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Living through the financial collapse of 2008 was one of the biggest economical swings this current generation has seen, until now?
It's hard to see what's actually happening when you're in the middle of it, and that's exactly why I bring experts with a wide range of experiences and insights to the show. A lot of you are in the crossroads and feeling the pain of how much higher your grocery bill is for the same amount of food. If you were on track with a decent savings account a couple of years ago (especially if you took advantage of the stimulus money that got us where we are now… we'll talk about that today) you noticed your savings are virtually non-existent now.
Working 2 to 3 jobs was once reserved for the hustler on a mission trying to work towards something major, and now it's the standard for many people just to make ends meet!
My guest today not only accurately predicted the 2008 financial collapse, he's a seasoned Wall Street prognosticator known for his spot on predictions of the stock market performance, including gold, commodities, and the might dollar.
Peter Schiff is breaking down for us the mind-games government uses with data to ease the pain we all know to be a rapidly declining standard of living and exposing how the Fed's inflation strategies are destroying the American economy.
- Expose the fallacy of inflation being needed to stimulate the economy and spending
- Capitalism's role in creating freedom and opportunities
- Why anti-discrimination laws create more prejudice
Is a depression greater than the Great Depression we all ready about in US history on the horizon for the US? If record numbers of credit card debt and student loan debts serve as any kind of indication of what's looming around the corner, you'll want to take notes and really think through this for yourself and your family.
This is Impact Theory and this episode is about thinking through not just how to survive the next economic crisis, but how to get ahead of most and actually thrive.
PETER SCHIFF QUOTES:
'When the government prints their way out of a short term problem they print their way into a an even larger long term problem.'
'The fact that we have an economy that is based in spending, that is the problem. That's part of the bubble, we have a bubble economy. A legitimate economy would not be based on spending, it would be based on savings and production.'
'Money is supposed to have real value. It's not supposed to be conjured into existence out of thin air by a central bank.'
'A lot of people believe that capitalism is evil, but capitalism is the least evil economic system that exist.'
'Capitalism created the American middle class. Without capitalism there wouldn't have been a middle class. There would have just been a bunch of poor people and some rich bureaucrats at the top that were sucking the life blood out of everybody else.'
'You don't get rich by hoarding your money because if your money is hoarded it doesn't grow. The way people get rich is by investing their money, by creating economic growth, by producing more products, by providing more employment.'
'The inherent flaw isn't capitalism, it's democracy.'
Follow Peter Schiff:
Website: https://schiffradio.com/
YouTube: https://www.youtube.com/@peterschiff
Twitter: https://twitter.com/PeterSchiff
Instagram: https://www.instagram.com/peterschiff
WARNING: I will never ask for your contact info in the comments section, that is someone impersonating me!
@scottfreckle237 Says:
well it's October 2026 so his prediction needs to get a move on I'd say...
@Practicalinvestments Says:
Notice how they only want people spending everything, like he said when people stop spending they think its time to raise the price, so basically they notice working class people save money and are like we cant have that and raise the prices so people cant save money any more
@azraelfaust487 Says:
Trump watched this video and said i gotchu
@capt.sparrow34 Says:
The big lie, we're living through a financial uncertainty, things couldn't be more certain.
@BigDickDisco Says:
2 years later - The Economy is Even WORSE with Trump……
@tinhcacogu1802 Says:
Who’s here in 2026? And was awestruck by these predictions?
@nonayobiz8511 Says:
Trump putbthe petal to the medal towards a depression with Tariffs...
@nonayobiz8511 Says:
This did not age well.
@davidnorton7437 Says:
You cannot prepare for the coming depression because the one coming will be different from anything we have experienced before. The people with the most to lose will lose the most.
@polok890 Says:
Creepy utubers is a big problem too
@drblitz3092 Says:
Nothing happened
@joelherzog6571 Says:
he hits the nail on the head with the fact they are distorting the numbers, deception by design. It's the rate and scale of the distortion that alarm everyone. Instead of trying to compare generations, it's now year to year decline in standard of living going off the cliff
@michellepayne447 Says:
He’s speaking the truth ❤
@ZombieAudits Says:
Guy is a nut case
@DeekJohnson Says:
End The Fed….it’s a private bank cabal print money from nothing…
@lupemerrit Says:
Who is responsible for exporting production overseas? Where were these experts when this was being done?
@jaydnhubbard5951 Says:
I have an issue on what he said bout minimum wage without a minimum wage what’s to stop companies from saying “10 an hour is a lot”
@WilliamFoley-t4c Says:
I don't know how a human can live a healthy life while being very very negative for decades😮
@thehypocriticalcynic9182 Says:
White supremacy is anti-parity.
Great Depression:
An, "inflation-monster," ate the generational-wealth of the new middle-class.
German; Irish, Italian, & Jewish people werent white yet, but chose to thrive.
Is WWIII against the middle-class worldwide?
@AGSB-g7q Says:
While I enjoy many of the episodes, the guy is a ridiculous idiot spewing complete garbage. I wouldn’t even go so far as to say he’s misinformed, this is intentional propaganda. First he says, the way we grow wealth is saving, then says you don’t get rich from hoarding… and that the wealthy need to keep their wealth because they are doing so well at “putting it out there” and creating product. Huh ? If that’s the case, why is there such disparity of wealth? If capitalism is so effective, what’s happening? Because the government he’s complaining about and blaming is comprised more than ever now of billionaire capitalists, and look at the laws they’re introducing. Oh, and if the rich will voluntarily help the poor, why aren’t they now? Oh I guess it’s because they’re over taxed and they have to choose between that and buying a new $400M super yacht.
