The Peter Schiff Show Podcast Data of the Dead - Ep 988
Nov 1, 2024
The discussion dives deep into recent economic data, revealing troubling GDP growth forecasts and inflation challenges. Peter criticizes government spending and examines the job market's complexities, including insights from the latest jobs report. There's a lively segment on Bitcoin and a fresh music announcement that adds some flair. Additionally, the chat reflects on foundational republican principles and the interplay between financial interests and politics, emphasizing the need for preparation amidst economic uncertainty.
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Weak Economy Masked by Inflation
- The US economy is weak, likely in a stagflationary recession.
- This is masked by inflated GDP growth and consumer spending driven by higher prices, not real growth.
Job Cuts and Inflationary Spending
- Challenger job cut report shows significant job losses, mainly higher-paying ones.
- Personal income and spending data reveal increased spending due to inflation, not wealth.
PCE Understates True Inflation
- The PCE, the Fed's preferred inflation measure, understates true inflation.
- Despite the Fed's 2% target, core PCE remains high, far from target, driven by rising costs.