PIMCO and Peter Schiff just nuked the AI hype with default wave and worse-than-2008 crisis warnings

Bond guys positioning for recession while retail chases the narrative
PIMCO admits credit loss cycle already rolling
Lower quality borrowers leveraged junk private credit about to explode
AI disruption smashing overindebted businesses
Markets sitting there complacent like subprime never happened
Schiff on Fox live screaming this beats 2008 picnic
Guy who called the last crash with billions under management