Investor who predicted Great Recession says national deficit will cause another, even worse recession

No one can deny that the economy is strong. Spurred largely by President Trump's pro-business agenda, unemployment is low, GDP is rising, and economists are hopeful for the future.

But it can't last forever. 

Asset manager Peter Schiff predicted the Great Recession in 2007, and now he's worried about another recession spurred not by the housing markets but by the federal government's irresponsible spending.

Per CCN.com:

Unemployment remains low and GDP is still full of steam. Bright Q4 corporate earnings and trade war detente with China could push the Dow to 30,000 in a few days.

So why is the U.S. budget deficit growing at recession levels?

Peter Schiff, CEO and chief global strategist for Euro Pacific Capital, said Monday it’s proof the economy is not as strong as it seems in the Trump era. 

The actual national debt grew by over $1.2 trillion in 2019. That's just over $100 billion per month. The rise in 2020 will be even greater. If we really had a good economy, the deficits would be getting smaller, not larger.https://t.co/C1GoTERAZR

— Peter Schiff (@PeterSchiff) January 14, 2020

He warned again Wednesday morning in no uncertain terms:

"A sovereign debt and dollar crisis now looms larger than ever."

Here’s why markets should heed his words carefully.

Click here to read the full article.

Reckless government spending will have real consequences for average Americans. It might not happen this year or next, but eventually the economy will suffer due to irresponsible deficit spending.

We have to take action before it's too late. Congress has shown itself too preoccupied with political infighting to take a stand for our children's future, which is why we must call the first-ever Article V Convention of States.

A Convention of States is called and controlled by the states and has the power to propose constitutional amendments. These amendments, once ratified by 38 states, will force Congress to get our nation's fiscal house in order. A Convention of States can propose a balanced budget amendment, along with spending limits and tax caps to keep the feds from simply raising taxation to balance the budget.

We don't have to live under this cloud of deficit-fueled recession. We can secure a solid financial future for our children and grandchildren, but only if we come together to call a Convention of States.

Sign the petition below to show your support!