th-cam.com/video/KIsgcaTt0MA/w-d-xo.html 9 11 was war !! other issues in volved .. decades pre and to this day.. world wide. 8 min mark freeze list ther and more will be put in limelight politicans .. some you already do not see .metals to china so fast after 9 11 like a fst virus .. travelling the world.. or the extra special rare earths side of ISS. white swan verse black swan.. the egg broke open.goodluck with the hatch...
Good speech Peter, I am impressed. Peter Schiff spoke for approximately 30 minutes without a teleprompter or from reading a piece a paper. He knows what he's talking about .People made fun of him before the last major financial crisis in September-October 2008, and he was proven right. People should pay attention to what he is saying here.
Jorge Gomez I'll give it to him that it's hard to exactly predict these things, but he does go outside the ballpark and also I think it's part of his shtick to make money. I don't think he has any malevolent intentions though.
most people including me, were making fun of him, because he was making forecasts about next financial crisis every few months, so there is no way he fails with his "forecast". but this is analysis is more fact-based
@@Inception1338 I wonder what that would have to do with him?.... do you know your whole past. Kinda crazy to go down that hole.... he is only giving advice you have choice not to watch...just saying... be well my friend life is hard enough.
The American economy has collapsed from 2008 and has never recovered. It was simply propped up or stimulated with money. Money that didn't improve productive capacity, infrastructure or the real economy. It simply restored households confidence and bailed out the banks that helped to cause the crash. Furthermore, Automation and Chinese trade hegemony has been simultaneously shafting the American (Western Hemisphere) economy for years resulting in wide-scale loss of jobs, hence loss of household income.If theres no income, there'll be no financing of the trillions of dollars of credit card, mortgage debt and motor vehicle debt incurred by households and as such banks will slowly fold over. Who will bail out the institutions then? Folks, the immense degradation of the American economy and society in America is INEVITABLE in light of the above, its a matter of when, not if.The level of indebtedness of the government and households has simply reached its limit.
u mentality really still stuck in the 20th century, thinking u actually need to make money from building something. search the word financial imperialism, why build something when u can make money out of thin air. playing with money is what makes the most money these days, and will enslave ppl in the process. why do u think financial space exist? because this capitalism, it will never be enough. they have to move on to virtual market. name one country in the world who actually got out of the 08 crash? every one is playing the same game, print money and stimulate their own economy. this is the failure of globalization, when u bind every economy together every one suffers. its not a single case for america, europe, or china. its a case for the entire world.
This is the time for an open , uncensored discussion. They try to stop the flow of this kind of info, but they have failed in every endeavor. I agree that the $22 trillion they say we owe them is their own GOLEM monster.
@@arupmullick3474 Check Out the following channels: The money GPS , RTD Rethinking The Dollar, Gerald Celente, RT America, SGTReport and Gregory Mannarino.
It's literally impossible to time the market. You can guess, but no one can predict when a market will tank. What Peter is saying is FACTUAL, which is why I respect his views on the economy. Regardless of the WHEN, the WHAT and WHY is far more important to understand.
Shawn agree especially with the powers that interfere with it. Quite a metric to include when selecting Investment goals lol. " success is a narrow road at times". Good luck to all.
The WHEN is the frustrating part. If you try to talk commonsense on the WHAT and WHY with most people they tend to just ignore reality and that has lot to do with the WHEN being too far in the future for them to care or think rationally.
I am looking to purchase a home but I think I should wait. I went to see a home yesterday selling for $117,000 in SW Florida. I checked things out and this house sold for $63,000 in 2015. That is nuts that they are asking almost twice as much as they paid just a few years ago. This is typical right now.
We already hit the iceberg but nobody sees the water. Peter came up from the engine room and shouted the ship is sinking. We ignore him and watch the band play beautiful music. The ocean is deep and cold. Not too many lifeboats. How does this end for everyone? Gulp!
Great analogy. I wonder though, are the countries that buy these treasury bonds going to keep doing so just to hear more songs? Or will they allow some static whilst changing the radio station? (changing the world reserve currency)
While some influence is due to online shopping, the discrepancy is no where near close. There are plenty of studies and reports showing that a majority of Americans have less than $400 in their account (in other words, they do not have the money to cover an emergency expense.) If they do not even have that kind of extra money, they certainly are not out shopping; except to meet necessities.
Mitchell Schmidt 80 million Americans have amazon prime. Tell me more about how Amazon isn't that big of a factor in declining retail from brick and mortar stores.
