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Peter Schiff Obliterates Donald Trump's Economy On Fox Business

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posted on Aug, 17 2018 @ 07:02 PM
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When even Peter Schiff has to call out Trump and the Administration over their handling of the economy, you know there's got to be trouble abound:



Ol' Schiff isn't at all amused with the President's performance on the economy and he sees a gloomy future for the economy:


Schiff warns the U.S. economy is headed toward a “massive recession” and the GDP rate will not exceed 3% in 2018.

“Trump bought the economy some time with the tax cuts, but all it’s doing is pushing off the day of reckoning,” he said on “Countdown to the Closing Bell.”

The job market created 213,000 jobs and the unemployment rate rose to 4% in June, according to the latest jobs report. Retail sales have risen 5.9% over the past 12 months, according to the government’s latest data.

“The reality is more people are working, more people are supporting themselves and therefore more people have more money to spend,” ADDO Worldwide co-founder Kevin Paul Scott said.

Fox Business

Yes we're talking about the same Peter Schiff. Tea Party Peter Schiff. That guy. His comments and criticisms are by no means unique to the Libertarian community. Ron Paul came out criticizing Trump for the tariffs placed calling it another big tax on the American people. There seems to be growing pushback within the right. I don't agree with Schiff on many things and in this video Schiff claimed Trump's tax cuts 'bought the economy sometime' which I believe is a bunch of baloney. But his some of his views I agree with. I do believe there's another big recession upon the horizon and I believe many, including those prominent in the rightwing, can see it for what it is.

This part of the video is the kicker:

"Donald Trump helped make government bigger and more expensive by increasing welfare spending, increasing military spending, he reduced the revenues necessary to pay for that.. that is bad for the economy"


Is ol' Schiff and others jumping the Trump ship because he knows there's an iceberg on the horizon? What say you ATS?
edit on Fri Aug 17 2018 by DontTreadOnMe because: trimmed overly long quote IMPORTANT: Using Content From Other Websites on ATS




posted on Aug, 17 2018 @ 07:07 PM
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a reply to: Southern Guardian

Hmm... Yet Another " Schiff " to the Left Dodo ?



posted on Aug, 17 2018 @ 07:15 PM
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I say you’re full of #. Schiff always cries wolf, after all he owns a precious metal business that depends on an “apocalypse “ scenario.



posted on Aug, 17 2018 @ 07:16 PM
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Schiff really understands the economy and I'm not at all surprised by this considering his families history of banking with Morgan's and Rothschild's.

he's looking at the real data not the narrative so people won't agree with you here and the data has been bad for a long time, his podcast is 1 of the market related podcast I listen to weekly and he has been saying the same thing for a long time and he ALWAYS uses the data unlike everyone else
edit on 17-8-2018 by toysforadults because: (no reason given)



posted on Aug, 17 2018 @ 07:17 PM
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That's why I like Fox, they have both lovers and haters of Trump 😎



posted on Aug, 17 2018 @ 07:18 PM
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originally posted by: avgguy
I say you’re full of #. Schiff always cries wolf, after all he owns a precious metal business that depends on an “apocalypse “ scenario.


means nothing, listen to him and use data to refute his position



posted on Aug, 17 2018 @ 07:20 PM
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a reply to: Southern Guardian

The same Peter Schiff who has been screaming that the sky is falling for the last 10 years that the economy was going to collapse?

I used to listen to him, but he's become a broken record.

Edit: He used to be on Alex Jones all the time too...
edit on 17-8-2018 by watchitburn because: (no reason given)



posted on Aug, 17 2018 @ 07:23 PM
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a reply to: watchitburn

yeah because all the same problems he's been talking about still exist they are just being proped up with fake money

just because he points out the problem doesn't mean he's wrong, of course you are not dissecting what he's saying and providing counter points with data

nobody here is going to do that especially if it challenges their narrative they are suppose to say, right or left

I would be surprised if anyone on the left agrees with him either as his solutions are antithetical to their's



posted on Aug, 17 2018 @ 07:24 PM
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a reply to: toysforadults

