THIS IS SERIOUS: Most People Have No Idea What's Happening in America current events world news 2022 Peter Schiff says What zero represents is Joe Biden's understanding of the U.S economy, because he has no clue what's going on. You can't brag about the fact that we had one low month.. Where high prices didn't get any higher. It's not like they went down, they just didn't go up. But if people were struggling with high prices, their struggle didn't get any easier in July. It remained the same. What would've been good is if prices could have come down. But they didn't come down. And in fact, the only reason that the headline number didn't go up was because we finally got some relief at the pump, gas prices came down, but a lot of other prices, food prices keep going up, rents keep going up. Peter Schiff goes on to say We are nowhere near done with this inflation problem. It is gonna be here for years and years and years, probably the remainder of this decade. And probably then some, as they keep telling us, this is a very unique recession. In fact, most people don't even want to admit. That we have one, but look at the recessions of the 1970s, you had rising prices there during stagflation. And that's what my forecast is. Remember last year I was predicting the U.S economy would be in recession in the first half of 2022. And very few people had that. Right. Peter Schiff claims But I also predicted that inflation wasn't transitory. That it would get stronger as the economy got weaker. And that is exactly what happened. Peter Schiff then says Now, the reason that I believe that inflation is gonna kick into a higher gear as this recession that we are in gets worse. Is because I believe Hal is going to pivot ultimately, and he is gonna give up his fight against inflation in order to fight a different foe.