The Peter Schiff Show Podcast
About This Show
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show. He follows up his daily two-hour show with a weekly, two-hour podcast focusing on weekly economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter’s commitment to getting the real story out every week. qqawrh5c.
Most Recent Episode
Lessons From Vegas Don’t Stay in Vegas – Ep. 269
1 day ago
My recent trip to Las Vegas for The Freedom Fest provided some interesting lessons. My observations that we are paying more for less were illustrated by the theft of my luggage, as there are no more luggage security checkers in baggage claim exits. Also, for the first time, major Las Vegas hotels are charging from $15 - $18 for parking. This is causing hotel valet workers to lose money, as customers are less likely to leave a generous tip (or any tip) if they are already paying quite a bit to park. So the Las Vegas experience is changing; we're getting less for more money. Prices are going up and wages are going down.
Taking Credit for Phony Statistics
This is the real U.S. economy. Forget about all these phony U.S. statistics. The real world reflects the truth about the economy and why Donald Trump is President. I wish candidate Trump would come back; I would rather see the President questioning phony government statistics instead of embracing them. I'd like to see the President talking about the stock market being a bubble rather than a bull market and claiming credit for the increase.
Weakness in U.S. Dollar
The big story is the continued weakness in the U.S. dollar, in fact this morning the dollar index hit a new low for the year. It's now back in positive territory as I am recording this podcast, but the low this morning was 93.64 on the dollar index. Remember, the dollar index rose about 6% between the election of Donald Trump and the Inauguration, and the reason for the rally was the optimism for economic growth as a result of tax cuts, de-regulation, fiscal stimulus and a tighter Fed.
Senate Backing Away From Repeal
At the time, I argued that that was nonsense, and so far I am being vindicated. We're six months into the Trump Presidency and nothing has happened. They haven't even been able to repeal Obamacare, nor are they going to. The Senate already backed away from the version that I said would not work. Trump did a press conference yesterday talking about Obamacare, assuring everybody that pre-existing ban is going to stay. The very essence of Obamacare is that insurance companies can't charge sick people more for insurance than they charge healthy people. That's the essence of Obamacare that doesn't work and that's what Donal