Democracy has Failed, Not Capitalism – Ep. 458

Democracy has Failed, Not Capitalism – Ep. 458

VERY IMPORTANT PODCAST! Please share with everyone you care about. Ray Dalio: Please start at 29:52
Extreme Inequality Is Not a Function of Capitalism
I agree that wealth inequality is a problem, but it is a problem that is created by government - created by the Federal Reserve. I was warning years ago, when the Federal Reserve first launched Quantitative Easing, that this was going to happen! This policy would only benefit assets at the expense of the overall economy. I've been warning about this for years. The government is doing this, not the market. So, yes, I want the government to do something about wealth inequality by getting out of the way. I want Capitalism to do something about inequality. Now, of course, there's always going to be inequality - that's part of capitalism. People are not going to be equal, because peoples' contributions are not equal. What is not normal right now is the extent of the disparity. That extreme inequality is not a function of Capitalism. if we enjoyed Capitalism, there would be less inequality.
We Need to Embrace and Re-Discover Capitalism
Ray Dalio recently replied to a recent Tweet of mine, referring to his appearance on 60 Minutes, stating that if the only solution Ray Dalio has is to raise taxes on the rich, and to hope the government spends the money productively, then he has no solution. So then he referred me to his article, which I read, word for word: Why and How Capitalism Needs to be Reformed, parts 1 and 2. Again, Capitalism does not need to be reformed. What needs to be reformed is Democracy. We need to embrace and re-discover Capitalism and what needs to be reformed is all of the Socialism that has been interjected into Capitalism.
Government Makes It Difficult for Small Businesses to Hire Young People
I told Ray Dalio that I would read his article and I read it and made some notes and I'm going to go over my thoughts now. Number one, right off the bat, Dalio talks about all the jobs he had by the time he was age 12. He came from humble beginnings, he wasn't born wealthy, he is a rags-to-riches story, an American Dream story. By the time his was 12, he made money delivering newspapers, mowing lawns, caddying, and he invested the money he earned in the stock market. The first thing that grabs my attention is, "how many 12-year-olds today have jobs?" Very few young people today have jobs. Why is that? one of the reasons is because the government has made it so difficult for small businesses to hire young people - minimum wage laws, and workmen's comp, disability, unemployment make it difficult for young people to get jobs. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

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SchiffRadio Podcast Episode 4

SchiffRadio Podcast Episode 4

Episode 4 Synopsis * Launch of the iPhone 6 * Surprising employment arbitration results * Housing market rolls over * Hotel minimum wage * World Bank head claims that QE works Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

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SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

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SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

15 Syys 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

9 Syys 20141h 52min

Schiff Radio – January 1, 2014

Schiff Radio – January 1, 2014

Happy Holidays!, Due to the holidays, Peter Schiff Show is airing best-of broadcasts. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Tammi 201449min

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