Skinny Repeal was a Fat Lie – Ep. 271
The Peter Schiff Show Podcast29 Juli 2017

Skinny Repeal was a Fat Lie – Ep. 271

Obamacare Repeal Charade Over
The whole charade surrounding the repeal of Obamacare is finally over. The most recent attempt, labeled "Skinny Repeal" was a big fat lie. They weren't really repealing anything, leaving the essence of Obamacare and accelerating Obamacare's death spiral. If Congress had repealed the employer mandates and the individual penalties but left everything else the same, then the number of healthy people making the irrational decision not to buy insurance would skyrocket and the sick people who would still be buying, would be facing higher and higher premiums and costing insurance companies bigger and bigger losses to be subsidized by the taxpayer.
Let the Democrats Own the Disaster
Many Republicans are upset with John McCain, for being one of the 3 Republicans to join all the Democrats in opposing the bill. I think McCain did the GOP a favor. This bill, if passed, would have let the Democrats off the hook. They would have not owned Obamacare, and they would be responsible for its failure. Now we all know Obamacare is still there, it is exactly the way it was passed, the bill President Obama championed and signed, the one that Nancy Pelosi said, "We have to pass it to see what is in it." We passed it, we know what is in it (although most people do not understand what is in it) and it is a disaster.

Late last year most people thought the Republicans were going to repeal it - everybody but me. I didn't think that they had the guts to do it. I had this interview on Russia Today in mid-January, it's up on my YouTube Channel; the title is, "Peter Schiff Very Skeptical of Obamacare Repeal". If you watch that video you will see that I say, "I don't think they're going to repeal it."
No Guts to Repeal
Of course, everybody thought, "of course they are going to repeal it. They've been campaigning on it for years!" The President promised it. Everybody who has run for office as a Republican says, "Elect me and I am going to get rid of Obamacare!". They voted to repeal it many times when Obama was still President. And, of course, every time they voted to repeal it, Obama vetoed it, which of course, the Republicans knew was going to happen. As it turns out, that was the only reason they had the guts to repeal it because they knew it wouldn't actually happen. I knew that the Republicans would have a tough time taking away the free lunch. I knew that a lot of them were promising to repeal but keep the ban on pre-existing conditions and I knew that was impossible. Pre-existing conditions is the very essence of Obamacare. You can't repeal it and preserve it at the same time.
The Stock Market Has Not Gotten the Message
The stock market, however, still doesn't understand the significance. It hit another record high again today. The Dow was up, it closed at a new high today. The NASDAQ and the S&P were down. The transports managed a slight bounce from yesterday's drubbing. Transports were down around 300 points yesterday. Again, more cracks in the armor for the stock market. Look at what happened to Starbucks today. The latest victim of declining retail sales; it was down around 9% today. They reduced their guidance based on a drop in sales, now I don't know if you can blame this on people buying their coffee on Amazon.

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Making Lemonade Out of Economic Lemons - Ep 977

Making Lemonade Out of Economic Lemons - Ep 977

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 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/peterschiffOur 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 Sep 202454min

The Fed Makes Its Biggest Mistake Yet - Ep 976

The Fed Makes Its Biggest Mistake Yet - Ep 976

Market Turmoil, Political Drama, and Economic ForecastsPeter delves into a tumultuous week in the markets and politics. He covers key events including Jerome Powell's Jackson Hole speech and its implications for interest rate cuts, the Democratic National Convention, and Robert Kennedy Jr.'s decision to drop out and endorse Donald Trump. Peter argues that the Federal Reserve is pivoting from fighting inflation to addressing rising unemployment, critiques the state of unemployment statistics and job market data, and discusses the potential for a gold price boom amidst a weakening dollar. Additionally, Peter offers in-depth commentary on the flaws in government spending and social security, the misrepresentations in political narratives, and explores future economic outlooks. He closes with a call to invest in gold and gold stocks.NetSuite is offering a one-of-a-kind flexible financing program. http://netsuite.com/gold🟨 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/peterschiffOur 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

24 Aug 202455min

Gold Breaks $2,500. Harris Would Send it to the Moon - Ep 975

Gold Breaks $2,500. Harris Would Send it to the Moon - Ep 975

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17 Aug 202455min

Inflation Data Supports Rate Hikes, Not Rate Cuts - Ep 974

Inflation Data Supports Rate Hikes, Not Rate Cuts - Ep 974

Peter Schiff dissects the latest inflation data, emphasizing the government's manipulation in underreporting true inflation figures. He compares the July CPI and PPI reports, suggesting real inflation rates could be double the official numbers.Schiff highlights the significant federal budget deficit and its implications for future inflation. He argues that the Federal Reserve's potential rate cut is politically driven and could backfire.Schiff also discusses the repercussions of government policies on industries like solar energy, resulting in SunPower's bankruptcy. He critiques government intervention in housing, education, and healthcare, asserting these measures have increased costs and decreased efficiency.Lastly, Schiff commends Elon Musk's take on inflation and calls for substantial reductions in government spending and more market-driven solutions.⭐️ Visit https://indeed.com/peter to start hiring now.🟨 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/peterschiffOur 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

15 Aug 202455min

Bank of Japan Rescues the Markets... For Now - Ep 973

Bank of Japan Rescues the Markets... For Now - Ep 973

Peter returns to his Puerto Rico studio after an extended vacation. He discusses recent market volatility, including movements in stocks, Japan’s market crash, and cryptocurrency fluctuations. Peter critiques the Fed's decision not to cut rates, arguing that delaying cuts only worsens economic pain. He predicts future rate cuts and quantitative easing, and shares insights on gold and mining stock investments. Additionally, Peter analyzes the political landscape, focusing on Kamala Harris's VP pick, and criticizes new UK laws limiting free speech. Peter also advocates for tax reforms and spending cuts to address the deficits⭐️ NetSuite is offering a one-of-a-kind flexible financing program. https://netsuite.com/gold🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com📈 Invest like Peter: https://schiffradio.com/invest🔔 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/peterschiffOur 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

12 Aug 202457min

Will There Be an Emergency Rate Cut to Avert a Crash? - Ep 972

Will There Be an Emergency Rate Cut to Avert a Crash? - Ep 972

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 Peter's most valuable insights at https://schiffsovereign.comFollow Peter Schiff on Twitter: https://twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: https://facebook.com/peterschiffOur 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

3 Aug 202455min

Bitcoin Faction Exposes the Evils of Democracy - Ep 971

Bitcoin Faction Exposes the Evils of Democracy - Ep 971

NetSuite is offering a one-of-a-kind flexible financing program. https://netsuite.com/goldVisit https://indeed.com/peter to start hiring now.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com📘 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/peterschiffOur 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

26 Juli 202453min

Trump Is a Living American Folk Hero That No Democrat Can Beat - Ep 970

Trump Is a Living American Folk Hero That No Democrat Can Beat - Ep 970

Sign up for a $1/month trial period at https://shopify.com/goldNetSuite is offering a one-of-a-kind flexible financing program. https://netsuite.com/goldSign up for Peter's most valuable insights at https://schiffsovereign.comInvest like Peter: https://schiffradio.com/investFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: https://twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: https://facebook.com/peterschiffOur 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

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