The Peter Schiff Show Podcast

By Peter Schiff

Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on economic data analysis and unbiased

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FAQs about The Peter Schiff Show Podcast:

How many episodes does The Peter Schiff Show Podcast have?

The podcast currently has 1,827 episodes available.

The Peter Schiff Show Podcast episodes:

May 02, 2015 Will the Fed Run Out of Excuses as the Weather Warms?
Government's first look at Q1 GDP
There was a lot of optimism around Q1 with expectations above 3%
Actual GDP was 1/5 of expectations at.2%
The rest of the story of Q1 GDP:
The deflator this time was negative - meaning that prices dropped by .1%
The last time the deflator was negative was 2009 Q2; still in the Great Recession
The previous occurrence of a negative deflator was in 1949
I believe the true rate of inflation is higher than -.1%
Inventory build continued into Q1 - businesses continue to believe the myth of the recovery
Inventory to sales ratio are the highest they have been since the Great Recession
They are still blaming poor economic performance on the weather. It is always cold in the winter; why is bad weather always a surprise?
The Fed just released their official statement on interest rate policy
They removed language from statement indicating it is unlikely that rates will rise
Continuing give the illusion that they are progressing toward a point when they will raise interest rates
The Fed went out of its way to dismiss all the bad economic news we got in Q1
The dollar just had its biggest 2-day decline in 6 years
The Fed came out and put a smiley face on the whole thing and the dollar recovered somewhat
The Fed is never going to confess that they are worried; that's not their job
What evidence is there that things will improve in Q2?
Cheap gas windfall is over; oil prices have risen every week in the past month
Early April economic data is negative
An economy based on spending is a bubble; production grows an economy
Consumers have lots of debt, but they don't have good jobs
Decline in the dollar signals that the markets are already sensing this
The Fed feels that economic growth will recover in Q2 & Q3
They also said they need to see additional strength in the labor market
Business are making foolish decisions because they believe the Fed
As the economy disappoints, the labor market will continue to deteriorate
The Fed can't raise interest rates and they are headed ror QE4
We need more and more stimulus because we've built up a resistance
The real crisis will be a dollar crisis
When the economy heads south and the Fed has to do QE 4, the Fed will lose a lot of credibility
Janet Yellen will not be able to deliver on her promise to shrink the balance sheet by the end of the decade
...more
24min
May 02, 2015 Spring Has Sprung, But U.S. Economy Still Snowed In – Ep 79
Markets on roller coaster ride final two trading days of this week
Bad news parade marches on in April
The players are still clinging to fantasy of U.S. economic recovery
Dollar finished down substantially on the week - April was the first down month in 10 months
Dollar has seen its highs and is heading lower
Gold back below 1200
Oil prices added to gains closed above $59 - moving opposite to the dollar
Friday - March Personal Income & Spending flat below expectations
Personal Spending also lower than expected; .4% gain
Savings dropped from 5.7 to 5.3 - the lowest savings rate of the year
April PMI Manufacturing Index - dropped more than expected to 54.1 even as weather warms
ISM Manufacturing expected to rise to 52 - remained flat
Employment Index dropped two points - the first drop in 2 years
March Construction Spending fell by .6 missing expectations
Atlanta Fed correctly forecasted Q1 GDP at .2, forecasting Q2 at .8
Article on Zero Hedge: Goldman Sachs warning Europe about severe "Lowflation"
Article in Bloomberg: Chinese can't "kick" savings habit
Blames problem on "not enough government"
The reason America is in so much trouble is that we don't save
Once the Chinese have built up a cushion, then they will spend
When our phony economy bursts, it will be apparent that we did not save enough and had too much debt
America gives capitalism a bad name - we preach it but do not practice it
We rely on a giant government-run ponzi scheme of socialized savings
We are telling the Chinese they have too much free market capitalism
We have been indulging our present and sacrificing our future
The Chinese will be rewarded for their prudence
The most ironic thing about the Bloomberg article is that they suggest Chinese would be better off under Communism
...more
30min
April 28, 2015 Minimum Wage, Maximum Stupidity – Ep 78

