Fed Bets the Farm on Transitory Inflation – Ep 715
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 16 July 2021
⏱️ 72 minutes
🧾️ Download transcript
Summary
* Government data says inflation worse than the 80s; real data says inflation already worse than the 70s.
* Hypocritical Republicans criticize Biden for the same policies they pushed for under Trump.
* Jerome Powell claims economy is great, but it needs the same amount of stimulus as when it was crashing.
* Fed claims to have the tools to fight inflation if it gets too high, but not using them now proves they don’t.
* Powell admits people aren’t working because they’re being paid not to.
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Transcript
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| 0:00.0 | The Peter Schiff Show |
| 0:07.0 | Today's episode of the Peter Schiff Show Podcast is sponsored by Bambi. |
| 0:14.0 | HR manager salaries ain't cheap. |
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| 0:21.0 | So go to bambi.com slash gold to schedule a free HR audit. |
| 0:27.0 | And the podcast is also sponsored by Raycon. |
| 0:31.0 | Get Chris Powerful Beats at half the price of other premium audio brands. |
| 0:36.7 | Right now Raycon is offering you 15% off all their products. |
| 0:41.3 | And here's all you've got to do to get the deal. |
| 0:44.6 | Go to birecon.com slash gold. |
| 0:48.1 | Well when I recorded my last podcast on Wednesday morning, it was right after we got the release |
| 0:56.2 | of the much worse than expected June producer price numbers. |
| 1:02.6 | But I hadn't had a chance to comment on Jerome Powell's congressional testimony that took |
| 1:09.8 | place later that day. |
| 1:12.8 | In fact yesterday he finished up his semi annual report to Congress by also testifying |
| 1:21.6 | in front of the US Senate. |
| 1:23.0 | So I am going to spend the majority of today's podcast going over the highlights or really |
| 1:30.2 | the low lights of this two day testimony by Powell where he tried to convince everybody |
| 1:37.4 | that everything is great and there's nothing to worry about. |
| 1:41.2 | And he did it with a straight face, which was not an easy task considering the amount |
| 1:47.8 | of BS that he was required to constantly put out in order to put lipstick on this |
| 1:55.9 | pig of an economy and not even so much the economy that's the pig, but the monetary |
... |
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