Fed’s Credibility Is Transitory, Not Inflation – Ep 750

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 13 November 2021

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* CPI data heavily contradicts Fed’s transitory inflation narrative.
* Reagan was more popular during a recession than Biden is during this “booming” economy.
* The government has too much money on the line not to lie about inflation.
* Media’s bias taints their inflation reporting.
* Federal Reserve can print money, but they can’t print stuff.
* Biden’s Build Back Better plan would have even Keynes rolling in his grave.
* Biden considers releasing US strategic oil reserves to China.
* Consumer sentiment plunges.
* Gold price surges.
* Fed won’t try to fight inflation because it will reveal their weak position.
* Fed’s policy: Speak loudly when you have no stick.
* Falling dollar will be the next domino to fall.
* Record number of Americans tell their employer to take job and shove it.
* Bitcoin whales conning institutions and bribing politicians.

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Transcript

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0:00.0	The Peter Ships Show.
0:09.1	Today's podcast is sponsored by NetSuite, the business management software that handles
0:14.1	every aspect of your business in an easy to use cloud platform.
0:18.4	NetSuite is offering a what-of-a-kind financing program, but only for those ready to switch
0:22.6	today.
0:23.6	Go to NetSuite.com slash goal.
0:26.0	The podcast is also sponsored by a VAS.
0:28.8	A VAS new all-in-one solution of VAS.
0:31.3	One helps you take control of your safety and privacy online through a range of features.
0:37.4	Learn more about a VAS.
0:38.5	At VAS.com.
0:40.3	When I recorded my last podcast on Tuesday evening, earlier that day, the government released
0:46.8	the producer price numbers for October.
0:51.3	We got an increase of 0.6, 10th of 1%, which was pretty much in line with estimates.
0:59.2	The year-over-year increase was 8.6, which was a record high going back to the beginning
1:07.1	of this series, not really sure when they started keeping track of it in this matter, but
1:12.8	it doesn't have that long a history.
1:14.8	But that was the highest in whatever the history was.
1:18.2	But I also pointed out that the numbers were worse because if you annualize the first
1:23.6	10 months of the year, producer prices were increasing at a 10% clip, which is even higher
1:31.8	than that 8.6%.
1:33.8	But more importantly, I warned that consumers could not expect producers to basically keep
	...

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