As we start to sort through the fallout of the failure of Silicon Valley Bank and Signature Bank and the government’s reaction to it, the next question is: what’s next?
Government officials and mainstream pundits insist everything is fine now. They say quick government action averted a crisis. But in his podcast, Peter Schiff said this is really just the beginning of the next financial crisis.
This is no longer the 2008 financial crisis. This is the 2023 crisis. It’s been a long time — fifteen years since we had a financial crisis. I’m surprised it’s taken this long for this crisis to begin. But I’m not surprised we are having a crisis.”