Economist Peter Schiff is warning that the US economy is at risk due to its dependence on global lending and high levels of debt. Some reports suggest that the US has reached a record level of debt, comparable to that seen during World War II, and that a financial crisis could be imminent, potentially worse than the one in 2008. The exact nature and timing of the potential crisis are unclear, with some warnings of an "ultimate crash" and others referencing a "particularly risky period" in the future.