My Take on Joe Rogan Redo – Ep. 279
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 26 August 2017
⏱️ 47 minutes
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Summary
I appeared the Joe Rogan Experience Podcast while on my trip this week to the West Coast. I first appeared on his show about 3 years ago, and since then the popularity of his podcast has really exploded. A couple of million have already listened to my most recent appearance. I was on for 3 hours and I did almost all of the talking.
Huge Reaction to Minimum Wage Discussion
If you look at the YouTube video you'll see a tremendous amount of reactions, both positive and negative, which is a far greater reaction than the show usually gets. I could have set the record on thumbs down but I got more than 3 times the number of thumbs up. If you read the comments, many people are attacking me for being "mean" because I am against the minimum wage.
Why Am I Against the Minimum Wage?
This is the typical liberal reaction when they encounter someone who disagrees with the liberal agenda. They think I am out of touch, that I don't understand, I'm heartless, and they get so upset at me because they think I am a really bad guy. After all, only a really bad guy would want to exploit poor people by paying low wages. It would not dawn on them to think about why I am against the minimum wage.
Against Government Mandated Unemployment
I am not against people earning money; I am against mandated unemployment. I am against the government preventing people from acquiring the skills that would enable them to earn a lot more than the minimum wage in the future. Liberals don't consider any consequences - it's all about how good they feel about themselves. "Who actually cares about the consequences of this law, just as long as I can feel morally superior to anyone who doesn't support the minimum wage law?"
For Entry-Level Jobs that Provide Value to Employer
I did explain that, but apparently it went right over their heads. I am trying to explain that the minimum wage law leads to more unemployment because it causes people with low skills to lose the opportunity to move up in the workforce through entry-level jobs that provide value for the employer.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:09.3 | I have been out in California all week and have not had time to do a podcast until the |
| 0:15.8 | Sapvenoon. |
| 0:16.8 | So, I apologize to those of you who have been waiting for a podcast all week and they're |
| 0:21.2 | having to wait until Friday to finally get one. |
| 0:25.9 | So we did have an interesting day in the foreign exchange markets today. |
| 0:30.1 | The dollars sold off. |
| 0:31.4 | The dollar index closed at its weakest level of the year. |
| 0:37.3 | I think the last I saw is about $92.54 on the dollar index. |
| 0:42.1 | The low trade 92.42 on the intraday. |
| 0:48.1 | The euro which of course is the biggest currency in the dollar index closed at $1.19 in a quarter. |
| 0:54.4 | This is the highest price in a couple of years but it's not just euro strength. |
| 0:59.3 | This is across the board US dollar weakness. |
| 1:03.6 | And remember I talked about this on my podcast but the most crowded trade when this year |
| 1:10.2 | began was along the US dollar. |
| 1:14.4 | Everybody was along the dollar. |
| 1:15.4 | They were short. |
| 1:16.4 | Every currency under the planet and all of those currencies are rising. |
| 1:20.4 | This is the weakest the dollar has started a year since 1985. |
| 1:25.4 | The mainstream on Wall Street couldn't have been more wrong if they tried. |
| 1:31.4 | And again remember the most crowded trade a year earlier was short gold when gold was |
| 1:36.9 | at the absolute low. |
... |
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