* The Keynesian myth of mandating prosperity actually hurts the lower middle class and the working poor
* Something for nothing is appealing to voters, so politicians make empty promises that are good politics but bad economics
* A Seattle-based company called Gravity Payments has instituted a minimum salary of $70,000/yr
* This has given him great publicity, but how will this work in his company?
* Lower paying jobs will have to be eliminated, because they don't represent enough productivity to justify a raise that doubles the employee's cost
* Higher salaried workers are not hurt because they keep their job and perhaps get a raise for picking up the extra duties formerly handled by lower-salaried workers
* The most recent political gimmick in the State of Connecticut is a tax masquerading as a minimum wage law
* The Democratic State Legislature have proposed a law that will fine companies of 500 or more employees $1/hr for any worker who is paid under $15/hr
* How will this work in the State of Connecticut?
* Right away, business just over 500 employees will pare down to fall under the new regulation, so jobs will be lost
* In reality, this is just a tax increase on the people who can least afford it
* For employees who are currently working at the minimum wage, a $1 fine is cheaper than a raise from the current $9.15 rate to $15/hr, if they do not eliminate that person's job
* This is essentially another employment tax that will result in higher prices across the board
* Neither the employee nor the employer benefits
* For employees who are working above the current minimum of $9.15/hr a raise would cost the employer more than the $1 fine
* According to minimum wage law, it is illegal to cut the worker's pay - the only option is to cut the worker
* The penalty does not apply to higher paid workers; it only applies to jobs between the current minimum wage and the new minimum wage
* It will be cheaper to pay the tax than to raise wages, but there will be less money to to toward employees because a large percentage of the workers' wages are going toward a tax
* The reality of this new law, championed for the "little guy" is that the working poor will pay a higher marginal state income tax than the richest hedge fund managers in the state
* Will the voters be able to figure it out elected officials are going after the working poor?
* This tax will also raise the cost of living, wich also affects the poor more directly
* Packaging a tax to pass off as minimm wage is fraud
*

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...more
25min
April 28, 2015 Minimum Wage, Maximum Stupidity – Ep 78
The Keynesian myth of mandating prosperity actually hurts the lower middle class and the working poor
Something for nothing is appealing to voters, so politicians make empty promises that are good politics but bad economics
A Seattle-based company called Gravity Payments has instituted a minimum salary of $70,000/yr
This has given him great publicity, but how will this work in his company?
Lower paying jobs will have to be eliminated, because they don't represent enough productivity to justify a raise that doubles the employee's cost
Higher salaried workers are not hurt because they keep their job and perhaps get a raise for picking up the extra duties formerly handled by lower-salaried workers
The most recent political gimmick in the State of Connecticut is a tax masquerading as a minimum wage law
The Democratic State Legislature have proposed a law that will fine companies of 500 or more employees $1/hr for any worker who is paid under $15/hr
How will this work in the State of Connecticut?
Right away, business just over 500 employees will pare down to fall under the new regulation, so jobs will be lost
In reality, this is just a tax increase on the people who can least afford it
For employees who are currently working at the minimum wage, a $1 fine is cheaper than a raise from the current $9.15 rate to $15/hr, if they do not eliminate that person's job
This is essentially another employment tax that will result in higher prices across the board
Neither the employee nor the employer benefits
For employees who are working above the current minimum of $9.15/hr a raise would cost the employer more than the $1 fine
According to minimum wage law, it is illegal to cut the worker's pay - the only option is to cut the worker
The penalty does not apply to higher paid workers; it only applies to jobs between the current minimum wage and the new minimum wage
It will be cheaper to pay the tax than to raise wages, but there will be less money to to toward employees because a large percentage of the workers' wages are going toward a tax
The reality of this new law, championed for the "little guy" is that the working poor will pay a higher marginal state income tax than the richest hedge fund managers in the state
Will the voters be able to figure it out elected officials are going after the working poor?
This tax will also raise the cost of living, wich also affects the poor more directly
Packaging a tax to pass off as minimm wage is fraud
...more
25min
April 27, 2015 Do the Swiss Envy Canadians Paying Higher Prices? – Ep 77

* S&P and the NASDAQ made new record highs
* Stock market continues to ignore all the bad news about the economy
* Bad news is not being ignored in the foreign exchange markets
* Negative economic news is buoying the stock market because it removes fear of interest rate hikes
* Weak economy means more cheap money which means higher stock prices
* Oil prices hitting highest prices of the year
* Gold is back above the 1200 level
* April PMI Manufacturing Flash Index at 54.2 biggest miss ever
* New Home Sales tumbled by 11.1% - biggest drop since July of 2013
* March Durable Goods slight bump based on military aircraft, but less transportation, the index unexpectedly declined .2%
* Durable good orders, less defense and transportation dropped for the 7th consecutive month
* April Service Sector PMI missed lowest expectations at 57.8 - the biggest miss ever
* Dallas Fed Manufacturing Survey - recorded significant drop at -16; biggest losing streak ever
* There will be a delayed reaction from the market to first quarter's bad economic news on top of this quarter's economic news
* A Boston Fed official is considering retaining "balance sheet tools", i.e. QE
* In other words, the Fed is considering not having an exit strategy - because it can't exit
* We have done all sorts of crazy things that we never would have done but for zero percent interest rates and QE
* A market that was built for 0% interest rates can't handle 2% interest rates
* The product of all this stimulus will be big increases in prices, and the Central Banks are setting the stage for higher inflation
* Declining Swiss consumer prices are described as "dangerous"
* Currently, the Swiss consumers are enjoying lower prices and do not need a government "cure"
* The law of supply and demand is so simple that only an economist would fail to understand it
* Keynesians will spin ever-conflicting news to support their theory
* Fitch has downgraded Japanese government debt to A- because or the Japan's deteriorating fiscal condition
* Based on that logic, why is the U.S. AAA?
* There is a general fear of downgrading U.S. debt, based on fines levied against the S&P
* The real problem will be the collapse of the dollar, which means the debt will be repaid in dollars without purchasing power