And the economy continues to not collapse, no matter how hard we try.
edit on 17-8-2018 by watchitburn because: (no reason given)



posted on Aug, 17 2018 @ 07:25 PM
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His real name should be "Peter IF"

IF

Peter David Schiff (/ʃɪf/; born March 23, 1963) is an American stock broker, financial commentator, and radio personality. He is CEO and chief global strategist[2] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut. He is the founder of Euro Pacific Canada Inc., now known as Echelon Wealth Partners Inc., headquartered in Toronto, with offices in Burlington, Ontario; Montreal; Vancouver; and Tokyo. He is also the founder and chairman of Euro Pacific Bank, offshore bank founded in St. Vincent and the Grenadines, relocated to San Juan, Puerto Rico in 2017; founder, CEO, and chairman of Euro Pacific Asset Management, LLC., an asset management company founded in Newport Beach, currently relocated to Dorado, Puerto Rico, since 2013; and founder and chairman of SchiffGold, a precious metals dealer based in Manhattan.[3][4]


😲



posted on Aug, 17 2018 @ 07:26 PM
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a reply to: Southern Guardian

He needs to articulate how Joe Averages paycheck will be effected, and by exactly how much it will be effected, and when that will take place - all in the space of about 30 seconds. Words like 'tax', 'wages', 'jobs', 'justice' mean very little when the vast majority of folks are only watching for less than 1 minute before becoming bored and flicking to something else - unless there's a hook.

Trump is a hook, for both his detractors and supporters therefore in order to keep the fish interested, the bait needs to become more enticing.

As we all know, one persons opinion does not mean it should automatically become gospel, even when some good points are raised but poor solutions offered.

We all know the problems, very few can make workable solutions....work. The global economy has been unstable since at least 2008 and the cries of economic apocalypse have been ringing loud and clear for years - well before Trump, in fact it was likely the 2003 Iraq war that broke the bank.



posted on Aug, 17 2018 @ 07:28 PM
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When business knows they can get away with anything they get even more corrupt than normal and destroy the economy like in 2007 and 1929.



posted on Aug, 17 2018 @ 07:29 PM
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a reply to: watchitburn

interesting didn't see you pick a single data point and counter it with evidence

I won't hold my breath



posted on Aug, 17 2018 @ 07:30 PM
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a reply to: toysforadults

The " Middle Class " is Earning the Benjamins Right Now that they have Been DENIED during the Obamanation Years , so Why would Any of US Give a Rats Ahass About this Bogus Story ? Bullsheit Walks Fella.............

edit on 17-8-2018 by Zanti Misfit because: (no reason given)



posted on Aug, 17 2018 @ 07:31 PM
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Omg, the only way to beat trump is by giving obama credit for the economy or predicting economical doom. Because everyone is working now.

If believing the economy is going to tank is what it takes to fulfill your hate for trump and helps you sleep at night....sleep well bro, sleep well



posted on Aug, 17 2018 @ 07:32 PM
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a reply to: Zanti Misfit

yeah didn't see you actually quote something he said then counter it with data



posted on Aug, 17 2018 @ 07:33 PM
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a reply to: Southern Guardian

It's obvious that whoever this man is he is under the influence.



posted on Aug, 17 2018 @ 07:35 PM
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would you guys like me to pick the 5 most parrot'd lines from both the right and left so that you guys can have the same debate again without anyone actually ever providing any evidence to support their narrative they were told to repeat?



posted on Aug, 17 2018 @ 07:35 PM
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a reply to: Southern Guardian


However, Schiff says the economy is not as robust as the numbers indicate due to the lack of wage growth in the labor force.

“Real wages are falling and they are going to fall even faster because inflation is going to get higher when we get into the next recession,” he said.


That's nothing new. Wage growth has been stagnant for decades and has never kept up with inflation. Statistics show that wage growth (after being adjusted for inflation) has only gone up 10% since 1974.



posted on Aug, 17 2018 @ 07:37 PM
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a reply to: Deetermined

that's probably why everyone is doing everything on credit (Peter talks about this all the time)

www.thebalance.com...

consumer debt is at 13.3 trillion, another one of those pesky data points he's correct about




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