A Recession Worse Than 2008? - How To Survive & Thrive The Next Economic Crisis | Peter Schiff PT 2

Tom Bilyeu's Impact Theory

Impact Theory

News Commentary, News, Business

4.7 • 5.2K Ratings

🗓️ 30 August 2023

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

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Summary

The second part of this conversation with Peter Schiff is just as packed with mind-blowing insights as part one. It’s hard to see what’s actually happening when you’re in the middle of it, and that’s exactly why I bring experts with a wide range of experiences and insights to the show. A lot of you are in the crossroads and feeling the pain of how much higher your grocery bill is for the same amount of food. If you were on track with a decent savings account a couple of years ago (especially if you took advantage of the stimulus money that got us where we are now… we’ll talk about that today) you noticed your savings are virtually non-existent now. Peter has not only accurately predicted the 2008 financial collapse, he’s also been spot on in his predictions of the stock market performance, including gold, commodities, and the mighty dollar. Peter Schiff is breaking down for us the mind-games the government uses with data to ease the pain we all know to be a rapidly declining standard of living and exposing how the Fed’s inflation strategies are destroying the American economy. How anti-discrimination laws create more prejudice What the 2008 subprime market reveals about opportunities today Increasing rates like the Fed continues to do simply doesn’t work Peter exposes the big inflation bailout no one wants to talk about This is Impact Theory and this episode is about thinking through not just how to survive the next economic crisis, but how to get ahead of most and actually thrive. Follow Peter Schiff: Website: https://schiffradio.com/ YouTube: https://www.youtube.com/@peterschiff Twitter: https://twitter.com/PeterSchiff Instagram: https://www.instagram.com/peterschiff SPONSORS: Get 5 free AG1 Travel Packs and a FREE 1 year supply of Vitamin D with your first purchase at https://bit.ly/AG1Impact. Right now, Kajabi is offering a 30-day free trial to start your own business if you go to https://bit.ly/Kajabi-Impact. Head to www.insidetracker.com and use code “IMPACTTHEORY” to get 20% off! Learn a new language and get 55% off at https://bit.ly/BabbelImpact. Try NordVPN risk-free with a 30-day money-back guarantee by going to https://bit.ly/NordVPNImpact Give online therapy a try at https://bit.ly/BetterhelpImpact and get on your way to being your best self. Go to https://bit.ly/PlungeImpact and use code IMPACT to get $150 off your incredible cold plunge tub today. ***Are You Ready for EXTRA Impact?*** If you’re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you. Want to transform your health, sharpen your mindset, improve your relationship, or conquer the business world? This is your epicenter of greatness. This is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day. * New episodes delivered ad-free * Unlock the gates to a treasure trove of wisdom from inspiring guests like Andrew Huberman, Mel Robbins, Hal Elrod, Matthew McConaughey, and many, many, more * Exclusive access to Tom’s AMAs, keynote speeches, and suggestions from his personal reading list * You’ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more: *Legendary Mindset: Mindset & Self-Improvement *Money Mindset: Business & Finance *Relationship Theory: Relationships *Health Theory: Mental & Physical Health *Power Ups: Weekly Doses of Short Motivational Quotes *****Subscribe on Apple Podcasts: https://apple.co/3PCvJaz***** Subscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back to Part 2 with Peter Schiff. As I was saying in the first part, during periods of
0:06.3	economic uncertainty like what we're all living through right now, it is up to each of us as individuals
0:11.6	to take that situation head on. You have to come up with a thesis for how you're going to navigate
0:16.6	this period well. The problem is most people get overwhelmed and they shut down. I am here
0:21.8	to beg of you, not to let that be you. The intelligent path forward is always going to be a
0:26.9	combination of information and action. And speaking of taking action, if you haven't already,
0:32.6	be sure to subscribe to our ad-free feed where you're going to get access to bonus material you're not
0:39.0	going to find anywhere else and some deep archives that also is only available on the ad-free feed.
0:44.4	And now, without further ado, I bring you Peter Schiff, the man who believes the economy is
0:49.3	headed towards a cliff, that we can all get off the bus before the inevitable crash.
0:53.7	I'm a huge believer that, as Kobe Bryant said, you can get so, or sorry, he said, booze don't block dunks. And my interpretation of that is that you can get so good at something that no matter how much people hate you, want you to lose, they just can't stop you because you can outperform them. But to talk about discrimination, I think we really have to separate.
1:12.8	And this is something I've heard Jordan Peterson talk about.
1:14.8	And it's interesting.
1:15.6	But I think the right way to think about it is you have to, it's almost a problem that they have the same words for when you're discriminating versus what you're discriminating based on what you like when
1:28.7	you're talking about choosing a sexual partner or whatever.
1:32.0	I think everybody has a type.
1:33.4	There's just something that you're into the most basic categorization, be male,
1:36.7	female, but even then within that, it's going to go down a list of for whatever weird
1:41.7	reason, like you're into this thing.
1:47.0	So that I get. But when it is systemic discrimination and it is a uh a larger societal echo of what i call school of fish so
1:57.8	it's inevitable that um the way the human animal is we are a tribal creature, we're a
2:03.7	social creature. So you end up going with people that you identify with, which often takes on
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