The Ben Shapiro Show Ep. 1721 - Why Economic Collapse Is Imminent
May 5, 2023
Philip Patrick, a precious metal expert from Birch Gold Group, warns of a looming economic crisis linked to nearly 200 regional banks facing potential collapse. He discusses the fallout from the COVID-19 pandemic on financial stability and commercial real estate. The conversation also touches on rising crime and public safety issues, particularly in urban areas like New York City. Patrick emphasizes the value of investing in precious metals as a hedge against inflation and market downturns, highlighting their importance in uncertain economic times.
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Regional Bank Failures & Recession
- Regional bank failures will cause liquidity to dry up, halting business investments.
- This will lead to a recession similar to 2007-2008.
Government Policies and Economic Risk
- Current economic risks are a direct result of poor government policies.
- These include excessive spending, business shutdowns, and inflation.
Moral Hazard of Government Bailouts
- Government bailouts create moral hazard by removing incentives for responsible risk management.
- Bank executives may take excessive risks, expecting government protection.