The 'Greatest Economy Ever' Is Pure Fiction... Here's the Proof

Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction. 📢 Please Support Our Sponsors: - My Patriot Supply. Save almost $300 on the complete Winter Prep Bundle, with emergency food, heat, backup power and light. Get yours while it's still available at https://preparewithpeter.com Consumers are more worried about their finances than at any point in 75 years. Washington calls it a boom. Peter Schiff takes apart the claim that America has the greatest economy in history. The University of Michigan's current conditions index just fell to an all-time low in a survey that dates to 1951. Households were less worried during the Cuban missile crisis, the 1970s gas lines, 9/11, the 2008 financial crisis, COVID and the 40-year inflation high of 2022 than they are today. Loan delinquencies are the highest since 2010, and the biggest wealth gains are going to households headed by someone 75 or older, because the same policies that raise the cost of living also inflate the stocks they own. Peter argues the weak economy explains the week's politics: a diesel deal with Russia three weeks after a law authorizing 100% tariffs on buyers of Russian energy, a pledge not to bomb Iran until after the midterms, and a committee of Trump appointees investigating Fed governor Lisa Cook. He also covers Fed minutes in which officials concede policy is not restrictive, a 30-year Treasury yield that reached 5.73%, why 7.4% mortgages are a return to normal, the week in gold, silver and Bitcoin, and why barring Microsoft from sponsoring foreign workers sends those jobs, taxes and spending overseas. Chapters: 00:00 Record Low Confidence 01:03 Trump Boom Claims 03:39 Michigan Sentiment Shock 06:58 75 Years of Crises 11:19 Great Economy Fiction 11:36 Winter Prep Sponsor 12:46 Polls and Debt Stress 16:19 Who Benefits From Boom 17:54 Russia Diesel Flip Flop 22:29 Iran Timing and Markets 24:16 Rename AI to SI 26:06 Lisa Cook Probe Committee 28:51 Mortgage Fraud Politics 30:53 Fed Minutes More Hikes 32:02 Bond Yields New Normal 33:05 Bitcoin Real Estate Debate 36:40 High Debt High Rates 38:15 Weekly Market Recap 39:03 Gold Silver Buy Zone 40:27 Bitcoin Anniversary Reality 42:50 Treasury Yields Reality Check 44:43 H1B Visa Backlash 46:30 Who Owns The Job 52:42 Remote Hiring Consequences 56:29 Wrap Up And Sign Off Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news #PeterSchiffShow #Inflation #Economy Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai Privacy & Opt-Out: https://redcircle.com/privacy