coming in year-to-data, and this is why I think the stock market is going down too…everywhere trade is drying up…and that means there is a recession that’s going to engulf the entire world economy, including the United States.”

“This time we are looking into the jaws of a recession. It will become more and more evident by the week and month, and the boys and girls in the market are going to panic when they face recession and the fed can’t do anything because it’s at the zero-bound already, and its balance sheet is already hideously bloated.”

“If they now try to go the final step and drive [interest rates] negative and then take away the $100 bill, they are asking finally for the people of this country to wake up, get out their pitchforks, get out their torches and come after these people who are totally out of control and are wrecking our financial system.”

“If someone asks me, ‘What should the Fed do?’ – What they should do is have the good graces to resign, because they are lost. None of this is helping the economy…Now were heading back into a recession, and we are going to have a huge crash in the financial markets.”

Get Peter Schiff’s latest gold market analysis – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Peter Schiff and Tucker Carlson: There’s an Economic Hurricane on the Horizon

Peter Schiff recently appeared on Tucker Carlson to talk about inflation, the economy, and Treasury Secretary Janet Yellen’s admission that she was wrong about inflation. There’s an economic hurricane on the horizon and Peter said it’s going to be a Cat 5.


Peter Schiff: Why Shouldn’t You Give Up on Gold and Silver?

A lot of investors wonder about the lack of movement in gold and silver, especially given rampant inflation. Why haven’t we seen a big rally in precious metals as many expected? Why shouldn’t you just give up on gold and silver? Peter Schiff answers these questions in this video.


Peter Schiff and Tucker Carlson — Right on Inflation!

In the spring of 2021, the Fed was still insisting spiking inflation was “transitory.” Fast forward one year. Inflation is as hot as ever. Fed Chair Jerome Powell was forced to abandon the transitory narrative last fall. In April, the CPI was up 8.3% on an annual basis. Today, Powell admits the Fed was wrong, but claims […]


Peter Schiff: It’s Not Putin or the Pandemic — It’s the Fed!

There is all kinds of spin out there when it comes to inflation. Peter Schiff recently appeared on News Nation to talk about the economy. He explained that the spin misses the mark. The real source of inflation isn’t the pandemic or Putin. It’s the Federal Reserve.


Peter Schiff: The Recession Is Already Here and It Won’t Be Mild

The mainstream is concerned about the Fed pushing the economy into a mild recession as it battles inflation. Peter Schiff recently appeared on NTD News to talk about the economy. He said the recession is already here and it’s not going to be mild!


2 thoughts on “David Stockman: Recession Is Going to Engulf the Whole World (Video)

  1. Clark says:

    As long as there are more and more futures contracts being created more than there is oil registered or deliverable then the price of oil will continue to fall.

  2. Jawad says:

    Excellent post.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Call Now