The Peter Schiff Show Podcast The Government Shutdown Hides a Weak Economy Trump Can’t Fix - Ep 1044
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Oct 4, 2025 The ongoing government shutdown reveals serious flaws in the economy and delays crucial job reports. Peter Schiff critiques Trump's drug pricing plans, calling them misleading, and warns against the coercive nature of tariff policies. He dives into the recent surges in gold and silver markets as true indicators of value amidst inflation. Additionally, he highlights the pitfalls of proposed movie tariffs and the misinterpretation of how outsourcing works, emphasizing that reducing regulatory burdens could be a more effective solution.
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Recording While Injured
- Peter Schiff described injuring his toe and recording the podcast despite the pain.
- He framed the episode as “playing hurt” while warning listeners about occasional grimaces.
Shutdown Masks Weak Jobs Data
- The government shutdown delayed the official jobs report because Bureau of Labor Statistics staff were furloughed.
- Schiff argues the shutdown hides a weak jobs market the administration would rather not show.
Private Payrolls Show Contraction
- ADP reported a surprising loss of 32,000 jobs in September and revised August to negative.
- Schiff suggests the official non-farm payrolls likely would have been much worse than expected.