Peter Schiff’s Take on the US Financial Crisis: Too Much Government Regulation?
The recent financial crisis in the United States has reignited debates about the most effective ways to safeguard the crumbling economy and identify potential causes, with economist Peter Schiff arguing that too much government regulation is to blame for the worst of the crisis.
Schiff, a prominent economist and gold bug, shared his thoughts on the matter in a series of tweets this week.[0] He noted that the government imposed a great deal of new banking regulations after the 2008 financial crisis, while claiming that “what is happening right now would never happen again.”[1] However, he believes that this crisis could be worse than the 2008 crisis due to the increased regulations.[0]
Additionally, Schiff pointed out that the federal government has taken on an extra $7 trillion in unfunded liabilities due to the wave of bank deposits that are uninsured. This could potentially worsen the crisis, with Schiff tweeting that “this adds about $7 trillion in additional unfunded liabilities to the U.S. Govt.”
The opinion of Peter Schiff and other economists and financial experts will be critical to finding solutions to the current crisis. As the federal government looks for ways to prevent a similar situation from happening in the future, their advice will be invaluable.
0. “Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless …” Bitcoin News, 19 Mar. 2023, https://news.bitcoin.com/economist-peter-schiff-expects-worse-financial-crisis-than-2008-says-future-rate-hikes-are-now-pointless/
1. “Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis” Cointelegraph, 19 Mar. 2023, https://cointelegraph.com/news/peter-schiff-blames-too-much-gov-t-regulation-for-worsening-financial-crisis
