Senate Rearranges the Deck Chairs – Ep. 300

Senate Rearranges the Deck Chairs – Ep. 300

No Real Tax Relief
Yesterday the Senate released their version of the Tax Cut and Jobs Act, and it is not that different from the House version. There are some differences, some of which I will get into, but the main problem is not the difference, but the similarity. The plans don't deliver any kind of substantial tax relief, in the manner that President Trump refers to as, "the biggest tax cuts ever". It's not even close. For most people, there will be minor tax cuts and for other people there are actually minor tax increases.
Democrats: "I'll Give You Something You Did Not Earn!"
The real problem, again, is that Republicans can't really be Republicans, given how much debt we have. They like to talk about lower taxes - that's how they get elected: "We're going to lower your taxes!". The Democrats are generally the party of, "I'm going to increase your benefits! Vote for me and I will give you something you did not earn." What the Republicans used to say is, "Vote for me and I'll let you keep more of what you did earn." That was really the difference between the Democrats and the Republicans. The Democrats were about taking things from other people and the Republicans were about keeping your stuff.
You Can't Take Away an Entitlement
The problem is, too many Republicans are really Democrats or they're afraid to cut any government spending. At this point, the deficits are so big that you can't really have big tax cuts unless you're willing to cut government spending. Most Republicans are not willing to do that. Sometimes they will vote not to create a new government entitlement, but they will never vote to take something away, which is why they didn't really want to take away Obamacare. A lot of Republicans didn't vote for it, but they are not going to vote to kill it.
Small Government Everywhere but in the Military
The problem is, if you really want to cut spending so you can have tax cuts, where's the money? The defense budget is big, and most Republicans don't want to cut defense - that' s the only place they like big government (in theory) is defense. They want small government everywhere except in the military. So there are not very many Republicans who are willing to cut defense to enable the tax cuts.
So What's Left for Republicans to Cut?
Now you got Social Security and Medicare, but a lot of Social Security recipients vote Republican. So the Republicans don't want to cut Social Security and don't want to cut Medicare because they are afraid of how the voters will react. So that's off the table. You can't cut interest on the debt, unless you're going to default on the debt; nobody wants to do that. In fact, interest on the debt is going to go up as interest rates go up. So what's left that Republicans (in theory) can cut? They are afraid of being labeled mean, heartless, taking away programs for the poor, the needy - so there's really nothing that the Republicans are willing to cut, so they can't give any tax cuts. They don't want to level with their constituents and say that they can't cut your taxes because then, what's the point of voting Republican?

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Jaksot(1081)

Will 2025 Be the Year the Bubbles Finally Burst? - Ep 1001

Will 2025 Be the Year the Bubbles Finally Burst? - Ep 1001

Stock markets, gold's stability, inflation, and economic predictions.Cut your wireless bill to $15/month at https://mintmobile.com/gold. $45 upfront payment required. For new customers on the first 3 month plan only.Sign up for a $1/month trial period at https://shopify.com/goldIn his latest podcast episode, Peter Schiff discusses significant movements within the economy, reacting to recent news in the market and politics. He begins by reflecting on his previous milestone podcast and wishes his listeners holiday greetings. Schiff provides in-depth analysis on the latest market trends, including the Dow's performance, the fluctuating gold and bond markets, and the Japanese government's bond yields. He critiques government spending policies, the inflationary impacts of rate cuts, and predicts a continuous rise in long-term treasury yields. Schiff also highlights the implications of a potential global financial shift, the impact of tariffs on the U.S. economy, and the rising U.S. deficit. He concludes by warning of a looming economic crisis and the potential consequences for the U.S. dollar and global markets, while emphasizing the significance of investing wisely in these volatile times.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction and Holiday Greetings03:02 Market Overview and Stock Performance04:18 Gold and Bond Market Analysis07:05 Global Economic Trends and Predictions11:25 US Debt and Political Commentary15:43 Social Security Fairness Act21:20 Trade Deficit and Economic Concerns29:41 Bitcoin Reserve and USA Coin Proposal32:30 Bitcoin Bubble and Economic Distortions35:56 Economic Data and Market Reactions41:50 Oil Prices and Inflation Dynamics46:39 Fed's Dilemma: Inflation vs. Recession54:36 Conclusion and Future Plans#inflation #cryptocurrency #stockmarketOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

