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The Peter Schiff Show Podcast

Trade Deficits Make America Poorer Not Richer – Ep.226

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, News, Investing, Business News

4.65.9K Ratings

🗓️ 8 February 2017

⏱️ 32 minutes

🧾️ Download transcript

Summary


* I will be in Orlando tomorrow for the Money Show
* I will be there Wednesday and Thursday returning Friday
* I have several speaking events, a couple of workshops
* If you're in the Orlando area, come by, it's free to register online
* You can pick up your badge on site
* We'll have a booth in the exhibit all, you can come by and meet some EuroPac employees
* We look forward to seeing clients and listeners
* Last week I spoke about President Trump and his weak dollar policy
* He thinks the dollar is too low, the euro is too low, the yen is too low, the Chinese yuan is too low
*  Over the weekend Germany's finance minister came out and agreed with President Trump
* He agrees that the euro is too low
* We know that the Bundesbank does not approve of the easy money policies, the QE, the negative interest rates that Draghi and the ECB have force upon them
* I believe that rising German opposition as well as rising inflation both in Germany and throughout the European union will ultimately force the ECB to abandon their monetary policy
* Maybe even at the same time that the Federal Reserve is finally admitting that they're about to ease again
* We got the jobs numbers on Friday, I did a video blog about it

* To me, the numbers seem troubling for the Fed because even though we created better than 200,000 jobs the number of people who rejoined the workforce, who now want jobs jumped dramatically
* So you have a lot of people looking for jobs; the jobs aren't there
* So the unemployment rate is going to come up
* There will be wage pressures, and that is going to push the Fed in an easing direction
* In fact, we got some numbers that came out today on Consumer Credit
* Credit card debt grew by the smallest amount since 2013, which is a good thing
* We don't want consumers taking on credit, it's bad economically to borrow money to consume
* I really made that point in my book, "How an Economy Grows and Why it Crashes"
* If you haven't read it, pick up a copy at schiffbooks.com
* The point is, it's good that consumers are taking on less debt
* Of course, if you're a retailer, and you're depending on those indebted consumers to go deeper into debt to buy your stuff, that's a bad sign
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Transcript

Click on a timestamp to play from that location

0:00.0

The Peter Ships Show.

0:09.4

Quick announcement at the beginning of this podcast.

0:11.7

I will be in Orlando.

0:13.2

I'm flying up there tomorrow.

0:14.4

I'll be there for Wednesday, Thursday coming back Friday.

0:19.2

I have several speaking events.

0:21.4

I've got a couple of workshops.

0:23.2

So if you are in the Orlando area, come by the Money Show.

0:27.8

You can register online.

0:28.8

It's free.

0:29.8

You can pick up your badge when you're there.

0:31.8

Even if you're not in the area, you know,

0:33.5

you can fly down.

0:34.4

There's a lot of flights coming down to Orlando,

0:36.3

not a bad place to be in the winter time.

0:39.0

We will have a booth in the exhibit hall.

0:41.0

There'll be some EuroPack employees there.

0:43.2

So look forward to seeing clients or listeners to my podcasts.

0:48.8

You know, last week, I spoke about Donald Trump

0:52.4

and his basic week dollar policy,

0:55.5

talking about how the Euro is too low and the yen is too low.

0:58.8

And we know he thinks that Chinese you want is too low.

...

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