Peter Schiff Slams Trump’s Economic Moves, Warns of Crisis Worse Than 2008

Fridah Kangai
May 22, 2025
3:30 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Schiff blames Trump’s tax policies for pushing U.S. debt past $36 trillion.
He accuses the Trump administration of manipulating the crypto market for insider gain.
Schiff warns that Trump’s economic agenda could lead to a crisis worse than 2008.

Economist Peter Schiff has criticized the Trump administration‘s economic actions and finances more substantially. He said that Trump’s decisions on the economy might result in a more disastrous financial collapse than the one seen in 2008. Schiff warned that allowing the reforms of the 2017 Tax Cuts and Jobs Act to keep going is a dangerous move.

He claimed taxes required more funds than necessary and caused the national debt to rise above $36 trillion while lowering fiscal discipline. After hearing what Treasury Secretary Scott Bessent said about Moody’s downgrade, Schiff blamed Biden.

Trump supporters question why my posts have been so critical of Trump, especially since I endorsed his candidacy. I think Harris would have been worse, especially if voters also gave the Democrats both houses of Congress. Plus, Trump has done several positive things, which I may…
— Peter Schiff (@PeterSchiff) May 20, 2025

According to Schiff, Moody’s identified Trump’s tax extensions as a factor behind the reduced credit rating. He also took issue with Trump’s trade strategy, claiming that tariffs function as hidden taxes on American consumers. Schiff pointed out that the tariffs contribute to inflation, cause prices to soar, and increase businesses’ expenses.

Schiff Accuses Trump of Crypto Manipulation and Political Self-Interest

Schiff objected to Trump’s goal of building a bitcoin reserve for the U.S. government. He said the plan for cryptocurrency did not have sufficient security and could be taken advantage of by abusers. A few months ago, Schiff said the Trump administration may have used its position to advance its own interests in cryptocurrencies.

He alleged that certain government announcements inflated crypto prices before strategic selloffs benefitted connected individuals. Schiff urged Congress to investigate after claiming that official economic policy was being used to control the market.

In his latest remarks, he said again that members of Trump’s family may have taken advantage of his presidential position for financial gain. He warned that if the economy did not improve, people might get angry and push for a major change in those who lead in the next election.

Peter Schiff continues to express his view that President Trump’s economic actions are risky. As debt continues to increase and worries about inflation rise, more financial experts and analysts are paying attention to his remarks.

Also Read: Robert Kiyosaki Predicts 2025 Crash After Shocking US Credit Downgrade