28 Joulu 202453min

The Great Rate Cut Rug Pull  - Ep 1000

The Great Rate Cut Rug Pull - Ep 1000

Jerome Powell's rate cut, market drops, economic risks, inflation, and the future of the economy.Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldFor 20% off your Momentous order, head to https://livemomentous.com and use code GOLD.Laughing Cats https://open.spotify.com/artist/2f3z6IPGfomCl9FsJeyb8dIn this milestone 1000th episode of the Peter Schiff Show Podcast, Peter broadcasts from an unconventional setup due to technical issues, as he covers a dramatic day in the markets. Jerome Powell's Federal Reserve announces a 25 basis points interest rate cut to meet market expectations, but the stock market reacts negatively with significant losses. Peter discusses the historic losing streak in the Dow, investor optimism around speculative assets, and the financial risks posed by an expensive market amidst rising inflation and interest rates. He critiques Jerome Powell’s perception of a strong U.S. economy and labor market, highlighting negative data revisions and continuing economic vulnerabilities. Peter also addresses the implications of rising U.S. deficits, government spending, and a surging dollar on global inflation. He predicts further turbulence for the housing and financial markets, the potential for a bear market, and the likelihood of resumed Fed easing measures. Schiff concludes with insights on gold and silver investments, market disconnects, and political dynamics impacting economic policies.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction and Sponsorships01:31 Market Overview02:35 Federal Reserve's Interest Rate Cut03:00 Market Reactions and Historical Context05:40 Gold and Stock Market Analysis15:56 Commercial Break17:23 Economic Indicators and Current Account Deficit22:24 Global Economic Impact and Predictions34:43 Bitcoin and Cryptocurrency Update35:02 Bitcoin's Decline and MicroStrategy's Moves35:47 Congress and Social Security Spending36:32 Trump's Stance on Bitcoin38:31 Economic Indicators and Manufacturing Data39:28 Retail Sales and Consumer Debt40:46 Fed's Monetary Policy and Market Reactions43:41 Industrial Production and Economic Weakness45:17 Fed's Press Conference and Rate Cuts48:31 Future Economic Predictions and Market Strategies01:00:11 Closing Remarks and Personal Updates#FederalReserve #InterestRates #StockMarketAnalysisOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

19 Joulu 202459min

Exploding Debt to Reignite Inflation - Ep 999

Exploding Debt to Reignite Inflation - Ep 999

Peter Schiff discusses rising inflation, U.S. fiscal deficit, and accuses J5 of conspiring against his bank for a publicity stunt.Go to https://lucy.co/gold and use promo code GOLD to get 20% off your first orderPeter Schiff dives deep into the latest economic news, uncovering alarming inflation reports, the soaring U.S. budget deficit, and misguided fiscal responses. He critically analyzes political and media narratives about the U.S. economy, especially those surrounding recent elections and economic policies under both Trump and Biden administrations. Schiff reveals bombshell evidence of IRS and J5 collusion in the shutdown of his offshore bank, dissecting the motivations and consequences of such government overreach. He provides insights into the global economic impact, the future of inflation, and offers advice on safeguarding financial assets. As always, Peter's perspective is a stark contrast to mainstream economic discourse, shedding light on often overlooked truths.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffChapters00:00 Introduction and Opening Statements00:53 Sponsorship Message: Lucy01:20 Market and Inflation Overview01:59 Fiscal Deficit Concerns08:35 Inflation Data Analysis13:44 Gold and Inflation Paradox23:21 Trump's Economic Policies and Critique29:56 Predicting Political Shifts and Economic Trends30:38 Debunking Inflation Myths32:35 The Impact of Tariffs and Historical Parallels37:38 Revealing the IRS Conspiracy39:55 Smoking Gun Evidence and Legal Battles47:26 The Aftermath and Media Manipulation01:02:23 Final Thoughts and Call to ActionOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

