Joe needs to do a quarterly roundtable discussion with 4 to 5 of his guests who are knowledgeable about economics, finance, and politics. People would learn a lot.
I have people in the company we’re I work that refused to come back to work because they are making an extra 600 dollars a month ( but they said , oh I’m not ready yet) , we just offer some of the part timers a ft position and they said no because they are playing the system and now they are going to make an extra 200 , some refused to return from furlough just because of the extra money , most of the ones that are working and are ft call out two days a week to collect the extra 600 hoping the department of labor won’t catch up on it because it’s not that the company is cutting their hours but they report they are working less , 🤦🏽♂️ some ppl just don’t want to do better in life just because they got a few extra 100 dollars to not work.
She is self employed files a 1099.. she has her own LLC set up current etc . She is the sole person working. She is a Salon owner we pay 800$ a month for the room rent . Then she needs to buy own products etc . We tried 3 different times most we tried to get was 18000$ then we dropped it to 9000$ and still got denied . We inserted all the correct information into the correct document but Chase denied us and another smaller as well We file jointly so we definitely pay our share of taxes she claimed 65 k last year . Legit . So we definitely should have qualified. Didn’t get PPP They did offer a SBA-loan @3.75% for 30 years
In 1940 everything wasnt made in china. I agree keep Government out of capitalism but you gotta keep capitalism out of government. No giving money to government officials to make laws in a company's favor.
Not only China’s impact, he mentioned inflation without even highlighting how wages have barley increased. Stupid dinosaurs should not compare life in 1940 to 2020....
can't keep government out of the economy. capitalism has a tendency of creating monopolies, which the state is supposed to fight against. government can be a producer of monopoly, although those are mainly state owned companies. There is a underlying question whether or not government companies should have monopolies. They have huge funds for huge projects such as building infrastructure or things the economy wouldn't finance due to not being in demand such as semiconductors. Now semiconductors run a trillion dollar IT industry, but back when R&D was still researching the money had to come from somewhere were a loss was also a possibility.
In the 1940s the amount of consumer goods available was probably a fraction of what it is today. You can't compare 80 years ago to today. That's like saying almost everything was American made in 1900. Well they also barely had electricity so that point is kind of irrelevant.
I'm a libertarian and debt isn't a problem. You know what is a problem? Wars. Wars is the equivalent of mass murders for corporate greed. Imagine if you kill someone for their money, you would be imprison or receive the death penalty. But when the Elites use Government to commit war on nations who can't defend themselves and take their resources and place their people in slave-like working conditions to produce goods for us at cheap price. That my friend, I have a problem with. As a libertarian, we value "liberty" and part of that principle is to respect other's liberty and therefore using force to achieve economic prosperity is immoral and despicable.
@@walden6272 i assure you there's no libertarian on the planet that thinks war is a bigger issue than debt and spending. Most libertarians are anti intervention sure, but personal liberties and government overreach are #1 on the list
Yes and no. If I give 100 million in donations to a bunch of politicians and they get me a tax break that saves me 30 million a year.... It just makes sense for me to do that. Maybe weaken a few regulations that saves me money. Get contracts and loans for my business fast tracked and approved. So many ways to make more money. Basically what I'm saying is all boils down to corruption of the government. Not the size.
@@walden6272 No creating money out of thin air and using it to make more fake money is still a problem. Spending 600 billion a year on the military is also a problem though.
This virus has just made me realise how badly a lot of countries are run and how dependable we are on others rather than creating our own products and food
@@TS-ql2gl the only countries that are not good for agroculture is the middle east. You see in the couple 30years ago UAE was buidling crazy skyscrapers and people are driving crazy cars instead of spending money on agroculture. When Covid hit the goverment asked double tax because they had food shortage because they are importing like 70-80% of food. They spend 70-90 bilions of dollars building artificial islands and only one of them is profitable the other are not bought nor rented.
@@NEKORID Peter had tweeted that he apologized for interrupting Joe, explaining there were technical difficulties using Skype, as it had some delay and also prevented him to hear Joe when Joe was talking. If you look at their previous sessions together, there were minimal, tolerable interruptions by both Peter and Joe, and you could learn a lot from those earlier podcasts.
PETER SCHIFF: 2010: "THE MARKET IS GOING TO CRASH!!" 2011: "THE MARKET IS GOING TO CRASH!!" 2012: "THE MARKET IS GOING TO CRASH!!" 2013: "THE MARKET IS GOING TO CRASH!!" 2014: "THE MARKET IS GOING TO CRASH!!" 2015: "THE MARKET IS GOING TO CRASH!!" 2016: "THE MARKET IS GOING TO CRASH!!" 2017: "THE MARKET IS GOING TO CRASH!!" 2018: "THE MARKET IS GOING TO CRASH!!" 2019: "THE MARKET IS GOING TO CRASH!!" 2020: "I TOLD YOU THE MARKET WAS GOING TO CRASH..."
2006 Peter schiff market is gonna crash. 2008 it did and got bailed out. 2020 it did and getting bailed out now u just don't know it because u think there is a scary virus out there
I think we all know it's going to happen at some point. The federal reserve artificially propping up the economy and devaluing the dollar with this huge national debt hanging over our head can't last forever.
Honestly, as harsh as Peter sounds, post-lockdowns he’s hit the nail on the head. He is spot on with inflation, rising prices, and social unrest. He was completely right.
I 100% agree with most of your point from the exact opposite direction: thank god they do have a "bailout", so that the states can shut things down and start getting this epidemic back under control. The problem before is that we DIDNT react fast enough. The "lawlessness" you've mentioned (I presume your take on the recent public protests and the relatively few lootings we've had during them), is literally an entirely different matter that happens to be coinciding. Unless the "lawlessness" you mean is passing health ordinances forcing the public to wear masks to prevent contamination, which is a ridiculous take, so I hope not.
The states cant afford this crisis. They dont have the revenue. We cant let millions just become homeless with no jobs. If the economy calapses, it wont matter if the dollar doesnt lose value. Only the rich would benefit
I hope at least we can agree that we both have the right to state our opinions openly. I support your freedom in that - even though we completely disagree. Regarding the "bail out" calling it a "bail out" does not mean there is magical money. Governments do no have money. The lawlessness I refer to is both the shut down of our freedom AND the violence from anarchists who are ruining peaceful protests.
@@JWCustomsINCPasadena Certainly. As they say, opinions are like assholes... The only danger comes in confusing our opinion with the good scientific data provided by researchers who do this professionally. If you're not a data scientists, economist, virologist (and I'm none of these) then our opinions are our opinions, and not our facts. We need to agree with those who can do the science. Cheers.
@Corona Pyrrhus Mass immigration has made things more expensive? I think it's actually what has kept prices somewhat in control. If all the employers had to pay Americans, they would have to cut into their margins to keep prices the same.... That wouldn't happen.
@Corona Pyrrhus They are taking low blue collar work that America couldn't staff without them. Why would that keep wages low. I think wages haven't kept up with inflation because more money is floated to the top. Mid level people are considered disposable.
@@hialeahtheo @puppetkite The middle class has collapsed as the minimum wage increased because they couldn't out pace the forced wage increases that the government forced. Most people's parents who worked their way up and were making $22 an hour are now considered poor because an entry level kid can make $15 an hour (at least in my state and as I'm sure you would like). These middle class workers aren't getting a $7 wage increase as well when the minimum wage workers get it. You're killing the middle class with your greed
I'm getting totally killed on Commercial Real Estate. Loosing millions a month. Hotels are empty, stores are closed and barely paying any rent. Tough times.
Here's how to never live paycheck to paycheck EVER AGAIN: 1) Never Finance a Car, Cars are depreciating assets and what most people don't realize is that by the end of your term you've paid more than what the car is worth at the time and on top of that, you paid interest not only on the principle of the loan but also the taxes. 2) Never get an FHA loan on a house. FHA loans are for people that can't afford the house to begin with because they don't have enough of a down payment. if you get a mortgage, make sure it's one of the best mortgages in the country. Another thing about FHA loans is that they have things such as PMI which is an extra cost to you which is basically insurance for the bank in case you foreclose. That's right, the banks charge YOU money every month in case you foreclose. 3) Only use credit cards for EMERGENCIES and Things you would've bought anyway. Things such as gasoline for your car and groceries. Don't spend the money to buy a concert ticket on a credit card, don't use credit cards to go out, etc... Credit cards average at least 25% interest rate, that is REVERSE COMPOUND INTEREST if you miss a payment and carry a balance. 4) Live below your means. If you make $20 an hour, live off of $15/hr. In other words, pretend that you only made $15 an hour. 5) Save at least 20% of your income and then invest it periodically. buy index funds and reinvest the dividends back into more index funds such as $SPY.
I don't know how much you agree with the Rich Dad Poor Dad books, but I agree with what you are saying and would add more to it. As is taught in those books, there is good debit and bad debit. Savers are losers and you are right about reinvesting what you do save from time to time. However, you need to do more than invest in index funds. You need to improve your cash flow with real returns. Index funds, from what I have seen have terrible returns like 3% or less.
@@flowbrandz316 Peter tweeted, and followed up on his podcast, that Skype made it difficult for him to hear Joe due to technical issues and the delay in sound. Also, Peter's earpiece went off whenever he kept talking, so he didn't hear a word that Joe was saying as Peter was talking. Indeed, Peter has a habit of talking for a long time, but he said that was a fault of his own with the mindset of the conversation. Once he hears a pause in an interview on mainstream news, he talks as much as he can to get his word out, so he used that mentality on JRE. And with the Skype issues, it's more frustrating. In the previous in-person podcasts on JRE, you'll notice him being very respectful.
@@aayushdubey4015 I don't think he's disrespectful, I just think he doesn't have a ton of self-awareness in that regard. If I remember correctly from those in-person interviews, he started them per usual and as he became more inebriated he calmed down a lot.
They should have forced all banks into suspending everything. Mortgages, rent, credit cards, student debt. Everything. Then we wouldn’t have needed a stimulus that basically goes from renter to landlord to bank anyways. Single biggest funnel of wealth upwards in history. If the banks could have held their fucking breath for 8 weeks there wouldn’t be a need for any of this bailout debating and countless lives would have been saved.
@@themicrophone nah, that is a bad idea, it would mean a total death for the banking system. There should have been no gov intervention at all - if some banks are going to fail, let them fail, if some banks are surviving - let them survive. It’s a job of a good banker to properly assess the risks, they just stopped going it because they were in the bed with the FEDs.
