‘Ticking time bomb’: Peter Schiff issues stark warning over US stock market — and the ‘ultimate crash’ is near

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The economist and longtime contrarian investor told TheStreet that investors are ignoring major risks as stocks climb to fresh all-time highs — and warned that the U.S. market could be setting up for a painful reckoning (1).

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“I think investors have gotten a lot of things wrong, but that hasn’t stopped the market from going up,” Schiff said in the interview. “The majority of investors don’t understand the fundamentals. And they buy stocks anyway.”

The upward momentum has been hard to ignore. The benchmark S&P 500 is up 80% over the past five years, while the tech-laden Nasdaq has soared 96%.

“In the long run, the fundamentals are going to ultimately bring the market back down,” he said.