14 Joulu 20241h 1min

Misplaced Outrage: The Truth About Health Insurance Companies - Ep 998

Misplaced Outrage: The Truth About Health Insurance Companies - Ep 998

Gold reaches record highs, silver follows. Market reactions, inflation concerns, Fed's policies, Bitcoin scrutiny, and Trump's political stance.Mint Mobile: Cut your wireless bill to $15/month at mintmobile.com/gold. $45 upfront payment required. For new customers on the first 3 month plan only.Nutrafol: Get $10 off your first month’s subscription + free shipping at https://nutrafol.com when you use promo code GOLDPeter Schiff discusses the significant rise in gold prices, noting that gold is nearing its all-time high in Australian dollars and other currencies while lagging in the U.S. dollar. He explains the underperformance of gold mining stocks and touches on labor costs in Australia. Peter also critiques current market sentiments, especially around Bitcoin, arguing against Michael Saylor's extreme advocacy and highlighting the potential risks of institutional investments in Bitcoin. Schiff then shifts gears to politics, offering a critical analysis of Donald Trump's economic policies, including misleading claims about inflation and tariffs. He also examines Trump's stance on entitlements and his approach to immigration reform. Concluding with poignant contrasts between the Daniel Penny and Luigi Mangione cases, Peter offers a compelling narrative on the current socio-political climate.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Gold's Meteoric Rise and Market Analysis02:51 Gold Mining Stocks and Market Sentiment05:33 Silver's Performance and Investment Advice08:02 Bitcoin's Market Dynamics and Institutional Investments09:43 Bitcoin vs. Gold: A Critical Comparison11:48 Political Influence on Bitcoin and Economic Policies20:40 Trump's Economic Claims and Tariff Policies35:54 Trade Deficits and Misconceptions37:33 Trump's Deportation Stance39:31 Youth Vote and Political Naivety41:18 Trump's Infallibility Complex42:38 Entitlement Reform and Obamacare46:49 Healthcare Industry and Insurance54:22 Contrasting Murders: Luigi and Penny01:02:22 Podcast Wrap-Up and Upcoming Topics#GoldMarket #BitcoinInvesting #USPoliticsOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

11 Joulu 202459min

Bitcoin Tops $100K on Expected Government Bailout - Ep 997

Bitcoin Tops $100K on Expected Government Bailout - Ep 997

Discusses market's record highs, job report boosts, consumer sentiment post-Trump election, Bitcoin surge, and upcoming economic challenges.- Get 15% off OneSkin with the code GOLD at https://oneskin.co- Go to https://legalzoom.com and use promo code SCHIFF to get 10% off.Peter Schiff discusses the new record highs in the S&P 500 and NASDAQ, the slight downturn in the Dow, and the significant jump in consumer sentiment post-election. Schiff emphasizes the discrepancy between consumer optimism about Trump's election and his own skepticism. He critiques Jerome Powell's inflation forecast and the reliability of job reports, highlighting an ironic spike and drop in Bitcoin prices. Schiff touches upon job market anomalies, rising consumer credit despite high interest rates, and the potential implications of political changes on the financial market. He concludes with a critical view on the feasibility of the proposed 3-3-3 economic plan and the broader economic implications of Trump’s policies and Bitcoin expectations.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction and Market Update02:45 Consumer Sentiment and Election Impact05:34 Jobs Report Analysis06:12 Bitcoin's Rollercoaster Ride07:25 Economic Data and Government Jobs16:28 Bitcoin and Government Policies31:03 The Impact of Bitcoin on the Economy33:08 Consumer Credit Numbers Analysis36:34 Job Cuts and Unemployment Data37:10 Trade Deficit Insights39:31 Scott Bessent's Economic Plan45:58 Challenges of Reducing Budget Deficits54:48 Oil Production Goals and Economic Realities59:26 Conclusion and Final Thoughts#Bitcoin #Trump #economyOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

6 Joulu 202456min

Powell Knows the Public Can’t Handle the Truth - Ep 996

Powell Knows the Public Can’t Handle the Truth - Ep 996

Discussion on US comments, import/export dynamics, reserve currency, major exports, economic data trends, and constitutional aspects of the exit tax.Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldSign up for a $1/month trial period at https://shopify.com/gold😹 🎶 New music video 'Jerk' by Laughing Cats: https://www.youtube.com/watch?v=iLpkHV5JvEAPeter Schiff addresses comments from his previous podcast about America's imports and elaborates on the nation's dependency on them. He explains the significant trade deficit and America's reliance on the dollar's reserve currency status, which allows for importing more than exporting. Schiff also provides insights into the economic repercussions of this imbalance, highlighting the country's major exports. The podcast discusses the federal financial burden, economic data releases, and the consequences of high interest rates on national debt. Schiff finishes with commentary on current events, including Biden's pardon of Hunter and Roger Ver's tax evasion case challenging the constitutionality of the exit tax.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffChapters:00:00 Introduction and Addressing Comments02:10 America's Import and Export Dynamics03:39 Top 10 American Exports17:02 Economic Data and Market Reactions27:08 Interview with Jerome Powell36:14 The Debt Bubble and Interest Rates38:27 Promotions and Announcements42:06 Biden's Pardon of Hunter44:48 Fraud and Legal Battles51:10 Roger Ver and the Exit Tax01:04:14 Conclusion and Final Thoughts#JPowell #Fed #EconomyOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