My local radio station did a story the other day about how many restaurants closed due to covid-19, that only 60% of those restaurants reopened after shutdown. The radio host says "it's very sad that this happened". Keep in mind this same radio host was begging for a shutdown back in March.
The people must be taken care of if we are paying taxes for almost everything. If the federal government is not going help the public people then we should stop paying taxes.
This statement proves that you still don't understand how it works. We don't pay taxes to the government. We pay taxes to the shareholders of stock of the privately owned central banks for "loaning" the government money that they create out of thin air. The IRS just collects it for those shareholders. The government can "take" money from the people, by having the fed print it (or create electronically) without ever collecting a dime of tax money from anyone. That's why inflation is referred to as a "hidden tax".
Great idea. But it takes everyone in the nation to buy into that idea, at the same time. It would "break the wheel" to quote Game of Thrones. Its the perfect plan. Just won't ever happen because the media(television and internet) have created too much division. Television has been used to indoctrinate people since it was invented. Same with the internet.
But thats the problem. The government is spending more money than what taxation brings in. Money it doesn’t have. It is printing money, thus reducing the value of it because there is more of it in circulation. The debt economy has ruined the entire world, and we are about to witness the biggest economic collapse in the history of the world
Mayra M Exactly. So we shouldn’t pay taxes. At least not anywhere near what we do today. Any culture ever would be horrified and confused at the rate of tax we pay.
I love how Peter fails to mention the "Govt" and Private Sector are run by the same people. It's called the revolving door. Been around for a LONG time.
Thanks James, that 's why we have a lack of civility, we the people are tired of the Gov/Private sector gaming/skimming of the economy while the bottom 50% of families can't cover a few hundred dollar emergency. And it's so obvious, corporations are first in line for bailouts to the point where the Fed has hired BlackRock and Pimco to manage the bad assets they're purchasing, a clear conflict of interest! It's just like the Black lives matter issue, these problems have been swept under the carpet for too long but it won't be solved until people really get pissed off. Peter is either naive/deceitful or too detached to understand what's going on here.
Hate to be that guy but joes economic knowledge would not lead to a very intelligent conversation I kind of like joe sometimes but he isn't the man for it
As long as we allow the rich to buy politicians with campaign finance and lobbying job bribes. There is no such thing as a free market. We have crony capatalism.
Yea, that was actually an appropriate comment to make given the context. Joe said something to the effect of "I have headphones and its difficult not having them" hence why the man says he has an earpiece. It's sad that 76 people didn't understand this
Joe was actually being polite about the fact that Peter wouldn't shut up while he was asking a question. I've seen the entire podcast. It was an ongoing problem. Joe was getting irritated with this guy. And rightfully so.
Peter explains what happened in the first 10 minutes of the episode linked below. Basically whenever one person started talking their ear piece cuts out, so you can't tell if the other person starts talking. Also, he couldn't see Joe on video, so he couldn't read his body language. czcams.com/video/_i_TTmzpt_U/video.html
Since the government bailed out corporations countless times, why not bail out the people.. that’s what this guy is not understanding. It’s too late, they already bailed out “too big to fail” corporations. We the people are “too big to fail”.
The one point I have to make to all these mega rich dudes talking about inflation. How do you make more people yet don't make more money? How on earth does this work for someone born without money? I mean I know its great for you if you are already rich because your money becomes worth more over time. How can this work with increasing populations?
This man is right. I know of several situations where a poor community made the same or more money from unemployment than working a job and they were spending all their time eating, drinking alcohol and doing nothing but being lazy and wasting time.
This guy is spot on. When I heard the government was going to step in and cover unemployment, I thought they were talking about a couple of weeks extended to regular unemployment. Now, we have...we actually have millions of infilled jobs available because people are getting more money to stay home. Also, I agree with the PPP disaster. Many companies should not have been bailed out ....they were failing anyway. When you mess with a self correcting system, you make things much worse. We need a government to defend us from threats from other nations and that is all we need it for. Leave the rest to the free market. The government sucks at economics and have no stake in production.
I love how Joe is so much of a professional that he knows how to prevent his guests from talking over him and gets them to shut up properly so he can finish his side first
But this guy wasn’t about to stop talking over Joe until he got a polite little lecture. Schiff is a true believer that doomsday is always right around the corner, and eventually he will be right. Maybe not in his lifetime, but eventually.
He answered it twice actually but Jo didn't picked it up.... let states handle and PAY for what they consider essential through taxation ! ... or that what i understood from him .
He actually answered most of his questions and then some. It's just that he has a habit to go off on a rant but only because he's trying to explain to Joe and us viewers the bigger picture.
Peter: people shouldnt have debt, if they saved theyd have been fine Joe: but how do they pay off 4 months worth of debts without getting paid every month.
@@ThePunisher123pXxbox Saving your money? Having a house isn't a right by no means. The government caused the housing bubble in 2008. Costs are lower without the market being subsidized. Like Texas? Cheap place to buy a huge house.
When he says people are at home collecting checks and they haven’t put anything into the pot is wrong. We pay into unemployment every week of our working lives. I paid in for 15 years straight and this is literally the first time I have ever used it. Unemployment is something we all fund together with our paychecks for situations like this. It would be like calling someone out for using the health insurance they pay for every month.
It’s unfortunate the government spends all your unemployment taxes before you collect so there’s nothing left. That’s why I have a rainy day fund for myself because like most people I’m capable of creating a disaster fund for emergencies, the government is incapable of collecting and saving taxes for this purpose. They spend everything they collect and then some. Do you truly believe your social security taxes are sitting in a portfolio waiting for you to retire? This is a fantasy.
You're making this too much about you, and apparently feel attacked. . Some perspective is needed. I know half a dozen friends with high school kids.. ages 15-17(ish).. Working part time, they were lucky to make $100/WK.. good teenager spending cash, not too bad. When covid hit, they all got a raise to *$760/WK..* This isn't even accounting for all the other lower earners, or the jobless and not looking types, who jumped in and likely committed fraud, by saying they were seeking employment. It was a blanket free-for-all, that you're going to pay for later.. You wanna chop off your pecker, to prove Peter wrong, be my guest. . But he's right.
He's wrong about the 1940s...the difference was that factories were still in America! Things were manufactured and engineered in this country still! Today that is not the case. Go down to your local factory and you'll see that it closed in 1975. Times have changed, it's not like the 40s. People don't have the same options.
Yeah I totally see your point. In our town we have an Alcoa factory that shut down Lord knows when. All the labor gets shipped to other countries where it is cheaper. In my observation, it's because the expected quality of life in the USA is so much higher than elsewhere, so employees expect way more money than is feasible for many businesses
Emerson Sorto at some point in time, politicians began to make a very good pitch to a very distracted population, and offer the trade of our manufacturing industry for everything getting cheaper (China/Malaysian etc.) where the labor cost is non existent. Then recently it turned that way with over the counter drugs as well. Now the chickens are coming home to roost :(
Thats the free market omg, if i own a company why would i stay in a town with high labour wages and insurances etc. Or just outsource it and make more money. If the USA wants to be competitive in manufacturing it can't go down the traditional road but invest in robotics and A.I. this creates employment but not on the scale of what manufacturing using assembly lines usually creates.
The govt is paid for by the people, roughly 60 percent of the govt budget goes to military, most laws are created by politicians who are paid by lobbyists to look after and get support for corporate interests. We're given a stimulus package that gives a very small percentage to small businesses, the majority to corporations, and a check worth a month's rent to actual taxpayers. Yet there is a problem with the people asking for some help when govt shuts down the majority of small businesses which support local working class tax payers?
Look up your numbers. Last time I checked, military/war was less than 20%. The lobbying is a problem because normal business cannot get an advocate at that level.
I’m not hearing any solutions from this guy. Just “people should have savings like they did in the 1940s.” Despite the fact that cost of living has gone up faster than wages.
Correction: You didn't hear that there is an easy, magical, pain free way to fix this mess because there is none. Peter and many others have stated that the only way to fix this is to get out of the way and don't intervene and to let the free market take care of it. There is no need for big government and borrowed spending. But don't worry because reality will force a solution soon: The US is bankrupt at this point so either you default or you inflate.
Same thing here in Canada. The wages have stagnated and the cost of homes, taxes and pretty much everything else has sky rocketed. The average person can't afford to miss much more than 1 pay cheque.
"Saving more" "going out less" "living within your means" are some solutions right? Nope as soon as a vaccine comes out people will go back into $2 spent for every $1 earnt.
Yes Jesus Christ loves you. He died for you and me. John 3:16 For God so loved the world, as to give his only begotten Son; that whosoever believeth in him, may not perish, but may have life everlasting.
You can’t possibly believe that horseshit, don’t spout gobbledygook, it’s idiotic. Pick up a textbook on science or anthropology. Wake up. No one believes in the kiddy fiddlers dude. Lol
Niobium 23 i am warning you now. Hell is a real place. Please don’t go to hell. Revelation 21:8, KJV: "But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death."
If they aren't responsible with money that's their issue. People can't save money. They must have the newest iphone, refuse to buy clothes at discount stores, they buy exactly what food they want even if its not on sale, they smoke, drink, do drugs, drink energy drinks, blow money on the lottery, etc etc etc.... No one is willing to make sacrifices to save in case of emergency. They just live paycheck to paycheck and hope nothing bad happens (they'd be screwed). That's no way to live. Personal responsibility and self control are IMPERATIVE to a free society. If we cannot control ourselves, the state will.
Cameron Angel Dude, real wages haven’t gone up in over 40 years, but you think people should have no problem saving money? Many can save a little, but most of the country lives paycheck to paycheck because wages are shit in this country.
@@andrewptob Minimum wage is shit, yes. But although minimum wage used to give the worker more purchasing power than it does today, it still wasn't a great wage. Minimum wage was mainly for kids and bored elderly folk. Adults largely weren't satisfied with minimum wage, and that drove them to advance their skills/resume so that they could get a higher paying job or start a business. Self advancement was more prominent in our culture back then. Nowadays, people expect to be able to live comfortably off the lowest paying job available. They lack the drive to pursue better paying positions, and the government makes starting a business much more costly and difficult. This cultural change has a lot to do with irresponsible behavior being continuously rewarded. The government made it so conditions are NOT okay. If people are comfortable and financially independent, they don't need the government. This is not what the government wants. They want the people to be dependent. They knew if they rewarded irresponsible behavior it would only be a matter of time before the masses were begging for more government, in which case they could expand their power in broad daylight unopposed.
