Peter Schiff: Bidenomics Is a Disaster
https://schiffgold.com/interviews/peter-schiff-bidenomics-is-a-disaster/Peter Schiff recently appeared on Real America with Dan Hall to talk about Bidenomics and the impact of inflation. Peter said Bidenomics is a disaster and price inflation isn’t beat. In fact, it will continue to increase as long as the government keeps borrowing and spending.
Dan opened the interview pointing out that despite cooling CPI, prices still seem to be rising in the real world. Peter pointed out that CPI was deliberately redesigned in the 1990s to understate price inflation.
I think it’s more accurate to double whatever the official rate is, and that’s probably a close estimate of the actual rate. So, if we’re down to 3.1, that’s probably 6.2.”
Peter went on to explain that the only reason the official CPI fell from just over 9% to 3% was a collapse in the price of oil as President Biden raided the strategic oil reserve. Meanwhile, there was a big rise in the dollar on foreign exchange markets.
Bidenomics is a failure.
Peter said it’s just going to get worse as time goes by as inflation accelerates and the economy tanks.
Dan brought up a recent tweet Peter posted.
Since #UPS drivers will soon be earning $170k per year, it doesn't make sense for most people to borrow huge amounts of money to spend four years in college, for starting salaries of around $50k, when they can earn over three times as much right out of high school driving trucks.
— Peter Schiff (@PeterSchiff) August 11, 2023
Peter reiterated that education these days is a racket.
The vast majority would be better off skipping college and just getting a job. And if you want to learn, you’ve got the internet, you’ve got AI. You can teach yourself with the help of all this technology. You don’t need these overpaid teachers’ unions and universities and all the money they’re spending.”
Peter said the reason the educational system got so bloated was government involvement.
Education is severe inflated due to government involved. The government gets involves, it is the curse.