5 Joulu 20241h 2min

Bye-Bye, What Americans Buy - Ep 995

Bye-Bye, What Americans Buy - Ep 995

Peter Schiff discusses Black Friday's origin, American consumerism, the nation's heavy reliance on imports, and Trump's economic policies.This episode is sponsored by:OneSkin: Get 15% off OneSkin with the code GOLD at https://oneskin.coLucy: Go to https://lucy.co/gold and use promo code GOLD to get 20% off your first orderPeter Schiff discusses the concept of Black Friday and its origins, contrasting it with current perceptions of economic strength. He delves into the United States' heavy reliance on imported goods, listing numerous products and categories predominantly produced abroad. Schiff criticizes American consumer habits, particularly the reliance on debt for holiday spending, and challenges the notion of economic strength based on consumption rather than production. He critiques Donald Trump's trade policies, immigration stance, and economic strategies, arguing that America's perceived strength is a myth dependent on unsustainable consumption and foreign production. Schiff also touches on the impracticality of Trump's proposals for cutting government spending and tariffs, emphasizing the need for long-term investments and sacrifices to rebuild America's productive capacity.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffChapters:00:00 Introduction and Opening Remarks01:45 The History and Significance of Black Friday05:03 Economic Misconceptions and Consumer Behavior08:57 The Reality of American Consumption11:01 Trump's Views on the Dollar and BRICS17:49 The Consequences of Losing Foreign Goods30:57 America's Dependence on Imported Goods31:19 The Coffee and Seafood Shock33:09 Produce and Other Imports33:59 The Illusion of a Strong Economy36:42 The Reality of American Imports38:30 Trump's Economic Promises and Reality39:14 The Challenge of Reindustrializing America43:36 Immigration and Labor Policies49:23 Tariffs and Government Spending51:59 The Future of the American Economy01:01:10 Conclusion and Final Thoughts#AmericanEconomy #BlackFridayHistory #EconomicPolicyOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

2 Joulu 202457min

Tariffs: Not the Turkey We Want This Thanksgiving - Ep 994

Tariffs: Not the Turkey We Want This Thanksgiving - Ep 994

Peter Schiff discusses Thanksgiving's capitalist roots, the Pilgrims' failed socialism, tariffs' economic impact, and recent market trends.Cut your wireless bill to $15/month at http://mintmobile.com/gold.Visit http://indeed.com/peter to start hiring now.Peter Schiff's Thanksgiving special podcast from St. Barths offers a compelling narrative on the history and lessons of Thanksgiving, celebrating capitalism over socialism. Drawing parallels between the early Pilgrims' failed communal experiment and Karl Marx's theories, Schiff emphasizes the pivotal role of individual incentives and free markets. He transitions into discussing current economic data, trade deficits, and the impact of tariffs under the Trump administration, debunking common economic misconceptions. Schiff argues that tariffs harm the US economy more than they benefit it and critiques government monetary policies, predicting economic challenges ahead. He concludes with reflections on the resilience of human nature and the enduring principles of capitalism.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction02:24 Thanksgiving and Capitalism05:14 The Pilgrims' Experiment with Socialism09:28 The Shift to Capitalism and Its Success12:22 Modern Implications of Pilgrims' Lessons18:38 Gold Market and Global Economy26:19 Impact of Tariffs on the Dollar30:16 Final Thoughts Before Break32:11 Debunking Tariffs and the Strong Dollar Myth33:49 The Impact of Tariffs on Trade Deficit36:38 Manufacturing Sector and Economic Weakness40:48 Tariffs and Inflation: A Misunderstood Relationship44:17 Global Trade and Comparative Advantage49:37 Economic Data and Market Reactions57:35 Conclusion and Final Thoughts#capitalism #Tariffs #ThanksgivingOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

27 Marras 202455min

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