Economist Peter Schiff warned in an April 2026 interview with TheStreet that US stocks are a ticking time bomb and that investors are ignoring major risks as markets hit record highs. He said the US economy is in a lot of trouble and could face not just a financial crisis but a US dollar and sovereign debt crisis, with the national debt climbing toward $40 trillion. Schiff predicted a recession, maybe depression, and said an official downturn could arrive this year or in 2027. He recommended taking profits and moving into precious metals like gold and silver, noting gold was around $4,400 an ounce in early August, roughly 30% higher than a year earlier. Despite his warnings, the S&P 500 was up 12.9% for the year and the Nasdaq up 13.8% as of August 11, with both indexes near record highs.
