Economist and outspoken crypto critic Peter Schiff has raised alarm over the current market conditions, suggesting the situation could spiral into a crash akin to the infamous 1987 Black Monday.
In a series of recent posts on X, Schiff voiced concerns about the ongoing turmoil in the bond market and its potential to trigger a severe financial crisis.
Tariffs Could Spark Financial Crisis Worse Than 2008, Schiff Warns
Schiff, known for his pessimistic views on the U.S. economy and his strong support for gold, believes that without urgent intervention, including an emergency interest rate cut and a substantial quantitative easing (QE) program, the situation could lead to a market collapse.
He argued that the market turmoil caused by Trump’s tariffs could spiral into a crisis even worse than the 2008 financial crash.
The economist specifically pointed out the collapse in the U.S. treasury market, which he believes signals that Trump’s strategy to lower interest rates by inducing a recession has backfired. According to Schiff, the continuation of these tariffs without any relief could spark an even worse financial crisis, deeply affecting the U.S. economy.
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Source: https://coindoo.com/peter-schiff-warns-of-possible-1987-style-crash-due-to-trumps-tariffs/