E.J. Antoni: 'They Are Tapped Out,' The American Consumer Is Officially Broke

The U.S. economy is built on a mountain of unsustainable debt, and the bill is coming due. According to economist E.J. Antoni, the American consumer is officially "tapped out," and the Federal Reserve is trapped in a corner with only two options: a credit crisis or runaway inflation.  In this deep-dive interview, the former nominee to lead the Bureau of Labor Statistics tells Kitco News' Jeremy Szafron that the official jobs data is a "scandal," arguing the BLS has knowingly used flawed models since 2022 to mask weakness in the economy. He breaks down the alarming consumer debt data showing 90% of Americans have burned through their savings and explains why government spending is the "original sin" forcing the Fed's hand.  Is the U.S. headed for a reckoning? Antoni lays out the path he believes is inevitable and what it means for your financial future.Recorded on October 30, 2025Disclaimer:  The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.