The issue is if the government is going to make businesses close until this epidemic passes then they should help support those businesses and employees that are unemployed
@alexander44444 Money is never a problem when you have the printing press. The problem is production. If you're not producing anything, your money is worthless.
@alexander44444 If the government forces a business to close and employees to lose their income, it is like the government is putting you in jail for a month and not give you food and water. And then when you die, your family can't complain because the government is broke and don't have money to feed you. Sounds like you would accept that explanation lol
@alexander44444 Inflation is natural occurrence of fiat currency, so no big deal as economy simply have to adjust to it for proper balance. Just look how much has the dollar inflated since inception. You may think your quality of life is worst off due to inflation but I can assure you if you step back in a time machine and go live in when the dollar was formed, you will not last a year there. The thing with money most people don't understand is money = debt. We are living in a debt based economy, meaning everything functions because of debt. And inflation is the oil that keep the system going. That is why the Government don't care about the National Debt. There was a time when people worry about the National Debt when it was only in the Billions. Now see how insignificant Billions would be today? That's how this game works. Like I say, money isn't important. It's production that matters. If we as a society does not produce, our money is worthless.
@@coatzalcoatl8188 hmm 15 and hour assuming full time 4 hours is 2600 gross..minus taxes (social security, Medicare, fed tax) , minus health care if available...ud basically not have to eat, not drive a lot, not live,etc to basically have little it if savings left over if anything..math doesn't add up.
I don’t agree with him on solving this crisis but Peter makes great points here regarding the dollar imploding. If we just keep printing money to solve crises, the dollar will have no strength around the world
It’s a lot trickier than most people understand to change a reserve currency. I urge everyone to do their research on this subject as it dispels this idea of the dollar falling out of favor precipitously. That said, I do think endless borrowing is a problem for other reasons.
Marc Weisi I hear you, but I don’t think this is the last pandemic. If we keep printing money after multiple crises in succession, that will be a difficult hit to the dollar’s strength
Just remember guys, it's all your fault that it isn't "the good old days" when people had savings and could pay for college out of pocket and all this...
The main reason college became so expensive was because the government started guaranteeing loans to everyone who wanted one. A responsible private lender would never have given out all these risky expensive loans for overpriced degrees. All it did was drive up costs.
@@jeremygaynor2410 Yep. The marginal rate was as high as 90%, IIRC. It also doesn't hurt when you're the only major manufacturing nation still standing after a literal world war.
Gavin Newsom: Because Trump isn’t stopping spread of Covid, I’m closing California, you can’t go to work or leave home. The people: how are we going to pay our bills? Gavin Newsom: Hold on, I’ll ask Trump. The people: Hold my beer. Gavin Newsom: oh and bars are closed 😬
Hedge funds essentially don't pay taxes because of the carried interest loophole, yet get bailout money from taxpayers. That's perverse. Educate yourself about the capital interest loophole if you have no idea what I'm talking about.
Its not the Fed’’s role as government to offer or create a resource for “just any entity with employees.” Who takes advantage of what’s offered is not the point here. States should have that jurisdiction, not fed - thus spending would be throttled.
I did think it was really weird that as soon as the lockdown was announced places like the Cheesecake Factory came out and stated they wouldn’t be paying there rent the next month to their landlords. Also they started lay offs like many companies. It amazed me that such a big chain had no savings or anything to be able to survive and pay their own rent.
Many businesses choose to distribute most of their profits, rather than keeping assets on the books. That way, if 100 people die in a fire at a Cheesecake Factory, they can just declare bankruptcy, reorganize, and their shareholders don’t really take a haircut.
The cost of living is waaaaay higher now than the way people lived in the 30s. It’s extremely hard to build a savings on the average wage and privately owned businesses are also in the same boat with the cost of running a business.
This guy has never met a problem that he doesn’t have the solution for. He also knows exactly how to avoid all problems before they are present. Brilliant.
The fed are bondholders, appears as an asset on their balance sheet. They don’t issue debt, the central government issues debt in the form of government bonds that the fed buys . The central government are than indebted to the fed. That is what he meant by the government not creating any money , they just use borrowed money to lend to others. Most of the money is credit .
Let the failures fail and bailout the people. New entrepreneurs will always produce products and new companies as long as there is a consumer that can buy. We bail out the people and let the rich fail. Incompetence must lose its wealth and power. For failure unaccountable Simply leads to more corruption and incompetence. Free markets work when corruption and fraud isn’t tolerated.
Give people money for nothing and they will vote for whomever gives them the most. It will end poorly no matter what in that circumstance because it then becomes a tool of the corrupt/fraudster politician. Government handing money out for nothing makes everybody poorer by stealing the purchasing power out of the pockets of everyone using the currency. So in effect you are robbing people just as much as you claim the corrupt wealthy are. Arguably you are doing it in an even more insidious way.
Brian isn’t The government already giving the money for nothing anyways, why not handed to the people? Is not like all of this you are talking about isn’t already happening. Who do these corps endorse? To those whom give them the most money. It’s already a tool for the corrupt politicians. Now, in a situation like we are living today. Wouldn’t make more sense to use all that money that was used to bailout all these corporations for the people that are hurting right now? These corporations should have been prepared for another collapse, specially because it had already happened to them and we bailed them out. It’s like they didn’t want to learn their lesson and relied on the fact that we were going to bailed them out again, which we did, and took advantage just to get richer. It’s almost like we rewarded them for their greed while giving a huge middle finger to the working class. Let them sink, fuck em. They knew what needed to be done to avoid another catastrophe and they looked the other way.
@@platoon1558 the government technically has nothing to actually give away. It is ultimately coming out of the value of all the money currently in supply. A la purchasing power. If you just create money without actually providing a service/good to throw into the pot then you are just destroying purchasing power which is ultimately what causes total government failure/collapse. We are going to have gigantic problems irregardless at this point. It is just a matter of do you live within your means now and break all these phoney politicians promises to get your vote... or do you kick the can hoping you arent the politician in charge at the time that gets destroyed when it all blows up. They can't let any large business fail anymore because it could take down the entire marketplace. We deserve everything that is coming to us given we live so far beyond our means in general.
Brian The damage is past done. There are really only three logical options for correction and moving forward. More of the same policies until a natural market correction, a New Great Depression, or use the tools that created this mess to recalibration the market back to a natural state and in a controlled manner.
So, the dude is sitting there pretending like the government can force you not to work, thus, not earn a penny for months, and not give you any compensation and telling you: you should have saved enough. What if you're 22 and just started working? What if they decide to shut down for a year? Ridiculous. Especially when you consider that a libertarian should just say: the government should not be able to tell you to close your business or to tell you to stay home
Yea and he also lives in LA surrounded by insane amounts of homeless tent cities. It's a very weird disconnect. The wealth gap is not his fault but it is impossible to ignore.
he'll move to Texas and vote for the same things that made California a shithole and he'll never admit it, hell he jokes about it, but he and all the people fleeing WILL just succeed in turning Texas into Cali and then, 20 years later, they'll do it again somewhere else.
No, he said he didn't take it but saw that he was eligible to take it if he fudged his claim since the government wasn't vetting any claims under 2 million.
People don't like hearing this, but he is saying the harsh truth (nothing is free except maybe natural resources). Just let that sink in. US citizen will get dollars but will not produce goods and services, while countries like China will. This will strengthen their currency compared to yours (that is what he is explaining in a very obnoxious way)
Yea they’re getting free money right now but that’s because most of the country is shut down. Where are they supposed to work ? What he is saying is true but he’s not offering a viable solution to the problem that is present right now
Unfortunately the solution is likely to only mitigate some of it. Subsidized reshoring of critical goods manufacturers along with automation and training for those system maintainers. Additionally closing tax loopholes. I don’t necessarily agree on abolishing the minimum wage. And of course there should be no bailouts. Any existing solvent people remaining should be spurred away from working in successful businesses and into business-creation by lucrative incentive subsidies, if not all funded by existing capital funds. Unless people feel like starting a ww3 for the sake of paying of the massive debt via some gigantic reconstruction project
@@keithmoriyama5421 I mean it is, Saudi Arabia, Norway, Russia, iran would have been totally different without oil, plus agriculture kind of depends on size and fertility of land etc.
@@tgc856 due to lack of preparation, there is no good solution. It is like you are in a examination hall and have not studied much, what can you do?. One healthy way for economy would be to use tax for welfare money, but people will definitely not like that. Right now only thing that every country can do is weather the storm, and make good decisions in the future. So the next time some pandemic happens, debt and inflation is low and the system is strong.
Hey Rogan, you might not see this but I'm shootin' my shot: Please have Professor Richard Wolff on your show. You just had a Libertarian Economist and Wolff is a Marxist Economist, who can speak on matters of the economy just as well, but with a Socalist/Marxist lens. Please up vote if you want to see that perspective as well!
“When someone tries to lay a guilt trip on you for being successful, remember that your guilt is some politician's license to take what you worked for and give it to someone else who is more likely to vote for the politician who plays Santa Claus with your money.” Thomas Sowell @ThomasSowell 🐦
his gay what? Hat? Scarf? Words? Actions? You say "your gay" but you didn't finish the possessive pronoun. Just curious as to what he had that was gay...oh, oh you meant "you're gay," correct? Your bad.
Peter's been singing this tune about the dollar imploding and losing reserve currency status for at least 15 years now. He's right of course, but its amazing its been going on for so long.
This guy is 100% right when it comes to to the unemployment. I was making more to sit at home and felt dumb when i volunteered to go back to work. I took a paycut to work.
Joshua Paulson He didn’t destroy him. Richard Wolff is of a Jewish descent. His grandfather was from a very wealthy Jewish family in Germany with deep connections to USSR politicians. It’s no secret that Marx, Lenin, and Wolff belong to the same tribe, which is the reason why he supports socialism. Not every group gets killed under socialism, just yours.
@@backup9911 Wolff doesn't really hide his background. However, his parents did flee Nazi Germany and Richard Wolff grew up in a poor household here in the states. His father lost everything. So it kind of doesnt matter how rich or successful his German Jewish Grandfather was Pre-Holocaust. In fact, you bringing up Jewishness as some sort of explanation for dismissing Wolff and/or Marxism says more about you than anything else really...
