Economist E.J. Antoni Says The American Consumer Is Officially Out of Money

The U.S. economy is running out of road, and the reckoning is near, warns economist E.J. Antoni. In this explosive Kitco News interview with Jeremy Szafron, Antoni delivers a sobering assessment of America’s debt-driven economy, arguing that the American consumer is officially tapped out and that the Federal Reserve is trapped between two disastrous choices: a credit collapse or runaway inflation.

Antoni—former nominee to lead the Bureau of Labor Statistics—calls the current jobs data a “scandal,” claiming the BLS has relied on flawed models since 2022 to paint a false picture of strength while masking deep structural weakness. He reveals alarming consumer debt figures, showing that 90% of Americans have burned through their savings, as credit cards, auto loans, and mortgages stretch households to the brink.

“The government’s addiction to spending is the original sin,” Antoni says, arguing that reckless fiscal policy has forced the Fed’s hand and left policymakers with no painless way out.

In this must-watch economic breakdown, Antoni outlines the sequence of events he believes is now inevitable—from consumer defaults to potential monetary crisis—and what it means for your savings, your dollar, and your financial future.

Recorded on October 30, 2025

Follow Jeremy Szafron on X: @JeremySzafron (https://x.com/JeremySzafron)
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00:00 Introduction and Market Overview
00:24 Federal Reserve's Interest Rate Cut
00:54 US-China Trade Truce
01:23 Economic Analysis with Dr. EJ Antoni
01:44 Hawkish Fed and Quantitative Tightening
02:15 Repo Market and Financial Crisis Risks
03:13 Inflationary Pressures and Treasury Yields
07:05 Consumer Debt and Economic Warning Signs
08:59 Commercial Real Estate and Banking Sector
09:32 Federal Reserve's Bailout Policies
10:19 Quantitative Easing and Monetary Inflation
12:43 Gold as an Investment
16:18 US-China Trade Deal Details
20:49 Data Blackout and Market Implications
25:08 Future of Federal Reserve Leadership

#FederalReserve #Inflation #DebtCrisis #Economy #Gold
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