🔴 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.



#inflation #biden #economy

00:00 Introduction to Government Inflation Measures
01:03 Analyzing the PPI Report
05:29 CPI Report and Market Reactions
13:57 Deficit Spending and Inflation
26:39 Impact of Tariffs on Solar Industry
31:15 Impact of Tariffs on American Consumers
32:08 Elon Musk and Donald Trump's Space Conversation
34:17 Debate on Union Rights and Strikes
38:44 Government Inefficiency and Spending
49:10 Housing Crisis and Government Role
55:11 Conclusion and Call to Action

[peterschiff]

Auto insurance premiums rose 18.6% YoY, not 16.5%. I remembered it wrong when I mentioned it on the podcast.

[bradtaylor]

The government is like King Midas except everything King Midas touched turned into gold. Everything the government touches turns to shit

[nicolasbenson]

I see the rising interest rate as a very big problem, as more investors will definitely pull out more money from the Stock market. This might have worked when I was still invest-ing with a couple thousand dollars, but it is more difficult now to decide whether to pull out more than $365k from my port-folio. I know some inves-tors still make that despite the strong bear market. In wish I could pull that feat

[WalterMangandid]

Spot on, Peter. Every episode is a magistral class on Economics and Libertarianism. Hope we have you for many more years. 👍🏽

[mdturnerinoz]

I "love' how food & energy are left out: just two key items that AFFECT ALL THE OTHER NUMBERS! GOV FRAUDS!

[WhiteWolf-fpoe]

It’s so refreshing to hear someone that actually understands the inefficiency of government and its effects on economy! As usual, thank you Peter for bringing these things in to focus!

[Abraham.Lincoln]

Peter I really enjoy your newsletter Schiff Sovereign. Very valuable information. 🇺🇸

[scottholod]

Im sure glad i found Peter's channel a few months ago. Peter is one of the best qualified experts that can explain the shit show thats going on world wide! Watching from western Canada 🇨🇦🇨🇦🇺🇲🇺🇲🇺🇲

[Sanchyfab]

Rate hikes?? Phew... This is getting really interesting

[RaymondcrawRaymondCrawley]

The Fed's talk of interest rate cut leaves me pondering what stocks to buy now and when do I sell? I'm unsure how to properly allocate my money to achieve an optimal portfolio in this present economy, my goal is $3m for retirement.

[danielwoolman]

Car insurance almost doubled for me in two years. No tickets or accidents either.

[surfaceartist]

Better than most finance classes I've had

[krispee]

I'm loving the schtick each episode of there being something wrong, whether it is with the Audio, Video, etc. The difference between Peter and the Government is that Peter doesn't create the problem and winds up fixing it =).

[Kbelcher]

There's lies, theres damn lies, and then there's statistics.

[newworldforward]

Politicians agree, government is the solution to everything.

[BrokenChains]

Mr. Schiff, your comments regarding unions were the most cogent and coherent that I've heard in many years.
You're a great American, sir.

[calierik]

No one is commenting on the comedic mic issue in the beginning. He was pissed about the tech issue and then does a subtle WTF comment to his team while live lol.

[garymiller]

These rate at 5percent are a joke to cut.when I was a kid a pass book saving rate was 5percent. You are at inflation rates of at least 20persent so these rates are negative to all savers in the country with the purchase power shows negative rates and they want to cut, what a joke, especially when credit card rates are at 29persent.

[wayfarinstranger]

Thank you Peter, you cut through all the crap❤

[colinbell]

The year over year number should be a better analysis of trend. I agree with Peter that the CPI is basically a manipulatable tool now and the timing of the cut right before the election seems very suspicious.