I DO blame the government and Wall St. for the bailouts because they are the SAME f'ing thing. That's the thing, Wall St. pulls the strings of government.
Peter Schiff doesn’t seem to understand that inflation is the least of the Fed’s worries right now. We’re more at risk on the deflationary side which poses a larger threat with rates at the zero bound already. We have the tools to combat inflation, but fighting deflation today is very tricky.
Because the dollar you or I have has already been spent and not by us. They replaced our purchasing power, making my dollar and your dollar valueless. Hense why they started buying up consumer product to try to inflate our gdp. Silly rabbit, money is tied to health insurance not oil, nor products. It's corruption at its finest and most people don't understand it. The issue began in 2014 so look two years prior and you'll be able to see the cause and effect. Spending money by giving healthcare industry doesn't make for inflation, and spend my dollar before me doesn't replace my buying power. Trust me you can't learn any of this in school but since you have all the time to spare go read and learn something. Stop handing money over to companies and stop give money to hospitals and let the normal process of of the economics well take it's place. Because politicians are taking money to campaign instead of telling people stop donating to them and donate to the people.
financial debt was a premeditated, created and enforced system. This ISN’T 1940 Peter. How many MILLIONS of people now live paycheck to paycheck because it’s NOT the cost of living like 1940. This guy is grossly not rational
So communism or a monarchy is a better system is what your saying? Criticize the system all you want, its the best system so far in human history and Peter is just explaining his views on how to improve the system.
Disagree, still many ppl saves alot of money for 20yrs since college if they are frugal, spend hundreds on wknd, vacation, etc..step by step will save wealth
Walker Meiner Peter can talk about improving all he wants. He can dance for all I care. His personal stake in the current US affairs is of no importance at present time. Who is incumbent to make the right decisions is Congress + Trump. Together they need (yes need, bc it’s far beyond imperative) to act accordingly to help the millions of Americans cut off at the knees by the economic nosedive we took and are still tailspinning in. You don’t get to just shut millions of people out of their jobs and tell them to just go figure it out. There’s accountability and it demands a response to alleviate it. Period
P Ch see this the short sightedness of people. You say that like it’s an all encompassing statement covering all those shut out from work by covid. Go talk to a small gym owner or bar owner who sunk every nickel they had into the place and were living on the fruits of their business, and now it’s curtains for them You really sound so ignorant by saying it’s people that don’t manage money right that are to blame right now for their financial hardships
He owns his own gold company, Shiff gold I believe. So, him saying that there is going to be a huge economic collapse needs to be taken with a grain of salt.
I agree he’s smart. Just saying that when someone does something for a living you can’t just take their word for everything. He Could be playing it up a bit for business is all I’m saying
Lol I disagree on that.... That's a so so argument... I always hear it and it depends on the person. I know a lot of successful people that sell stuff and they won't even being it up unless u ask them...
Krisztian Gagyi ok, don’t take what he has to say with a grain of salt. Just blindly follow every word he says. You guys don’t understand what the phrase “ take it with a grain of salt” means ? Not sure how you can disagree lol
Joe needs to do a quarterly roundtable discussion with 4 to 5 of his guests who are knowledgeable about economics, finance, and politics. People would learn a lot.
What is this, bill mahr? No thanks.
And one of those people would not be Peter Schiff.
I have people in the company we’re I work that refused to come back to work because they are making an extra 600 dollars a month ( but they said , oh I’m not ready yet) , we just offer some of the part timers a ft position and they said no because they are playing the system and now they are going to make an extra 200 , some refused to return from furlough just because of the extra money , most of the ones that are working and are ft call out two days a week to collect the extra 600 hoping the department of labor won’t catch up on it because it’s not that the company is cutting their hours but they report they are working less , 🤦🏽♂️ some ppl just don’t want to do better in life just because they got a few extra 100 dollars to not work.
The first person he needs to contact is Professor Steve Keen who has debunked Neoliberal Economics.
That's the thing...if america actually did this and listened to these people our country wouldn't be the shithole its becoming.....
Wife is small business owner of a salon in OH . Was rejected 3 times for PPP. Always big business making money middle class getting screwed .
Ohio is headed up by Dewine....the state as a whole is gonna ruin small biz for years after this. It’s very worrisome
I know people who's businesses were not forced to shut and they got ppp
I got accepted on Kabbage they’re seemingly the most reliable to approve
How much in tips did that salon never claim. If you didn’t get ppp it’s cause you don’t have wages. Funny how people that don’t pay taxes want ppp
She is self employed files a 1099.. she has her own LLC set up current etc . She is the sole person working. She is a Salon owner we pay 800$ a month for the room rent . Then she needs to buy own products etc . We tried 3 different times most we tried to get was 18000$ then we dropped it to 9000$ and still got denied . We inserted all the correct information into the correct document but Chase denied us and another smaller as well
We file jointly so we definitely pay our share of taxes she claimed 65 k last year . Legit . So we definitely should have qualified. Didn’t get PPP
They did offer a SBA-loan @3.75% for 30 years
In 1940 everything wasnt made in china.
I agree keep Government out of capitalism but you gotta keep capitalism out of government.
No giving money to government officials to make laws in a company's favor.
Not only China’s impact, he mentioned inflation without even highlighting how wages have barley increased. Stupid dinosaurs should not compare life in 1940 to 2020....
can't keep government out of the economy. capitalism has a tendency of creating monopolies, which the state is supposed to fight against. government can be a producer of monopoly, although those are mainly state owned companies. There is a underlying question whether or not government companies should have monopolies. They have huge funds for huge projects such as building infrastructure or things the economy wouldn't finance due to not being in demand such as semiconductors. Now semiconductors run a trillion dollar IT industry, but back when R&D was still researching the money had to come from somewhere were a loss was also a possibility.
keep government small
In the 1940s the amount of consumer goods available was probably a fraction of what it is today. You can't compare 80 years ago to today. That's like saying almost everything was American made in 1900. Well they also barely had electricity so that point is kind of irrelevant.
It stops being capitalism when the government is involved. It becomes corporatism.
I’m glad joe Rogan being super rich still understand how hard it is for normal people during all this
More important though, is understanding how to make it easier on us.
I agree / humble & can relate to us “ useless eaters “!! Lol 😂
It's because he wasn't born rich, like most people in powerful positions
He wants to be liked people like schiff have real love because they tell the truth and don’t give a damn how u feel
He doesn’t
We need more shows like Joe Rogen. Keep it real . Show both sides of the argument and let the viewer make their own decision. Thank you Joe Rogan
Check out London Real channel with Brian Rose!
BLUiSAVAGE : nah he’s kinda douchey
Mark Johhson had Jack Dorsey once
You don't have to be a Libertarian to realize the government is way too big and debt is a huge problem.
I'm a libertarian and debt isn't a problem. You know what is a problem? Wars. Wars is the equivalent of mass murders for corporate greed. Imagine if you kill someone for their money, you would be imprison or receive the death penalty. But when the Elites use Government to commit war on nations who can't defend themselves and take their resources and place their people in slave-like working conditions to produce goods for us at cheap price. That my friend, I have a problem with. As a libertarian, we value "liberty" and part of that principle is to respect other's liberty and therefore using force to achieve economic prosperity is immoral and despicable.
@@walden6272 i assure you there's no libertarian on the planet that thinks war is a bigger issue than debt and spending. Most libertarians are anti intervention sure, but personal liberties and government overreach are #1 on the list
@@KrymsonSkyz invading other countries is a result of government overreach though. military is for defence not invading.
Yes and no. If I give 100 million in donations to a bunch of politicians and they get me a tax break that saves me 30 million a year.... It just makes sense for me to do that. Maybe weaken a few regulations that saves me money. Get contracts and loans for my business fast tracked and approved. So many ways to make more money. Basically what I'm saying is all boils down to corruption of the government. Not the size.
@@walden6272 No creating money out of thin air and using it to make more fake money is still a problem. Spending 600 billion a year on the military is also a problem though.
This virus has just made me realise how badly a lot of countries are run and how dependable we are on others rather than creating our own products and food
Jamie Poulton just? Well I’m glad you’re awake now
100 percent. I've been thinking that for a long time. Many would call it 'globalism'.
The road to autarky has the potential to be very costly, especially in lives of your own citizens and other peoples.
We actually do produce most our own food. The shortage was from govt shutting things down
@@TS-ql2gl the only countries that are not good for agroculture is the middle east. You see in the couple 30years ago UAE was buidling crazy skyscrapers and people are driving crazy cars instead of spending money on agroculture. When Covid hit the goverment asked double tax because they had food shortage because they are importing like 70-80% of food. They spend 70-90 bilions of dollars building artificial islands and only one of them is profitable the other are not bought nor rented.
Peter Schiff *opens mouth to breathe*
Joe Rogan: "can i pause you for a second?"
wtf Peter talks so fast he never allows Joe to talk. Watch the entire podcast
@@NEKORID Peter had tweeted that he apologized for interrupting Joe, explaining there were technical difficulties using Skype, as it had some delay and also prevented him to hear Joe when Joe was talking. If you look at their previous sessions together, there were minimal, tolerable interruptions by both Peter and Joe, and you could learn a lot from those earlier podcasts.
@@aayushdubey4015 Yep, I read about it afterwards. You are totally right
Joe “Peter Peter Peter Peter Peter” Rogan
😂😆😆
I don’t think Peter is going to be invited back to the podcast...
Yeah this was a tough one to listen to 😂
Nice
Let me pause you right there
PETER SCHIFF:
2010: "THE MARKET IS GOING TO CRASH!!"
2011: "THE MARKET IS GOING TO CRASH!!"
2012: "THE MARKET IS GOING TO CRASH!!"
2013: "THE MARKET IS GOING TO CRASH!!"
2014: "THE MARKET IS GOING TO CRASH!!"
2015: "THE MARKET IS GOING TO CRASH!!"
2016: "THE MARKET IS GOING TO CRASH!!"
2017: "THE MARKET IS GOING TO CRASH!!"
2018: "THE MARKET IS GOING TO CRASH!!"
2019: "THE MARKET IS GOING TO CRASH!!"
2020: "I TOLD YOU THE MARKET WAS GOING TO CRASH..."
