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Forget the oil prices, the whole US dollar bubble is deflating Peter Schiff to RT

Current economic disaster is like three neutron bombs dropped on us, market analyst tells Boom Bust

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The US Federal Reserve has been attempting to stop investor panic with its emergency actions, but those moves are like firing a water gun when we need a bazooka, Tobin Smith, CEO of Transformity Research, believes.

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Speaking to RTs Boom Bust, the analyst said that the real problem is in the US debt market, as there is four times as much debt than there was in 2008-2009.

US federal budget deficit surpassed $1 TRILLION in 2019, reaching 7-year high

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he noted,Smith warned.First we obviously have the coronavirus and the pandemic,600 points. And now Washington needs to deliver another neutron bomb that offsets the neutron bomb that had been exploded into our system,then weve got the oil pandemic… and then the third bomb is the government sitting around doing sort of half measures when weve essentially had a virtual economic attack.Those factors have equal ripple effects across all the financial system and have already plunged the country into a recession,as a health disaster as an economic disaster is like we got three neutron bombs dropped on us,Cutting Russia off from SWIFT would mean declaration of war Russian PMPakistan wants Tesla plant of its own as Gigafactory opens in ChinaFor more stories on economy & finance visitRTs business sectionRussia & EU on path to cut out the dollar by boosting settlements in national currenciesChina beats US in key patents to secure technological dominance reportRussia has ships to complete Nord Stream 2 pipeline without European helpThis website uses cookies. Read RTPrivacy policyto find out more.This is as a financial disaster,according to Smith.Putin says Russia should be ready for any scenario as oil market suffers steep declineadding that the S&P Index can drop to 1,