Peter Schiff: "DEVASTATING FINANCIAL CRISIS" Unfolds as Dollar & Bond Market Collapse, Oil Soars <



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https://youtu.be/l_5ie4BlfVI?si=FxgpyVfktZ4JocjN



macro view first and the state of the US economy today. President Trump has repeatedly described the US economy as experiencing a golden age, citing record 0:59 stock market highs, high oil and gas production and successful tariff policies. However, this narrative 1:06 contrasts with reports of job losses, rising inflation, and slowing wage growth. Where are we today? And is the 1:14 US economy as strong as the Trump administration claims it is? Well, you know, the golden age may be 1:20 limited to gold itself. Uh because gold is gold has done very well uh since 1:25 Trump's been been president. But it's nothing like, you know, the Gilded Age, 1:31 which is what that, you know, would evoke,great under Biden, but it was even worse. We barely created any jobs. I think in 2024 maybe there was a million 2:32 jobs for the whole year, but 2025 it was like a 100,000 something. I mean just a 2:37 tenth. So it wasn't a boom in job creation. Uh the stock market is up, but if you 2:44 measure the stock market, you know, from when Trump took office to now and go 2:49 back and see how it did under Biden, it's it's gone up less. So he, you know, Trump wants to talk about this booming 2:55 stock market. Well, big deal. I mean, it boomed even more when Biden was president. He was supposedly the worst 3:01 president ever, and Trump's the best. And Trump had Biden had the worst economy ever, and he's got the best. 3:09 Even though we have a weaker labor market, a weaker GDP growth and un 3:14 inflation rather is rising and 2026 3:21 I think the CPI will rise more in this year than in every year that Biden was 3:27 president except maybe one. Butgreat under Biden, but it was even worse. We barely created any jobs. I think in 2024 maybe there was a million 2:32 jobs for the whole year, but 2025 it was like a 100,000 something. I mean just a 2:37 tenth. So it wasn't a boom in job creation. Uh the stock market is up, but if you 2:44 measure the stock market, you know, from when Trump took office to now and go 2:49 back and see how it did under Biden, it's it's gone up less. So he, you know, Trump wants to talk about this booming 2:55 stock market. Well, big deal. I mean, it boomed even more when Biden was president. He was supposedly the worst 3:01 president ever, and Trump's the best. And Trump had Biden had the worst economy ever, and he's got the best. 3:09 Even though we have a weaker labor market, a weaker GDP growth and un 3:14 inflation rather is rising and 2026 3:21 I think the CPI will rise more in this year than in every year that Biden was 3:27inflation rather is rising and 2026 3:21 I think the CPI will rise more in this year than in every year that Biden was 3:27 president except maybe one. But it may even beat the top year under 3:32 Biden. So inflation isn't conquered either. Inflation is here. It's here to 3:38 stay. And I think that by the end of Trump's full term, the total increase in 3:45 consumer prices will likely exceed the increase under Biden. So inflation is going to get worse, not not better. And 3:52 the deficit spending u Trump was critical and so were a lot of Republicans correctly, you know, of 3:59 the deficit spending under Biden. They blamed that deficit spending for the inflation and it was certainly partially 4:05 responsible but so was the deficit spending of Trump that that that Biden inherited. 4:11 Uh and a lot of it was the Fed and the Fed pursued the same inflationary policies under both Trump and Biden. 4:19 Um but um 4:25 if we endun-with avanwarse inflation president except maybe one. But it may