2006 Peter schiff market is gonna crash. 2008 it did and got bailed out. 2020 it did and getting bailed out now u just don't know it because u think there is a scary virus out there
a clock thats broken is right twice a day
@@arcocourier8227 deflation is a problem right now. Money isn't moving through the economy rn
I think we all know it's going to happen at some point. The federal reserve artificially propping up the economy and devaluing the dollar with this huge national debt hanging over our head can't last forever.
When you wake up and finally realize that it has crashed, don't whine about it, Nick!
Honestly, as harsh as Peter sounds, post-lockdowns he’s hit the nail on the head. He is spot on with inflation, rising prices, and social unrest. He was completely right.
He’s right. If the states had no bail out coming they would think differently about closing economies and allowing lawlessness.
I 100% agree with most of your point from the exact opposite direction: thank god they do have a "bailout", so that the states can shut things down and start getting this epidemic back under control. The problem before is that we DIDNT react fast enough. The "lawlessness" you've mentioned (I presume your take on the recent public protests and the relatively few lootings we've had during them), is literally an entirely different matter that happens to be coinciding. Unless the "lawlessness" you mean is passing health ordinances forcing the public to wear masks to prevent contamination, which is a ridiculous take, so I hope not.
Except the federal government takes a whole lot more taxes from citizens than the state governments. State governments are broke.
The states cant afford this crisis. They dont have the revenue. We cant let millions just become homeless with no jobs. If the economy calapses, it wont matter if the dollar doesnt lose value. Only the rich would benefit
I hope at least we can agree that we both have the right to state our opinions openly. I support your freedom in that - even though we completely disagree. Regarding the "bail out" calling it a "bail out" does not mean there is magical money. Governments do no have money. The lawlessness I refer to is both the shut down of our freedom AND the violence from anarchists who are ruining peaceful protests.
@@JWCustomsINCPasadena Certainly. As they say, opinions are like assholes...
The only danger comes in confusing our opinion with the good scientific data provided by researchers who do this professionally. If you're not a data scientists, economist, virologist (and I'm none of these) then our opinions are our opinions, and not our facts. We need to agree with those who can do the science. Cheers.
I think Peter's point is that the world problems would be fixed if DMT was used as currency instead of money
Then joe will be president
dub dub the high class world is but, inconsistence, and will drown in its own deliverance
@@hjkio7029 I'd take Joe over Don...
How much dmt for some elk meat?
Blahahaha
Everything is more expensive, average person’s wage has stayed the same for years
@Corona Pyrrhus then start holding the employers who are employing the illegal immigrants accountable
Corona Pyrrhus and because Republicans are against raising the minimum wage in their states
@Corona Pyrrhus Mass immigration has made things more expensive? I think it's actually what has kept prices somewhat in control. If all the employers had to pay Americans, they would have to cut into their margins to keep prices the same.... That wouldn't happen.
@Corona Pyrrhus They are taking low blue collar work that America couldn't staff without them. Why would that keep wages low. I think wages haven't kept up with inflation because more money is floated to the top. Mid level people are considered disposable.
@@hialeahtheo @puppetkite The middle class has collapsed as the minimum wage increased because they couldn't out pace the forced wage increases that the government forced. Most people's parents who worked their way up and were making $22 an hour are now considered poor because an entry level kid can make $15 an hour (at least in my state and as I'm sure you would like). These middle class workers aren't getting a $7 wage increase as well when the minimum wage workers get it. You're killing the middle class with your greed
I blew up all of my saving during this pandemic.
better start saving your pennies for the crash
“They are going to suffer in a year or 2 even more due to the inflation”
We are a year or 2 later and we are suffering due to inflation
I'm getting totally killed on Commercial Real Estate. Loosing millions a month. Hotels are empty, stores are closed and barely paying any rent. Tough times.
Sorry, brother.
Hang in there @Ben Mallah. Hope to see you at Johns Pass
Yes I’m so sorry to hear that I love your videos stay safe
Smoke some Newport’s it will all work out Ben. Keep those cigs lit 🔥 my brother.
Stay strong man, better times will come!
Here's how to never live paycheck to paycheck EVER AGAIN:
1) Never Finance a Car, Cars are depreciating assets and what most people don't realize is that by the end of your term you've paid more than what the car is worth at the time and on top of that, you paid interest not only on the principle of the loan but also the taxes.
2) Never get an FHA loan on a house. FHA loans are for people that can't afford the house to begin with because they don't have enough of a down payment. if you get a mortgage, make sure it's one of the best mortgages in the country. Another thing about FHA loans is that they have things such as PMI which is an extra cost to you which is basically insurance for the bank in case you foreclose. That's right, the banks charge YOU money every month in case you foreclose.
3) Only use credit cards for EMERGENCIES and Things you would've bought anyway. Things such as gasoline for your car and groceries. Don't spend the money to buy a concert ticket on a credit card, don't use credit cards to go out, etc... Credit cards average at least 25% interest rate, that is REVERSE COMPOUND INTEREST if you miss a payment and carry a balance.
4) Live below your means. If you make $20 an hour, live off of $15/hr. In other words, pretend that you only made $15 an hour.
5) Save at least 20% of your income and then invest it periodically. buy index funds and reinvest the dividends back into more index funds such as $SPY.
Yay, someone with a brain. =)
But don't you get bored without a trophy wife?
👀👍
I don't know how much you agree with the Rich Dad Poor Dad books, but I agree with what you are saying and would add more to it.
As is taught in those books, there is good debit and bad debit. Savers are losers and you are right about reinvesting what you do save from time to time. However, you need to do more than invest in index funds. You need to improve your cash flow with real returns. Index funds, from what I have seen have terrible returns like 3% or less.
Some good advice.
Joe Rogan is the nicest person I've ever seen command respect. I can't find anyone Peter Schiff will stop talking for like Joe.
Yea after he said hold on 15 times
@@shaneeckler3719 Yeah, have you seen other Peter Schiff interviews? That's a record.
@@flowbrandz316 Peter tweeted, and followed up on his podcast, that Skype made it difficult for him to hear Joe due to technical issues and the delay in sound. Also, Peter's earpiece went off whenever he kept talking, so he didn't hear a word that Joe was saying as Peter was talking.
Indeed, Peter has a habit of talking for a long time, but he said that was a fault of his own with the mindset of the conversation. Once he hears a pause in an interview on mainstream news, he talks as much as he can to get his word out, so he used that mentality on JRE. And with the Skype issues, it's more frustrating. In the previous in-person podcasts on JRE, you'll notice him being very respectful.
@@aayushdubey4015 I don't think he's disrespectful, I just think he doesn't have a ton of self-awareness in that regard. If I remember correctly from those in-person interviews, he started them per usual and as he became more inebriated he calmed down a lot.
This guy knows everything. Thank god he’s here to help us understand all of this.
"We can't just use the federal reserve as a piggy bank"
*Donald Trump* "Hold my Beer"
*in DJT voice* “It’s a big, huge, the most beautiful piggy bank that will save the economy for the people”
Queue the Apprentice Theme Song
Should be "Hold my Diet Coke"
@@MrJwyne 😂😂
Trump doesn't drink beer, he's strictly an adrenochrome user.
Wright or wrong it's a more coherent arguement than you'll hear out of the presidential candidates this year
this debate makes a lot of sense and honestly its kind of scary. I agree you cant go back to a norm which was essentially a "bubble"
which is scary. even scarier is that DT can run rings around Ole Joe with regards to the economy and he is still killing us
They should have forced all banks into suspending everything. Mortgages, rent, credit cards, student debt. Everything. Then we wouldn’t have needed a stimulus that basically goes from renter to landlord to bank anyways. Single biggest funnel of wealth upwards in history. If the banks could have held their fucking breath for 8 weeks there wouldn’t be a need for any of this bailout debating and countless lives would have been saved.
@@themicrophone nah, that is a bad idea, it would mean a total death for the banking system. There should have been no gov intervention at all - if some banks are going to fail, let them fail, if some banks are surviving - let them survive. It’s a job of a good banker to properly assess the risks, they just stopped going it because they were in the bed with the FEDs.
My local radio station did a story the other day about how many restaurants closed due to covid-19, that only 60% of those restaurants reopened after shutdown. The radio host says "it's very sad that this happened". Keep in mind this same radio host was begging for a shutdown back in March.
The people must be taken care of if we are paying taxes for almost everything. If the federal government is not going help the public people then we should stop paying taxes.
This statement proves that you still don't understand how it works. We don't pay taxes to the government. We pay taxes to the shareholders of stock of the privately owned central banks for "loaning" the government money that they create out of thin air. The IRS just collects it for those shareholders. The government can "take" money from the people, by having the fed print it (or create electronically) without ever collecting a dime of tax money from anyone. That's why inflation is referred to as a "hidden tax".
Great idea. But it takes everyone in the nation to buy into that idea, at the same time. It would "break the wheel" to quote Game of Thrones. Its the perfect plan. Just won't ever happen because the media(television and internet) have created too much division. Television has been used to indoctrinate people since it was invented. Same with the internet.
Taxation, all of it, is theft. If your ideas require physical force your ideas are worthless.
@@donaldlawson9799 Stoping someone from taking what you produce may require physical force are property rights a worthless idea?
@@ethandight9050 nice 200iq that is obviously not what he meant. If your ideas require using force to take from other people's private property*
Who’s doing breathing exercises while watching this 😂
😂
Bra
i am... i got a strip of tape on my mouth lol
“We have a problem listening to each other”
-Joe Rogan
Tried fkn hyperventilating by the end 🤣
If the federal government is not going to help its people when they are in need than we shouldn’t pay taxes.
*then
@Mike Lmaoo Go live in the rainforest.
But thats the problem. The government is spending more money than what taxation brings in. Money it doesn’t have. It is printing money, thus reducing the value of it because there is more of it in circulation. The debt economy has ruined the entire world, and we are about to witness the biggest economic collapse in the history of the world
Mayra M Exactly. So we shouldn’t pay taxes. At least not anywhere near what we do today. Any culture ever would be horrified and confused at the rate of tax we pay.
Yeah but if they weren't any taxes we wouldn't need their help because we would have more capital... that is the issue he is pushing
I'm from Argentina and I KNOW EXACTLY what he is talking about - It's called HYPER-INFLATION
Yikes pay attention to world news much?
How much for an UGI's pizza these days?
400,000 for a pizza. LOL. No thanks
@@curtis4991 whats that mean?
And there will be NO hyper-inflation in the U.S.
Took me 19 minutes to realise why Peter REALLY wants people to save more 😂😂
I love how Peter fails to mention the "Govt" and Private Sector are run by the same people. It's called the revolving door. Been around for a LONG time.
