US fund manager blows the whistle
Besides his health, Joe Biden now has the “Volkswagen problem”
Not only could the American president’s physical and mental fitness take a toll on his political future, he now also has the so-called “Volkswagen problem”. Fund manager Peter Schiff says it is not just a comparable scandal, but in his view even worse.
Perhaps the German carmaker thought it could fool the United States. As is well known, Volkswagen installed illegal software in some of its diesel cars that was designed to cheat on emissions tests.
After the scandal was exposed, the carmaker was forced to pay billions in fines and compensation. The company’s reputation was also severely damaged.
According to fund manager Peter Schiff, the US president could now face a similar fate. Schiff argues that Biden is also involved in a major scandal, which he calls the “Volkswagen problem”.
“The government is lying to the American people about the true state of the economy,” Schiff told the Epoch Times. “They are cooking the books and manipulating the data to make it look like the economy is doing better than it actually is.”
Schiff points to the recent inflation figures, which show that prices are rising at their fastest pace in decades. He says the government is trying to downplay the problem by claiming that it is only temporary.
“But I don’t believe them,” Schiff said. “I think we are on the verge of a major economic crisis.”
If Schiff is right, then Biden could face major political problems. The economy is one of the most important issues for voters, and if they believe that Biden is not being honest about the economy, they may be less likely to vote for him in the next election.
The “Volkswagen problem” could therefore become a major obstacle to Biden’s political future.
- According to fund manager Peter Schiff, the Biden administration is lying to the American people about the true state of the economy.
- Schiff says the government is cooking the books and manipulating the data to make it look like the economy is doing better than it actually is.
- Schiff points to the recent inflation figures, which show that prices are rising at their fastest pace in decades.
- If Schiff is right, then Biden could face major political problems.
Kind regards E. Thompson.
