The Fed Makes Its Biggest Mistake Yet - Ep 976
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 24 August 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
Market Turmoil, Political Drama, and Economic Forecasts
Peter delves into a tumultuous week in the markets and politics. He covers key events including Jerome Powell's Jackson Hole speech and its implications for interest rate cuts, the Democratic National Convention, and Robert Kennedy Jr.'s decision to drop out and endorse Donald Trump. Peter argues that the Federal Reserve is pivoting from fighting inflation to addressing rising unemployment, critiques the state of unemployment statistics and job market data, and discusses the potential for a gold price boom amidst a weakening dollar. Additionally, Peter offers in-depth commentary on the flaws in government spending and social security, the misrepresentations in political narratives, and explores future economic outlooks. He closes with a call to invest in gold and gold stocks.
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Transcript
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| 0:00.0 | The Peter Shipp Show. |
| 0:09.0 | Today's podcast is sponsored by Net Suite, the easy toto-use cloud-based business management |
| 0:13.8 | software for every aspect of your business. By popular demand NetSuite has |
| 0:18.3 | extended its one-of-a-kind flexible finance program for a few more weeks. |
| 0:22.8 | Head to NetSuite.com slash gold. |
| 0:25.7 | Well, we've had a hell of a week. |
| 0:28.4 | A lot to talk about on today's podcast. |
| 0:31.3 | We have the Powell Jackson Hole speech from earlier this |
| 0:36.1 | morning we've got the Democratic National Convention which took place |
| 0:41.2 | pretty much all week, came to a end on Thursday. |
| 0:47.0 | You know, I unfortunately I sat through much of that fiasco there, |
| 0:52.8 | very embarrassing, I think, as an American |
| 0:56.6 | having to witness that. |
| 0:58.9 | And then today, we had the decision by Robert Kennedy Jr to basically drop out, pause his campaign and endorse Donald Trump and in fact just before I sat down to do this podcast I was listening |
| 1:16.2 | to the rally in Arizona where Donald Trump and Robert Kennedy Jr. |
| 1:22.5 | appeared together, massive crowds, lots of applause. |
| 1:27.3 | And so I'm going to get to that in a bit, |
| 1:30.0 | but I want to start with the Powell Jackson Hole speech, |
| 1:35.8 | which is exactly the speech that I had been anticipating |
| 1:40.4 | that he was going to give. |
| 1:41.8 | It was the concession speech. |
| 1:44.0 | Really, it was a surrender. |
... |
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