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...more
21min
April 27, 2015 Do the Swiss Envy Canadians Paying Higher Prices? – Ep 77
S&P and the NASDAQ made new record highs
Stock market continues to ignore all the bad news about the economy
Bad news is not being ignored in the foreign exchange markets
Negative economic news is buoying the stock market because it removes fear of interest rate hikes
Weak economy means more cheap money which means higher stock prices
Oil prices hitting highest prices of the year
Gold is back above the 1200 level
April PMI Manufacturing Flash Index at 54.2 biggest miss ever
New Home Sales tumbled by 11.1% - biggest drop since July of 2013
March Durable Goods slight bump based on military aircraft, but less transportation, the index unexpectedly declined .2%
Durable good orders, less defense and transportation dropped for the 7th consecutive month
April Service Sector PMI missed lowest expectations at 57.8 - the biggest miss ever
Dallas Fed Manufacturing Survey - recorded significant drop at -16; biggest losing streak ever
There will be a delayed reaction from the market to first quarter's bad economic news on top of this quarter's economic news
A Boston Fed official is considering retaining "balance sheet tools", i.e. QE
In other words, the Fed is considering not having an exit strategy - because it can't exit
We have done all sorts of crazy things that we never would have done but for zero percent interest rates and QE
A market that was built for 0% interest rates can't handle 2% interest rates
The product of all this stimulus will be big increases in prices, and the Central Banks are setting the stage for higher inflation
Declining Swiss consumer prices are described as "dangerous"
Currently, the Swiss consumers are enjoying lower prices and do not need a government "cure"
The law of supply and demand is so simple that only an economist would fail to understand it
Keynesians will spin ever-conflicting news to support their theory
Fitch has downgraded Japanese government debt to A- because or the Japan's deteriorating fiscal condition
Based on that logic, why is the U.S. AAA?
There is a general fear of downgrading U.S. debt, based on fines levied against the S&P
The real problem will be the collapse of the dollar, which means the debt will be repaid in dollars without purchasing power
...more
21min
April 22, 2015 Inflation Is The One Promise Central Banks Can Deliver – Ep 76

* Markets have been volatile but economic data still looking bad
* Chicago Fed National Activity Index: contrary to expectations, came in at -.42 in addition a downward correction for last week to a 2-year low
* Weekly Redbook Same Store Sales Survey down to lowest annual increase in 4 years with a dramatic rate of decline in recent months
* Implausible excuses, such as the weather or the timing of Easter, attempt to mask the fact that the economy is just weak
* Oil prices moved above $57, forming a sizable W-bottom
* Canadian dollar up about 5%
* Canadian inflation, especially food prices up
* This signals the end of rate-cutting cycle in Canada
* Central banks around the world are going to have to dial back on their cheap money policies
* The "Threat of Deflation" will be in the rear view mirror
* Central banks may like high prices, but consumers don't
* President of the Federal Reserve Bank of Boston Eric Rosengren stated our 2% inflation goal is "too low"
* He thinks higher inflation allows for more growth, and allows interest rates to remain low
* Cheap money does not create economic growth and doesn't create employment - it undermines both
* Cheap money applied to a slower economy creates a vicious cycle
* A weakening dollar will put upward pressure on already rising consumer prices
* The Fed is hinting at a higher inflation goal
* The problem is we can't do anything about our inflation because our debt is out of control
* Fiscally solvent countries are able to raise rates and still service their debt
* All the U.S. can do is "talk tough"
* If they had a "Hall of Economists" in Disneyland, the Keynesians would have to be in Fantasyland
* Paul Krugman's Keynesian experiment is blowing up the U.S. economy
* Everybody will figure it out before Paul Krugman does

