Guy

 

is nailing it.

Even if he's pushing you to buy Gold etc...

Peter Schiff: Inflation will be higher by year's end; US debt tops economic hurdles

"FOX: We hit the debt ceiling. How should investors be looking at gold, other precious metals and the USD?

Schiff: Investors should not just be looking at gold, they should be buying it. Silver too. Investors should limit the number of dollars they hold just to what's needed to pay near-term bills."

"Schiff: The crisis is the debt, not the ceiling. The ceiling would be part of the solution, except they keep raising or suspending it so we can go even deeper into debt.

The real risk is that the debt ceiling is raised again and eventually we get a real sovereign debt and dollar crisis, as no one wants to hold our debt or our currency."

FOX: The Dow turned negative for the year this week. How worrisome is this for equities in 2023?

Schiff: I think the most widely held U.S. stocks are very overpriced, and there is a lot of downside risk in those names in 2023.

(Everything is a bubble...)

"FOX: Last month, during an interview on Fox Business Network, you said inflation will be higher this year. We’ve seen it ease slightly as of December — CPI +6.5%. Any update to your views here? 

Schiff: I still think, by the end of the year, inflation will be headed higher again, with the year-over-year increase possibly taking out the high from 2022. If it doesn't take out the 2022 high in 2023, it will do so in 2024."

(He doesn't offer his reasoning here butt I'll offer mine. 

Inflation is systemic, 

the FED has lost control of the money supply and they know it. 

SPR drawdowns and interest rate hikes aren't going to fix to much $ being in the system, it devalues the currency's worth and it's exactly where were at and why China and Russia are making the moves they are.)

"FOX: Amazon, Microsoft, Google and others laying off. What are your recession views for 2023?

Schiff: I think the recession that began in 2022 will continue and worsen in 2023."

(I agree and when they finally call the recession?

It will be from those two consecutive quarters of negative GDP growth in 2022 forward. Promise.)

FOX: The Fed is expected to keep tightening this year. What are your expectations for the frequency/size of hikes this year?

Schiff: I expect the Fed to pivot before the year is over, not because it wins the war against inflation, but because it surrenders. We will not have a soft landing and may even have another financial crisis in 2023 that the Fed will worry more about than worsening inflation.

( Again, I agree, they've (The Fed) have known all along they couldn't raise interest rates above the inflation rate, so why wouldn't they surrender to it?

Inflation hasn't even really started, let a lone peaked.)