This guy’s delivery of economics seems like he learned it from a children’s coloring book about hard work but written by a kid that just came home from stealing the neighbor’s lemonade stand money.
Again I’ll say, it’s pretty obvious from his shuddering around the lies that he knows he’s lying.
A Jewish guy saying you have a right to discriminate? Dude has lost the plot about what happened to his own people. Total Idiot
@cintroberts6614 Says:
It is already here in some parts of the country.
@SteveHartman-my9rg Says:
Tax rich 90% this is Reagan's gault
@simonsagmor5367 Says:
Spot on about wives' spending 😂
@SteveHartman-my9rg Says:
Tax rich 90%
@SteveHartman-my9rg Says:
Prob is no FDR to rescue us
@SteveHartman-my9rg Says:
Prob is no FDR to rescue us
@whattodoinanemergency1203 Says:
IF UNEMPLOYMENT IS ONLY 4% HOW CAN THEY BE TO BLAM FOR THE STATE OF THE ECONOMY THAT MAKE NO SENCE AND WERE ARE ALL THE JOBS FOR THAT 4% DID THEY GO TO CHINA
@normanbrennan8684 Says:
well its 2025 were is the depression
@jasminebraham5160 Says:
When this man beoke it down, saying "America got China to take America's IOU's/money for stuff China made and produced", basically Monopoly money. Just saw the movie Sinners and America is just using plantation money and sharecropper politics on the world stage. Looking forward to a revolution.
@jeanninesmith1741 Says:
ok, the democrats did the dirty. We are being told we are paying for it now. Let's talk about the oligarchs, the ones who benefit for the out of control spending from the bottom. Now lets see what they are doing to create a chasm so wide between the rich and the rest of us that nobody will be able to bridge it. The only thing the bottom half of the world will have is to go along with the rich and their demands for THEIR benefit or go without and if there is too much noise from that one is they become non existant. It's happening now. That's how much power they have accumulated over the decades of planning. They are now taking control and it's fascism we are faced with today, not democracy, not a republic but a fascist, autocratic country where the dictator tells me my child only needs two dolls and we should be happy with that. It's not the rich who sit in their yachts filled with priceless artifacts, flying around the world in their private jets, the premier schools to educate their children, the top jobs handed to their kids when they finish school, the top medical help, shelters when they need to protect themselves, maids, and how many cars does anyone think these people have? I'm just touching the tip. Now let's talk about the republican administration that has introduced our government. It's chuck full of billionaires. Who do we think they are working for? The democrats that are accused of giving the working class an abundance money to by dolls for their kids? Really?
@yi4913 Says:
Tax the rich
@GRUBB-MUDD Says:
Damn this video aged well
@brianchan5402 Says:
What about Halliburton no bid contracts and things of that nature? Government and big business are intertwined at the top.
@SmileMoreItsVital Says:
Ok i have to fast fwd dude is seriously out of touch
@SmileMoreItsVital Says:
1:28:53 correction immigrants have access to funding, and an exponential amount of resources to build businesses, they get FREE education as well as housing subsidies. Please get to know some older black people and hear their stories, your white skin gives you privilege. It is NOT the same. Get to know some black immigrants that will tell you the truth.
@SmileMoreItsVital Says:
If an individual doesn't have access to the same funding, the same jobs, the same education it is 100x more difficult to even build something. Black vets couldn't even secure loans with their earned GI Bill benefits to buy homes while white people had no problems We weren't able to own anything for a long time so when we had the rights we had to utilize the resources out there, Women couldn't even have bank accounts without a husband until 1974.
@krazyfarmhomestead2239 Says:
I bet IF you asked this man if he voted Republican OR Democrat that would tell the whole story to his thoughts.
@AnnaCraig-u4v Says:
I agree with freedom of speech.
@AnnaCraig-u4v Says:
The great depression. Then hyperinflation.
@AnnaCraig-u4v Says:
I think Hyperinflation will happen this time.
@3n1sunmoon62 Says:
There Is No Way Out,
Until There Is A _ _!
@ZiZla999 Says:
Prescient.
@Mr.HorseheadSays Says:
Thank you I needed this video!
@amberweik5384 Says:
Biden had a great economy. I watched it daily. Your full of it. Another Trump puppet. We aren't falling for your crap anymore.
@koniggeneve Says:
Hello Mr bilyeu, first time I anderstand well what Mr schiff is explaining. Thank you.
@curtishaptonstall7810 Says:
He advocates for less regulation and uses China as an example. China is a totalitarian state that uses slave labor. That is the result of no regulation. I agree with most of what he says but China shouldn't be an example.
@hrbinwalee Says:
Who's this asshole on the show?????
@troydad7able Says:
This dude should stick to economics. When he switched to talking about discrimination and Civil Rights he sounded like a blubbering idiot from 1920. A business has a right to do anything they want? People in the south didn’t want to discriminate, the government made them? Wow!
@joerinaldi5 Says:
So if a person for whatever reason couldn’t work the capitalism says bad luck I don’t have moral sense to help them, but socialism does. I agree that we have become the now society that spend more than what we earn and that there are too many loan companies willing to lend money even after someone has gone into bankruptcy several times. In the old days you had to show you had some collateral against the money you wanted to loan. Now all you have to show is your earnings from a job, and tomorrow if you loose that job your in a real mess, and that is how you are trapped in a capitalist system. You have to work for whatever wage you are given and do whatever job you are given.
Professor Wolf explains socialism the best.
Finally yes there are many good people in the world, but to leave human decency in the hands of all capitalists sorry I think it’s a mistake. Wasn’t it a motto in wall street greed is good.
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