Tariffs: Not the Turkey We Want This Thanksgiving - Ep 994
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 27 November 2024
⏱️ 61 minutes
🧾️ Download transcript
Summary
Peter Schiff discusses Thanksgiving's capitalist roots, the Pilgrims' failed socialism, tariffs' economic impact, and recent market trends.
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Peter Schiff's Thanksgiving special podcast from St. Barths offers a compelling narrative on the history and lessons of Thanksgiving, celebrating capitalism over socialism. Drawing parallels between the early Pilgrims' failed communal experiment and Karl Marx's theories, Schiff emphasizes the pivotal role of individual incentives and free markets. He transitions into discussing current economic data, trade deficits, and the impact of tariffs under the Trump administration, debunking common economic misconceptions. Schiff argues that tariffs harm the US economy more than they benefit it and critiques government monetary policies, predicting economic challenges ahead. He concludes with reflections on the resilience of human nature and the enduring principles of capitalism.
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00:00 Introduction
02:24 Thanksgiving and Capitalism
05:14 The Pilgrims' Experiment with Socialism
09:28 The Shift to Capitalism and Its Success
12:22 Modern Implications of Pilgrims' Lessons
18:38 Gold Market and Global Economy
26:19 Impact of Tariffs on the Dollar
30:16 Final Thoughts Before Break
32:11 Debunking Tariffs and the Strong Dollar Myth
33:49 The Impact of Tariffs on Trade Deficit
36:38 Manufacturing Sector and Economic Weakness
40:48 Tariffs and Inflation: A Misunderstood Relationship
44:17 Global Trade and Comparative Advantage
49:37 Economic Data and Market Reactions
57:35 Conclusion and Final Thoughts
#capitalism #Tariffs #Thanksgiving
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Transcript
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| 0:00.0 | I make no friends in the pits and you take no prisoners. |
| 0:05.1 | One minute, you're up half a million and soybeans and the next boom. |
| 0:07.5 | Your kids don't go to college and they've repossessed your vent. |
| 0:09.4 | Are you with me? |
| 0:10.1 | The revolution starts now. |
| 0:12.4 | Starts now. |
| 0:13.7 | We have to pass the bill so that you can find out what is in it. |
| 0:18.0 | Turn those machines back on. |
| 0:20.3 | You are about to enter The Peter Schiff Show. |
| 0:23.9 | Show me the money! |
| 0:25.7 | If we lose freedom here, there's no place to escape to. |
| 0:28.4 | This is the last stand on Earth. |
| 0:29.7 | The Peter Schiff Show is on. |
| 0:31.7 | I don't know when they decided that they wanted to make a virtue out of selfishness. |
| 0:35.7 | Your money. |
| 0:36.8 | Your stories. Your freedom. the Peter Schiff's show. |
| 0:56.8 | Today's podcast is sponsored by Indeed. |
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| 1:10.5 | Terms and conditions apply. |
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