Peter Schiff: Be cautious about the "Trump-induced economic boom," as hidden economic risks and unfulfilled promises may emerge in the future

2024-11-10 10:10:20

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ChainCatcher news, according to News.bitcoin, economist and gold advocate Peter Schiff harshly criticized Trump's economic policies on the social media platform X this week, highlighting the risks he sees in current financial practices and some unfulfilled promises.

Schiff believes that the optimism surrounding the "Trump-induced economic boom" is misguided, pointing out that potential economic vulnerabilities could undermine this positive outlook. He stated that tax cuts are likely to continue, but corresponding spending cuts are almost certain not to happen.

Schiff further warned that uncontrolled deficits could prompt the Federal Reserve to re-implement quantitative easing, leading to increased inflation. For those concerned about inflationary pressures, Schiff suggested that "Trump's best deal right now is to buy when gold and gold mining stocks are down," believing that gold is a stable asset during times of economic uncertainty.

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