America is sitting on nearly $40 trillion in debt, interest payments are exploding, deficits keep getting bigger, and nobody in Washington is even pretending to have a serious plan anymore.
And Schiff's explanation for why is brutal: The solution is more catastrophic than the crisis.
Cut spending enough to stop the debt spiral, and you crash the economy.
Raise taxes enough to stabilize the balance sheet, and you trigger a political revolt.
Allow interest rates to rise to where they should be, and the entire system starts falling apart.
So instead, America keeps choosing inflation, more debt, and more delay.
What shocked me was when I asked what happens if interest rates eventually reflect the actual risk of lending money to a government drowning in debt: his answer was that the whole thing implodes.
While everyone is distracted by wars, tariffs, AI, crypto, elections, and the latest political drama, he thinks the biggest story in the world is quietly ticking away in the background.
America's creditors are losing faith, central banks are buying gold, the debt keeps compounding, and one day the people financing this system will decide they've had enough.
@PeterSchiff
