A worse crisis than 17 years ago is coming. The consequences will be dramatic.

• Peter Schiff warns that the United States may soon experience a financial crisis worse than the one of 17 years ago.
• According to the economist, the current government mistakes and new tariffs distorting international trade are leading to higher inflation, rising interest rates and a weakening of the US economy.
• Schiff emphasizes that the consequences will be dramatic and recommends preparing for a much more serious crisis than the stagflation of the 1970s.

Peter Schiff, a renowned economist, warns that the United States may soon experience a financial crisis worse than the one of 17 years ago , and its consequences will seriously hit the entire economy.

In statements quoted by "Bitcoin.com News", Schiff accused the authorities of ignoring clear warning signs of serious problems, emphasizing that the current situation is reminiscent of the period before the 2008 crisis, and the same mistakes are being repeated.

The economist warned that the new tariffs would disrupt international trade, cause a sharp increase in inflationary pressures, and further deepen global economic problems.

Fewer goods will enter the country, and fewer dollars will flow abroad. More money chasing fewer goods means higher prices at home, he emphasized.

A decline in the trade deficit leads to fewer capital inflows to purchase US Treasury bonds, which could raise long-term interest rates.

According to Schiff, higher prices and interest rates:

• will weaken the US economy ,
• will increase the budget deficit;
• Tax cuts for the middle class will contribute to an increase in the deficit and intensify demand pressure on the limited supply of goods, which may intensify economic problems.

"Get ready. This won't be 1970s-style stagflation. It will be something much worse," he concluded.