Economist corrects Trump and issues ominous prediction: 'Collapse will follow'
Donald Trump's recent economic claims are "backwards," according to an economist who also unleashed a grim prediction about the future for the United States.
Peter Schiff, a financial commentator and radio personality who has been raising alarms about America’s affordability crisis, weighed in over the weekend. Previously, Trump himself went nuclear when Schiff did an appearance on Fox News.
“Why would Fox and Friends Weekend (of all things?) put on a ‘Stockbroker’ named Peter Schiff, a Trump hating loser who has already proven to be wrong. Either the show made a mistake, or it is heading in a different direction,” he wrote in December.
Trump continued, “He thinks prices are going up when, in fact, they are coming substantially down. Gasoline hit $1.99 a gallon yesterday, in certain states, and is down BIG since Biden. Other prices are almost all down. Biden caused the AFFORDABILITY CRISIS, I’M FIXING IT, along with everything else! Much of it, like the Border, is already fixed.”
But when it comes to foreign tariffs, Schiff says Trump is confused.
"Trump has it backwards," he wrote Saturday. "The U.S. doesn’t subsidize the world; the world subsidizes the U.S."
He continued, adding, "The dollar’s reserve-currency status allows us to live beyond our means. Soaring debt, tariffs, and military threats jeopardize that status."
"When it’s lost, economic collapse will follow," Schiff concluded.
In a follow-up post, the expert dropped another warning:
"Since mid-Sept. 2025, the Fed has cut interest rates three times. But despite a 75-basis-point reduction in short-term rates, 10-year Treasury yields have risen 20 basis points and are poised to spike sharply higher. $4,600 gold and $90 silver confirm a debt crisis is coming."
A user asked Schiff, "Can you predict what worse economic policies the Trump administration might roll out next?," to which the economist answered, "Hard to say which one will come next, but it's pretty clear from his track record that any future economic policy he rolls out will be bad."