Welcome to the Megan Kelly Show, your home for open, honest and provocative conversations.

Hey everyone, I'm Megan Kelly. Welcome to the Megan Kelly Show. We've got a great show

for you today with a big focus on the economy. Have you noticed your grocery store bills

going up? Are you finding items or taking longer to ship to you than they usually do? If

you like me are not an expert when it comes to our economy, you're going to be in luck

today because you may be feeling confused about what inflation, the supply chain and even

the stock market or jobs report I have to do with your everyday life. And we have got

it all figured out for you today or at least our guest does. And he's going to walk us

through it. Peter Schiff is a chief economist and global strategist at Euro Pacific Capital

and host of the Peter Shiff show. He's here with us today and he's fired up about Biden's

economy, the attempts at a COVID recovery and more and is used to speaking sense in a

field that is overwhelming at times for people like me. Peter, great to have you here.

Thank you for being here. Oh my pleasure, Megan. Thanks for having me on your program.

Okay, so let's assume that you're not on CNBC. Assume you're dealing with somebody

who has an eighth grade understanding of the economy and let's go from there. Okay,

don't feel like you're you're being pejorative by explaining the most simple terms. Okay.

Like I understand the Fed pretty much, but that's pretty much all I understand. I understand

generally what inflation is in the supply chain, but let's just not assume anything. What

do you see is the number one issue facing our economy right now because we just got a

good jobs report on employment is relatively low and the Biden administration is celebrating

this as a big win. Well, I certainly think inflation is a big issue and you know, a lot of

people on CNBC don't understand what inflation is. A lot of people think they know what inflation

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