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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.”
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