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...more
21min
April 22, 2015 Inflation Is The One Promise Central Banks Can Deliver – Ep 76
Markets have been volatile but economic data still looking bad
Chicago Fed National Activity Index: contrary to expectations, came in at -.42 in addition a downward correction for last week to a 2-year low
Weekly Redbook Same Store Sales Survey down to lowest annual increase in 4 years with a dramatic rate of decline in recent months
Implausible excuses, such as the weather or the timing of Easter, attempt to mask the fact that the economy is just weak
Oil prices moved above $57, forming a sizable W-bottom
Canadian dollar up about 5%
Canadian inflation, especially food prices up
This signals the end of rate-cutting cycle in Canada
Central banks around the world are going to have to dial back on their cheap money policies
The "Threat of Deflation" will be in the rear view mirror
Central banks may like high prices, but consumers don't
President of the Federal Reserve Bank of Boston Eric Rosengren stated our 2% inflation goal is "too low"
He thinks higher inflation allows for more growth, and allows interest rates to remain low
Cheap money does not create economic growth and doesn't create employment - it undermines both
Cheap money applied to a slower economy creates a vicious cycle
A weakening dollar will put upward pressure on already rising consumer prices
The Fed is hinting at a higher inflation goal
The problem is we can't do anything about our inflation because our debt is out of control
Fiscally solvent countries are able to raise rates and still service their debt
All the U.S. can do is "talk tough"
If they had a "Hall of Economists" in Disneyland, the Keynesians would have to be in Fantasyland
Paul Krugman's Keynesian experiment is blowing up the U.S. economy
Everybody will figure it out before Paul Krugman does
...more
21min
April 19, 2015 Disney World, Paul Krugman, and Market/Economic News – Ep. 75

* Disney's theme parks are a monument to capitalism as it existed when Walt Disney envisioned Disneyland
* The Hall of Presidents, however manages to honor presidents who supported big government over the free market
* The choice of presidents demonstrates revisionist history that supports the liberal, big-government narrative
* Whenever you expand government you contract liberty
* The Dow ended the week down 279 points; NASDAQ down 75
* The search is on for excuses but the real issue is not global causes but U.S. economic performance
* Housing Starts and Permits were way below estimates
* Jobless claims were higher than expected
* Leading Economic Indicators weaker than expected this month after last month's downward revision
* Core CPI came in twice expectations, but described as "better than expected"
* The dollar had a very weak week; Canadian dollar had strongest week in years, with a possible rally going forward
* Weakness in Stock Market, continuing weak economic data makes June rate hike less and less likely in the minds of traders
* The most prominent poster boy for the myth of the U.S. economic recovery, Paul Krugman, recently published an article claiming victory for U.S. Keynesian economic policy
* Krugman claims U.S. is performing better than Europe due to Keynesian policies
* Perception is not reality: the U.S. is not doing as well as Krugman would have us believe
* Krugman references an article by Germany Finance Minister Wolfgang Shauble, criticizing him for rejecting macroeconomics
* Macroeconomics IS B.S. and should be rejected
* Krugman infers that Europe's woes are the result of rejecting Keynesianism
* Shauble warns against going for the "quick fix" of Keynesian policies
* Germany understands that austerity, rather than debt, is the answer
* Krugman believes we should continue to create bubbles through stimulus and debt
* It will be interesting to see what Krugman says when the U.S. economy slips back to recession as Europe grows
* Europe's approach was not perfect, but it is better than the politically expedient solution championed by Krugman

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...more
29min
April 19, 2015 Disney World, Paul Krugman, and Market/Economic News – Ep. 75
Disney's theme parks are a monument to capitalism as it existed when Walt Disney envisioned Disneyland
The Hall of Presidents, however manages to honor presidents who supported big government over the free market
The choice of presidents demonstrates revisionist history that supports the liberal, big-government narrative
Whenever you expand government you contract liberty
The Dow ended the week down 279 points; NASDAQ down 75
The search is on for excuses but the real issue is not global causes but U.S. economic performance
Housing Starts and Permits were way below estimates
Jobless claims were higher than expected
Leading Economic Indicators weaker than expected this month after last month's downward revision
Core CPI came in twice expectations, but described as "better than expected"
The dollar had a very weak week; Canadian dollar had strongest week in years, with a possible rally going forward
Weakness in Stock Market, continuing weak economic data makes June rate hike less and less likely in the minds of traders
The most prominent poster boy for the myth of the U.S. economic recovery, Paul Krugman, recently published an article claiming victory for U.S. Keynesian economic policy
Krugman claims U.S. is performing better than Europe due to Keynesian policies
Perception is not reality: the U.S. is not doing as well as Krugman would have us believe
Krugman references an article by Germany Finance Minister Wolfgang Shauble, criticizing him for rejecting macroeconomics
Macroeconomics IS B.S. and should be rejected
Krugman infers that Europe's woes are the result of rejecting Keynesianism
Shauble warns against going for the "quick fix" of Keynesian policies
Germany understands that austerity, rather than debt, is the answer
Krugman believes we should continue to create bubbles through stimulus and debt
It will be interesting to see what Krugman says when the U.S. economy slips back to recession as Europe grows
Europe's approach was not perfect, but it is better than the politically expedient solution championed by Krugman
...more
29min

FAQs about The Peter Schiff Show Podcast:

How many episodes does The Peter Schiff Show Podcast have?

The podcast currently has 1,827 episodes available.

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