Exactly
He doesn't mention it here but he talked about it during the occupy wall street times
Thanks James, that 's why we have a lack of civility, we the people are tired of the Gov/Private sector gaming/skimming of the economy while the bottom 50% of families can't cover a few hundred dollar emergency. And it's so obvious, corporations are first in line for bailouts to the point where the Fed has hired BlackRock and Pimco to manage the bad assets they're purchasing, a clear conflict of interest! It's just like the Black lives matter issue, these problems have been swept under the carpet for too long but it won't be solved until people really get pissed off. Peter is either naive/deceitful or too detached to understand what's going on here.
Just because he didn't mention it doesn't mean he don't agree with you... But the source of this problem is the government
TOP COMMENT
listening to these two talk over each other is like watching ESPN First Take... Stephen A Smith and Max Kellerman
@@BenXCrunner1 random as hell but ok
Would love Joe to hold a modern monetary theory vs free market debate.
What is that
ky types of economic systems
These "theories" are not modern.
Hate to be that guy but joes economic knowledge would not lead to a very intelligent conversation I kind of like joe sometimes but he isn't the man for it
As long as we allow the rich to buy politicians with campaign finance and lobbying job bribes. There is no such thing as a free market. We have crony capatalism.
Joe: we’re having difficulty talking cause of Skype
Peter: I HAVE A EARPIECE
Worst interview evar
Yea, that was actually an appropriate comment to make given the context. Joe said something to the effect of "I have headphones and its difficult not having them" hence why the man says he has an earpiece.
It's sad that 76 people didn't understand this
Joe was actually being polite about the fact that Peter wouldn't shut up while he was asking a question. I've seen the entire podcast. It was an ongoing problem. Joe was getting irritated with this guy. And rightfully so.
@@cr2lives, it turned out to be good though
Peter explains what happened in the first 10 minutes of the episode linked below. Basically whenever one person started talking their ear piece cuts out, so you can't tell if the other person starts talking. Also, he couldn't see Joe on video, so he couldn't read his body language. czcams.com/video/_i_TTmzpt_U/video.html
I keep telling my boss to pay me more. He doesn't listen or can't hear me from his yacht
Better start your own business then. You’ll never be rich working for somebody else.
Underrated comment 🤣
Since the government bailed out corporations countless times, why not bail out the people.. that’s what this guy is not understanding. It’s too late, they already bailed out “too big to fail” corporations. We the people are “too big to fail”.
@@fatherfreedom1946 That's not true. Bailouts can help. It's how it's distributed. You wouldn't have to give out as much if it's properly governed.
I also know that companies are for BLM is because they know these protests spread covid and keep the economy closed for the "little guy".
The one point I have to make to all these mega rich dudes talking about inflation. How do you make more people yet don't make more money? How on earth does this work for someone born without money? I mean I know its great for you if you are already rich because your money becomes worth more over time. How can this work with increasing populations?
This man is right. I know of several situations where a poor community made the same or more money from unemployment than working a job and they were spending all their time eating, drinking alcohol and doing nothing but being lazy and wasting time.
This guy is spot on. When I heard the government was going to step in and cover unemployment, I thought they were talking about a couple of weeks extended to regular unemployment. Now, we have...we actually have millions of infilled jobs available because people are getting more money to stay home. Also, I agree with the PPP disaster. Many companies should not have been bailed out ....they were failing anyway. When you mess with a self correcting system, you make things much worse. We need a government to defend us from threats from other nations and that is all we need it for. Leave the rest to the free market. The government sucks at economics and have no stake in production.
I love how Joe is so much of a professional that he knows how to prevent his guests from talking over him and gets them to shut up properly so he can finish his side first
Frfr
But this guy wasn’t about to stop talking over Joe until he got a polite little lecture. Schiff is a true believer that doomsday is always right around the corner, and eventually he will be right. Maybe not in his lifetime, but eventually.
This guy could’ve added so much value to this conversation if he’d just answer Joe’s questions instead of rambling
He answered it twice actually but Jo didn't picked it up.... let states handle and PAY for what they consider essential through taxation ! ... or that what i understood from him .
He actually answered most of his questions and then some. It's just that he has a habit to go off on a rant but only because he's trying to explain to Joe and us viewers the bigger picture.
We basically need a revolution
Every answer is a rant with this guy. He's not used to this format. He's used to giving hot takes in short clip news shows
Peter: people shouldnt have debt, if they saved theyd have been fine
Joe: but how do they pay off 4 months worth of debts without getting paid every month.
Shouldn't have gotten in debt anyways? Hello? Consequences for every action. Credit cards are trouble. Stupid
Josh Sprague then how will people buy houses genius
@@ThePunisher123pXxbox Saving your money? Having a house isn't a right by no means. The government caused the housing bubble in 2008. Costs are lower without the market being subsidized. Like Texas? Cheap place to buy a huge house.
0@i
Josh Sprague you must still live with your mom if you think any normal person can save 100,000k+ to buy a house cash
When he says people are at home collecting checks and they haven’t put anything into the pot is wrong. We pay into unemployment every week of our working lives. I paid in for 15 years straight and this is literally the first time I have ever used it. Unemployment is something we all fund together with our paychecks for situations like this. It would be like calling someone out for using the health insurance they pay for every month.
Ummm... i think you missed everything he said
Patrick T You pee sitting down......
It’s unfortunate the government spends all your unemployment taxes before you collect so there’s nothing left. That’s why I have a rainy day fund for myself because like most people I’m capable of creating a disaster fund for emergencies, the government is incapable of collecting and saving taxes for this purpose. They spend everything they collect and then some.
Do you truly believe your social security taxes are sitting in a portfolio waiting for you to retire? This is a fantasy.
This guy has an agenda and I feel like he's collecting a check. Just an opinion. No need to argue.
You're making this too much about you, and apparently feel attacked. . Some perspective is needed. I know half a dozen friends with high school kids.. ages 15-17(ish).. Working part time, they were lucky to make $100/WK.. good teenager spending cash, not too bad.
When covid hit, they all got a raise to *$760/WK..* This isn't even accounting for all the other lower earners, or the jobless and not looking types, who jumped in and likely committed fraud, by saying they were seeking employment.
It was a blanket free-for-all, that you're going to pay for later.. You wanna chop off your pecker, to prove Peter wrong, be my guest. . But he's right.
He's wrong about the 1940s...the difference was that factories were still in America! Things were manufactured and engineered in this country still! Today that is not the case. Go down to your local factory and you'll see that it closed in 1975. Times have changed, it's not like the 40s. People don't have the same options.
Why did factories close or move out of the country?
Yeah I totally see your point. In our town we have an Alcoa factory that shut down Lord knows when. All the labor gets shipped to other countries where it is cheaper. In my observation, it's because the expected quality of life in the USA is so much higher than elsewhere, so employees expect way more money than is feasible for many businesses
Emerson Sorto at some point in time, politicians began to make a very good pitch to a very distracted population, and offer the trade of our manufacturing industry for everything getting cheaper (China/Malaysian etc.) where the labor cost is non existent. Then recently it turned that way with over the counter drugs as well. Now the chickens are coming home to roost :(
China took our industry model and has been using it to grow, the East shall rise again.
Thats the free market omg, if i own a company why would i stay in a town with high labour wages and insurances etc. Or just outsource it and make more money. If the USA wants to be competitive in manufacturing it can't go down the traditional road but invest in robotics and A.I. this creates employment but not on the scale of what manufacturing using assembly lines usually creates.
This is the difference in “talking WITH someone” and “talking AT someone”!
The govt is paid for by the people, roughly 60 percent of the govt budget goes to military, most laws are created by politicians who are paid by lobbyists to look after and get support for corporate interests. We're given a stimulus package that gives a very small percentage to small businesses, the majority to corporations, and a check worth a month's rent to actual taxpayers. Yet there is a problem with the people asking for some help when govt shuts down the majority of small businesses which support local working class tax payers?
Look up your numbers. Last time I checked, military/war was less than 20%. The lobbying is a problem because normal business cannot get an advocate at that level.
Peter was right on the money about inflation. Dude saw it coming a mile away and now look where we're at...😐
Joe “Im in the business of comedy” Rogan
He's a joke himself. He knows the majority of his income is from the podcast.
The comedy store is my home 🙄
I’m not hearing any solutions from this guy. Just “people should have savings like they did in the 1940s.” Despite the fact that cost of living has gone up faster than wages.
Correction: You didn't hear that there is an easy, magical, pain free way to fix this mess because there is none. Peter and many others have stated that the only way to fix this is to get out of the way and don't intervene and to let the free market take care of it. There is no need for big government and borrowed spending. But don't worry because reality will force a solution soon: The US is bankrupt at this point so either you default or you inflate.
Costs went up because of loans and interest
Same thing here in Canada. The wages have stagnated and the cost of homes, taxes and pretty much everything else has sky rocketed. The average person can't afford to miss much more than 1 pay cheque.
"Saving more" "going out less" "living within your means" are some solutions right?
Nope as soon as a vaccine comes out people will go back into $2 spent for every $1 earnt.
The fix here if the government is willing to learn, is to bring jobs back. Otherwise we’re screwed .
Jesus Joe, straighten your headphone band.
Kills me
Yes Jesus Christ loves you. He died for you and me. John 3:16 For God so loved the world, as to give his only begotten Son; that whosoever believeth in him, may not perish, but may have life everlasting.
You can’t possibly believe that horseshit, don’t spout gobbledygook, it’s idiotic. Pick up a textbook on science or anthropology. Wake up. No one believes in the kiddy fiddlers dude. Lol
Niobium 23 i am warning you now. Hell is a real place. Please don’t go to hell. Revelation 21:8, KJV: "But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death."
When is it on straight?
So I love how I watch this every 2-4 months and Boom!!! It's happening more and more each qtr
It's exciting now, later it will be tragic..
Yer cuz people just have 3-6 months of savings at a time LOL.
They should people have been living over their heads for quite a while.
If they aren't responsible with money that's their issue. People can't save money. They must have the newest iphone, refuse to buy clothes at discount stores, they buy exactly what food they want even if its not on sale, they smoke, drink, do drugs, drink energy drinks, blow money on the lottery, etc etc etc.... No one is willing to make sacrifices to save in case of emergency. They just live paycheck to paycheck and hope nothing bad happens (they'd be screwed). That's no way to live. Personal responsibility and self control are IMPERATIVE to a free society. If we cannot control ourselves, the state will.
