Welcome to the first live version of the Peter Schiff Radio Show. This is a two hour show. This show is replacing Wall Street Unspun. Peter Schiff ran that Internet show for 6 years as a way to communicate with with his clients. Euro Pacific Capital is a brokerage firm in Connecticut. Peter Schiff is the author of several books. Crash Proof has been updated to Crash Proof 2.0. The cartoon book How an Economy Grows and Why It Crashes is also available.
The Peter Schiff Radio Show begins by discussing that the crash that is discussed in Crash Proof still hasn’t happened yet. It is true that it described in detail the bursting of the housing bubble. But it also discusses the inflation that would be inevitable after the housing bubble burst, and the ultimate economic meltdown that that will bring on.
Inflation is in the news lately. The Federal Reserve has griped and said that there isn’t enough inflation. They are looking for ways that they can get more people employed, and they think that creating inflation is the best way to do that. Not only will these people not have a job, but the Federal Reserve wants them to pay more for their food, housing, and energy costs.
The Peter Schiff radio show continues with a jobs discussion. Jobs don’t come from printing money. For businesses to hire people, there needs to be lower taxes and fewer regulations. We need to cut government spending, not create more inflation. Inflation hurts the economy. It is throwing gasoline onto the fire. Bernanke actually thinks that it is his job to create inflation, rather than to fight it. The Federal Reserve doesn’t want price stability, they want rising prices.
Even though it is cheaper to rent right now, food and energy have been going up. The CPI numbers leave the cost of food and energy out of their calculations. Even though those are the core goods that everyone needs.
Should we extend the tax cuts? People on both sides of the debate justify their position by saying that either the rich or the poor are more likely to spend the money. It would be terrible if the people actually saved the money from their tax cuts. But more savings is exactly what this economy needs in order to heal itself. More Peter Schiff Radio Show clips will come in the future.
