"I think we have a greater distortion and a financial danger sitting out there bigger than ever before," warned former presidential candidate Ron Paul in an ominous interview with CNBC this week.
While markets briefly got nervous over Trump's tariffs last week, Paul warns Wall Street is missing the bigger picture and that the real trouble stems from Fed policy and easy money...
"If the Fed continues on the things that they are sort of planning on doing, it's going to be a calamity."
The former Texas congressman explained that The Fed has made critical policy errors that have helped caused a "rigged economy."
It's the debt, stupid, is Paul's clear message...
"Everything is just very burdened with debt, and there's no stopping it."
According to Paul's latest prediction, the February pullback may be just a blip compared to what's ahead.
"The correction is going to be huge, and I don't think anybody can predict. But I think this correction we had in '08 and '09 wasn't allowed to really go its course and restore some sensibility to the market. I think that'll be a mild correction compared to what could happen."
Paul warns investors should not be shocked by a stock market plunge as deep as 50 percent.