Cameron Angel Dude, real wages haven’t gone up in over 40 years, but you think people should have no problem saving money? Many can save a little, but most of the country lives paycheck to paycheck because wages are shit in this country.
@@andrewptob Minimum wage is shit, yes. But although minimum wage used to give the worker more purchasing power than it does today, it still wasn't a great wage. Minimum wage was mainly for kids and bored elderly folk. Adults largely weren't satisfied with minimum wage, and that drove them to advance their skills/resume so that they could get a higher paying job or start a business. Self advancement was more prominent in our culture back then. Nowadays, people expect to be able to live comfortably off the lowest paying job available. They lack the drive to pursue better paying positions, and the government makes starting a business much more costly and difficult. This cultural change has a lot to do with irresponsible behavior being continuously rewarded. The government made it so conditions are NOT okay. If people are comfortable and financially independent, they don't need the government. This is not what the government wants. They want the people to be dependent. They knew if they rewarded irresponsible behavior it would only be a matter of time before the masses were begging for more government, in which case they could expand their power in broad daylight unopposed.
Cameron Angel and why is that ?
The issue is if the government is going to make businesses close until this epidemic passes then they should help support those businesses and employees that are unemployed
@alexander44444 Money is never a problem when you have the printing press. The problem is production. If you're not producing anything, your money is worthless.
@alexander44444 If the government forces a business to close and employees to lose their income, it is like the government is putting you in jail for a month and not give you food and water. And then when you die, your family can't complain because the government is broke and don't have money to feed you. Sounds like you would accept that explanation lol
@alexander44444 Inflation is natural occurrence of fiat currency, so no big deal as economy simply have to adjust to it for proper balance. Just look how much has the dollar inflated since inception. You may think your quality of life is worst off due to inflation but I can assure you if you step back in a time machine and go live in when the dollar was formed, you will not last a year there. The thing with money most people don't understand is money = debt. We are living in a debt based economy, meaning everything functions because of debt. And inflation is the oil that keep the system going. That is why the Government don't care about the National Debt. There was a time when people worry about the National Debt when it was only in the Billions. Now see how insignificant Billions would be today? That's how this game works. Like I say, money isn't important. It's production that matters. If we as a society does not produce, our money is worthless.
This was about 2 years ago and Peter said Massive inflation would come because of Lockdowns and dumb spending.
Nobody explains this stuff more clearly and accurately than Peter Schiff.
Everyone should have savings at $15 an hr with rent at 1800 for a one bedroom and $300 dollar car payment
just because he's loud, doesn't mean he's right
JerryFicusProject what was he wrong on?
Victor Cervantes if you’re making $15 an hour you should be living with family
@@coatzalcoatl8188 hmm 15 and hour assuming full time 4 hours is 2600 gross..minus taxes (social security, Medicare, fed tax) , minus health care if available...ud basically not have to eat, not drive a lot, not live,etc to basically have little it if savings left over if anything..math doesn't add up.
I don’t agree with him on solving this crisis but Peter makes great points here regarding the dollar imploding. If we just keep printing money to solve crises, the dollar will have no strength around the world
that's where a strong military comes in
True, but Schiff is nonstop impending doom. He has been making the same arguments for decades. He is like those “the world is ending next week” guys.
MrJamberee haha good point his brand is impeding doom it’s true
It’s a lot trickier than most people understand to change a reserve currency. I urge everyone to do their research on this subject as it dispels this idea of the dollar falling out of favor precipitously. That said, I do think endless borrowing is a problem for other reasons.
Marc Weisi I hear you, but I don’t think this is the last pandemic. If we keep printing money after multiple crises in succession, that will be a difficult hit to the dollar’s strength
“theres nothing in the pot” buddy lives in Puerto Rico to avoid paying taxes 🤣🤣🤣🤣🤣🤣
YES! Finally someone sees it
Do you enjoy paying taxes?
@Mike Lmaoo if the taxes went where they were supposed to it would be fine. But...
He was talking about the 'pot' of goods and services people produced by the private sector
@@ModeX9 We're stuck with too many useless and over priced government programs I don't see any politicians ever getting rid of
Watching this in 2022....Peter may have had a point
Just remember guys, it's all your fault that it isn't "the good old days" when people had savings and could pay for college out of pocket and all this...
This guy only tells half the story - 1940s people paid tax!!!!
The main reason college became so expensive was because the government started guaranteeing loans to everyone who wanted one. A responsible private lender would never have given out all these risky expensive loans for overpriced degrees. All it did was drive up costs.
@@jeremygaynor2410 Yep. The marginal rate was as high as 90%, IIRC. It also doesn't hurt when you're the only major manufacturing nation still standing after a literal world war.
Gavin Newsom: Because Trump isn’t stopping spread of Covid, I’m closing California, you can’t go to work or leave home.
The people: how are we going to pay our bills?
Gavin Newsom: Hold on, I’ll ask Trump.
The people: Hold my beer.
Gavin Newsom: oh and bars are closed 😬
Cali makes more money than other state what did the taxes go to then California ranks against countries in world economy
All Access Maybe if we stop paying federal taxes and use that on our own state. That way it would stop going to leeches in red states.
CRod_93 leaches are all in blue states buddy
rememeber when they predicted 2 million deaths... pepridge farms remembers
Hedge funds essentially don't pay taxes because of the carried interest loophole, yet get bailout money from taxpayers. That's perverse. Educate yourself about the capital interest loophole if you have no idea what I'm talking about.
Why would hedge funds get a bailout ?
Its not the Fed’’s role as government to offer or create a resource for “just any entity with employees.” Who takes advantage of what’s offered is not the point here. States should have that jurisdiction, not fed - thus spending would be throttled.
@@merrilldisney439 Yes. Good catch. Edited.
He’s giving out A LOT of game. 💯💯💯
He's not though. Its just jargon and misleading theory.
He's saying stuff that goes right over James Curry's head.
@@jcurry3school LOL! Do you happen to be one of the hedge fund folks taking government money that he is outing?
I did think it was really weird that as soon as the lockdown was announced places like the Cheesecake Factory came out and stated they wouldn’t be paying there rent the next month to their landlords. Also they started lay offs like many companies. It amazed me that such a big chain had no savings or anything to be able to survive and pay their own rent.
Most huge companies are ran under debt. Huge debt bubble bursting, no longer sustainable.
O they did not want to is the reason they did this. Business always does what's good for business by law.
Many businesses choose to distribute most of their profits, rather than keeping assets on the books. That way, if 100 people die in a fire at a Cheesecake Factory, they can just declare bankruptcy, reorganize, and their shareholders don’t really take a haircut.
but you, average consumer, should have had atleast 6 months saved up!
The cost of living is waaaaay higher now than the way people lived in the 30s. It’s extremely hard to build a savings on the average wage and privately owned businesses are also in the same boat with the cost of running a business.
When it comes to economics & finance Peter Schiff is one of the very best.
This guy has never met a problem that he doesn’t have the solution for. He also knows exactly how to avoid all problems before they are present. Brilliant.
The FED doesn't print money, they issue debt.
Same thing. They print debt.
The fed are bondholders, appears as an asset on their balance sheet. They don’t issue debt, the central government issues debt in the form of government bonds that the fed buys . The central government are than indebted to the fed. That is what he meant by the government not creating any money , they just use borrowed money to lend to others. Most of the money is credit .
Let the failures fail and bailout the people. New entrepreneurs will always produce products and new companies as long as there is a consumer that can buy. We bail out the people and let the rich fail. Incompetence must lose its wealth and power. For failure unaccountable Simply leads to more corruption and incompetence. Free markets work when corruption and fraud isn’t tolerated.
Yeah we treat our hero's like trash worse then trash actually, trash gets picked up. That's why Andrew Yang is not the president.
Give people money for nothing and they will vote for whomever gives them the most. It will end poorly no matter what in that circumstance because it then becomes a tool of the corrupt/fraudster politician. Government handing money out for nothing makes everybody poorer by stealing the purchasing power out of the pockets of everyone using the currency. So in effect you are robbing people just as much as you claim the corrupt wealthy are. Arguably you are doing it in an even more insidious way.
Brian isn’t The government already giving the money for nothing anyways, why not handed to the people? Is not like all of this you are talking about isn’t already happening. Who do these corps endorse? To those whom give them the most money. It’s already a tool for the corrupt politicians. Now, in a situation like we are living today. Wouldn’t make more sense to use all that money that was used to bailout all these corporations for the people that are hurting right now?
These corporations should have been prepared for another collapse, specially because it had already happened to them and we bailed them out. It’s like they didn’t want to learn their lesson and relied on the fact that we were going to bailed them out again, which we did, and took advantage just to get richer. It’s almost like we rewarded them for their greed while giving a huge middle finger to the working class.
Let them sink, fuck em. They knew what needed to be done to avoid another catastrophe and they looked the other way.
@@platoon1558 the government technically has nothing to actually give away. It is ultimately coming out of the value of all the money currently in supply. A la purchasing power. If you just create money without actually providing a service/good to throw into the pot then you are just destroying purchasing power which is ultimately what causes total government failure/collapse. We are going to have gigantic problems irregardless at this point. It is just a matter of do you live within your means now and break all these phoney politicians promises to get your vote... or do you kick the can hoping you arent the politician in charge at the time that gets destroyed when it all blows up. They can't let any large business fail anymore because it could take down the entire marketplace. We deserve everything that is coming to us given we live so far beyond our means in general.
Brian The damage is past done. There are really only three logical options for correction and moving forward. More of the same policies until a natural market correction, a New Great Depression, or use the tools that created this mess to recalibration the market back to a natural state and in a controlled manner.
So, the dude is sitting there pretending like the government can force you not to work, thus, not earn a penny for months, and not give you any compensation and telling you: you should have saved enough.
What if you're 22 and just started working? What if they decide to shut down for a year? Ridiculous.
Especially when you consider that a libertarian should just say: the government should not be able to tell you to close your business or to tell you to stay home
Exactly, he's living in a fantasy world
Conclusion: $ controls everything for the few ... The concern for everyone else's well being is an afterthought...and so history continues. Old news.
I haven't heard Mr. Schiff speak in ten years. The sky was falling then. He hasn't changed his tune.
