Not too long ago, Peter Schiff said, “The rate hikes of the past have already guaranteed that the economy is headed for recession. It doesn’t matter whether they continue to raise rates in the future. The recession is a done deal.”
In a recent interview, economist and editor of the Gloom, Boom and Doom Report, Dr. Marc Faber, expressed a similar sentiment, saying, “Forget about the coming slowdown because the economy has already been backing up for months and we’re likely already in a recession.”
In April, Marc Faber called the US economy terminally sick and predicted a 20 to 40% crash in the stock market. In a recent interview on CNBC’s Trading Nations, “Dr. Doom” reiterated that US stock markets are overvalued and that there will eventually be a “massive” deflation in asset prices.