‘We’re going to have to have a severe recession if we’re ever going to build a viable economy’: Here’s why one market expert says the US is doomed to default on its debt no matter what
|11/09/2019||Posted by BusinessMediaguide.Com under General World News||
- Peter Schiff, the outspoken CEO and president of Euro Pacific Capital, thinks the gargantuan amount of debt the US is carrying is primed to default.
- He calls repayment “impossible” and sees this mess ending in either an “honest” or “dishonest” default.
- Click here for more BI Prime stories.
For one reason or another, the towering amount of debt the US has racked up over the years seems to be of little concern to market participants and politicians alike.