Yeah and gold is going up fast, thank God I listened to him. =)
@Corona Pyrrhus I'm actually a fan of his. Hes brilliant.
I want to smoke weed with Joe Rogen.
Line up
Lol
He don't wanna smoke w you.
Everyone does haha
Pete “Peter”
"Did they actually say that? Did they actually say that?" Peter keeps talking. Joe: *deep sigh*
The "have's" vs the "have-not's" is gonna see the day of reckoning.
Well, all these people driving around in brand new cars and buying houses they can't afford will have to deal with it now.
I think Joe is feeling kind of guilty landing a $100 million deal during record unemployment and layoffs. At least he has a conscience about it.
Yea and he also lives in LA surrounded by insane amounts of homeless tent cities. It's a very weird disconnect. The wealth gap is not his fault but it is impossible to ignore.
he'll move to Texas and vote for the same things that made California a shithole and he'll never admit it, hell he jokes about it, but he and all the people fleeing WILL just succeed in turning Texas into Cali and then, 20 years later, they'll do it again somewhere else.
Did this guy just admit to receiving a stimulus while continuing to work and never needing a stimulus? Our government is corrupt as shit.
No, he said he didn't take it but saw that he was eligible to take it if he fudged his claim since the government wasn't vetting any claims under 2 million.
"Without bailouts, the United States would be like Venezuela." Most accurate comment ever.
coup d'etat much.
@Ana Blaque temp soution. eventually the s h i tttttt will hit the fan.
People don't like hearing this, but he is saying the harsh truth (nothing is free except maybe natural resources). Just let that sink in. US citizen will get dollars but will not produce goods and services, while countries like China will. This will strengthen their currency compared to yours (that is what he is explaining in a very obnoxious way)
Yea they’re getting free money right now but that’s because most of the country is shut down. Where are they supposed to work ? What he is saying is true but he’s not offering a viable solution to the problem that is present right now
Unfortunately the solution is likely to only mitigate some of it. Subsidized reshoring of critical goods manufacturers along with automation and training for those system maintainers. Additionally closing tax loopholes. I don’t necessarily agree on abolishing the minimum wage. And of course there should be no bailouts. Any existing solvent people remaining should be spurred away from working in successful businesses and into business-creation by lucrative incentive subsidies, if not all funded by existing capital funds. Unless people feel like starting a ww3 for the sake of paying of the massive debt via some gigantic reconstruction project
Natural Resources are free?!!! That type of thinking is what got us into this mess in the first place. Ever hear of the Western Industrial Complex?
@@keithmoriyama5421 I mean it is, Saudi Arabia, Norway, Russia, iran would have been totally different without oil, plus agriculture kind of depends on size and fertility of land etc.
@@tgc856 due to lack of preparation, there is no good solution. It is like you are in a examination hall and have not studied much, what can you do?. One healthy way for economy would be to use tax for welfare money, but people will definitely not like that.
Right now only thing that every country can do is weather the storm, and make good decisions in the future. So the next time some pandemic happens, debt and inflation is low and the system is strong.
Hey Rogan, you might not see this but I'm shootin' my shot: Please have Professor Richard Wolff on your show. You just had a Libertarian Economist and Wolff is a Marxist Economist, who can speak on matters of the economy just as well, but with a Socalist/Marxist lens. Please up vote if you want to see that perspective as well!
Got you brother
That would be interesting
Agreed.
socialism doesnt work - study history. it works in a textbook.
@@tdub25 great response. You sir, are an intellectual.
“When someone tries to lay a guilt trip on you for being successful, remember that your guilt is some politician's license to take what you worked for and give it to someone else who is more likely to vote for the politician who plays Santa Claus with your money.”
Thomas Sowell
@ThomasSowell 🐦
Your gay
Interesting how in the states the poor and middle class keep paying more taxes and the government gives it back to the ultra rich.
"I'll just pretend that society didn't facilitate my success."
his gay what? Hat? Scarf? Words? Actions? You say "your gay" but you didn't finish the possessive pronoun. Just curious as to what he had that was gay...oh, oh you meant "you're gay," correct? Your bad.
13.4% of $100 million is about $13.4 million
That’s how much he’ll save by moving to Texas
Rumor is the real number is 2x as much
If you tel people they can’t leave there homes you gotta pay or I’m gonna go out and survive that’s just facts
Yup, the countries that handled this pandemic the best paid it's citizens to stay home and let the scientist decide what to do next.
100 percetn right. If you stop or right to earn, stop our obligation to pay
James Alvarado yup! science > politics when it comes to this
Joe must have taken some extra test today, because he is... (*puts on Pacino voice from Heat*) TESTY!
Peter's been singing this tune about the dollar imploding and losing reserve currency status for at least 15 years now. He's right of course, but its amazing its been going on for so long.
This guy is 100% right when it comes to to the unemployment. I was making more to sit at home and felt dumb when i volunteered to go back to work. I took a paycut to work.
Peter is a national treasure...God be with him always..!
Joe needs to have on Richard Wolff. I would love to see them talk about the state of the economy as well
I second that. Richard Wolff destroyed peter shit on a debate not to long ago. He would be able to answer Joe's questions much better
Wolff is a socialist quack..
AMEN
Joshua Paulson He didn’t destroy him. Richard Wolff is of a Jewish descent. His grandfather was from a very wealthy Jewish family in Germany with deep connections to USSR politicians. It’s no secret that Marx, Lenin, and Wolff belong to the same tribe, which is the reason why he supports socialism. Not every group gets killed under socialism, just yours.
@@backup9911 Wolff doesn't really hide his background. However, his parents did flee Nazi Germany and Richard Wolff grew up in a poor household here in the states. His father lost everything.
So it kind of doesnt matter how rich or successful his German Jewish Grandfather was Pre-Holocaust.
In fact, you bringing up Jewishness as some sort of explanation for dismissing Wolff and/or Marxism says more about you than anything else really...
I DO blame the government and Wall St. for the bailouts because they are the SAME f'ing thing. That's the thing, Wall St. pulls the strings of government.
So is he paying his workers more for using their homes as an office.
mayhem Martin Doubtful. Homeowners generally can write off a portion of their mortgage. Aside from avoiding COVID exposure at the same time.
@Superior Trading yes but if hes preaching so much on what's right and wrong
He is still living in a gold standard world
Peter Schiff doesn’t seem to understand that inflation is the least of the Fed’s worries right now. We’re more at risk on the deflationary side which poses a larger threat with rates at the zero bound already. We have the tools to combat inflation, but fighting deflation today is very tricky.
Any advice or examples?
czcams.com/video/vAFtlgJNMCo/video.html
Damn, so you must have a net worth of $71 million since you clearly know more about economics than Peter.
@@blakewisniewski3750 😂😂😂😂😭😭
Because the dollar you or I have has already been spent and not by us. They replaced our purchasing power, making my dollar and your dollar valueless. Hense why they started buying up consumer product to try to inflate our gdp. Silly rabbit, money is tied to health insurance not oil, nor products. It's corruption at its finest and most people don't understand it. The issue began in 2014 so look two years prior and you'll be able to see the cause and effect. Spending money by giving healthcare industry doesn't make for inflation, and spend my dollar before me doesn't replace my buying power. Trust me you can't learn any of this in school but since you have all the time to spare go read and learn something. Stop handing money over to companies and stop give money to hospitals and let the normal process of of the economics well take it's place. Because politicians are taking money to campaign instead of telling people stop donating to them and donate to the people.
So it was ok to bail out the richest people and banks in 2008 but not the poor average Americans bc of inflation? 🤦♂️
Joe wants Peter to not interrupt him and yet Peter can't get out two sentences without Joe saying "but hold on"
This is why Joe wants a real convo in person
This guy is spot on unfortunately
This guy is the definition of being out of touch w regular society.
Captain Hindsight 🤔
@CT-8903 If your only skills are to work at Walmart or a picker in Amazon then you deserve to be on minimum wage.
Upskill and get paid better, simple
@@Hallyug Is that what the pplenthat want to keep all the money tell you? Way to be brainwashed.
@@Hallyug if everybody did that then Wal Mart and Amazon wouldn't continue to exist
@@JacobC479 but not "everybody" will do that and there will ALWAYS be someone willing to work these jobs. This is exactly why they will always exist
financial debt was a premeditated, created and enforced system. This ISN’T 1940 Peter. How many MILLIONS of people now live paycheck to paycheck because it’s NOT the cost of living like 1940. This guy is grossly not rational
So communism or a monarchy is a better system is what your saying? Criticize the system all you want, its the best system so far in human history and Peter is just explaining his views on how to improve the system.
Disagree, still many ppl saves alot of money for 20yrs since college if they are frugal, spend hundreds on wknd, vacation, etc..step by step will save wealth
Walker Meiner Peter can talk about improving all he wants. He can dance for all I care. His personal stake in the current US affairs is of no importance at present time. Who is incumbent to make the right decisions is Congress + Trump. Together they need (yes need, bc it’s far beyond imperative) to act accordingly to help the millions of Americans cut off at the knees by the economic nosedive we took and are still tailspinning in. You don’t get to just shut millions of people out of their jobs and tell them to just go figure it out. There’s accountability and it demands a response to alleviate it. Period
P Ch see this the short sightedness of people. You say that like it’s an all encompassing statement covering all those shut out from work by covid. Go talk to a small gym owner or bar owner who sunk every nickel they had into the place and were living on the fruits of their business, and now it’s curtains for them You really sound so ignorant by saying it’s people that don’t manage money right that are to blame right now for their financial hardships
I really like this guy but remember he has a GOLD company. With a grain of salt
He owns his own gold company, Shiff gold I believe. So, him saying that there is going to be a huge economic collapse needs to be taken with a grain of salt.
Just means hes smart and sees the collapse of currency coming
I agree he’s smart. Just saying that when someone does something for a living you can’t just take their word for everything. He Could be playing it up a bit for business is all I’m saying
Lol I disagree on that.... That's a so so argument... I always hear it and it depends on the person. I know a lot of successful people that sell stuff and they won't even being it up unless u ask them...
Krisztian Gagyi ok, don’t take what he has to say with a grain of salt. Just blindly follow every word he says. You guys don’t understand what the phrase “ take it with a grain of salt” means ? Not sure how you can disagree lol
Around 23 minute mark until end - this guy gets it
This mutha speaks truth and that's why they won't listen...
Checking in summer 2022 - PETER WAS RIGHT!!!
Today inflation is killing us...Peter called it again