The U.S. economy has been caught within an upwards tailwind for over a decade now, with investors seeing constant returns while jobs continue to boom and companies continue to grow. One group of investors who have not benefited greatly from this roaring economy is Gold buyers, who will all benefit greatly from an economic crisis.<\/p>\n
One Gold bug \u2013 Peter Schiff \u2013 is now claiming that the coming economic bust will be \u201cbrutal,\u201d which is leading investors to question which assets will fare best in a global recession.<\/p>\n
Although the economy<\/a> is currently showing few signs of any extreme weakness or imminent trend shift, Schiff<\/a> does believe that the markets are heading towards an imminent crash that will be brutal.<\/p>\n He spoke about this in a tweet, saying that the GDP growth is currently being driven solely by consumer excess and government spending, signaling that economic contraction will pop this bubble and perpetuate a downwards crash.<\/p>\n \u201cToday’s revisions to Q3 GDP confirm the U.S. economy is a bubble. GDP \u2018growth\u2019 is driven completely by excess consumer and government spending, as the real economy contracts. But such spending is a function of debt, much of which can’t be repaid.\u00a0 The coming bust will be brutal!\u201d Schiff said in a tweet from earlier this week.<\/p><\/blockquote>\n Today's revisions to Q3 GDP confirm the U.S. economy is a bubble. GDP "growth" is driven completely by excess consumer and government spending, as the real economy contracts. But such spending is a function of debt, much of which can't be repaid. The coming bust will be brutal!<\/p>\n — Peter Schiff (@PeterSchiff) December 20, 2019<\/a><\/p><\/blockquote>\n\n