Kody, 80 million accounts does not equate to people shopping. It only shows a gradual shift toward the online market. obviously that has an affect on brick and mortar. I never disputed that. My claim is that people don't have money to shop and that is the main reason for the closure of brick and mortar., not online shopping (though, as mentioned, that will grow and disrupt brink and mortar to a greater degree in the future)
Peter Schiff it is good to hear the truth! Inflation is not below 2% it is much higher........and healthcare.....!! We are very grateful that we have no debt and saved by being frugal and living within our means. bought a small home (50% downpayment) and kept our cars 10 years or more.........until we had saved for a new car.
The guberment doesn't count health care, gas, food or other "volatile" products when calculating inflation. The will include a store that is having a sale due to no business, so that off sets the real numbers. When looking at any data, remember 72.4% statistics are made up.
jammy jackson I run a painting business in Qld Australia and after deductions I'm never paying over 25% tax. I make deductions on gst on purchases so all up probably 32%. Fair I think, considering I've had to rely on the public health system in the past. How do you get to 80%? Exaggeration?
Tim Huth hi Tim This is how I see it TAX in Australia 1 income tax pay about. 30 % 2 GST. 10 % 3 superannuation 9% That leaves. Only 51 %' in your Pocket . But there's more taxs To come 4. Tax on motorbike and vehicle s Is not 5 %' taxs on cars and motorcycle are around 200 % 5 Australia has lots of land Why so expensive more taxs 6 everything in Australia is 2 to 5 times The cost if you compare It to the same size economy And standards of living in Malaysia. 1 malaysia fuel. 1 liter. 40 c Australia. Fuel 1.liter. 1.40 $ Malaysia. 300 square house AU$ about 160k Same size house in the LUCKY country Australia 500+ k And before you say Malaysia Makes Australia look like A third world country
Yeah I'm impressed. I agree with all those words. I agree he could have claimed gold 5k$, silver 100$ 10 years ago, but doesn't matter. He talks about general situation overview which I do agree. The gold price is only at that level thanks to Central Banks that are afraid of this asset.
All markets crash eventually. So if you keep predicting that "one of these days" we are going to have a crash or at least a big correction, eventually you will be right. Its almost like cheating lol
ive been saying this for years, were building a service industry based GDP and the services we use in the US are too expensive or becoming too expensive for the avg citizen and the services we sell internationally are being taken by countries entering 1st world status a system designed to completely fail
Best comment so far.....absolutely 100% correct! I live in Miami and I've seen things get so expensive the last 5 years that it's hard to make a descent living!
Even a broken clock is right two times a day. I agree with his theories, but have zero trust in the timing of his claims given how long he's been making them, and nothing has happened.
Why you don't trust him? He predicted the 2007-2008 crisis while everyone was making fun of him saying it would never happen. And like Mike said, currencies are failing all over the world. Millions of people are unemployed in the majority of the world's largest economies, their debt and our debt is RIDICULOUS (surpassing the GDP) it's almost as if the earth owe money to itself. Where all these trillions and trillions of dollars belong at? It makes absolutely no sense, the debt counter is huge, foreign debt is huge. We spent trillions in Iraq for nothing, almost all the oil reserves went to China, Russia and Germany. The USA could have sorted out all of its infrastructure problems with that money, instead, we did this shit and gained nothing in return. Now ISIS have a big chunk of those oil reserves in Iraq and it's supporting itself financially from it. How cool! We're talking about a event of unprecedented circumstances, catastrofic, combined disasters. This won't be just another crisis, it will be the end of the system as we know it. Schiff has been saying the same thing over and over for a long time, but he is right. The infamous doomsday will come soon.
He's not really trying to time it, its impossible to time. Peter Schiffs position is that the way our economy is ran by the federal reserve an us government is fundamentally flawed, and its going to continue to create large bubbles and catastrophic depressions.
He will be vindicated eventually, but he really underestimates how long the Fed can prop up this system, especially with their buddies in the military-industrial complex keeping half of the rest of the world so unstable. It can't and won't last forever, though, and the later it happens the worse the damage will be.
Reminds me of his Mortgage Bankers Speech from back in what was that 05-06? Whereby they didn't invite him back after calling the collapse... Just more tinder for the next Peter Schiff was right video...
The LiteCoin Advocacy Center Peter tells it how it is. He doesn't see the economy through the rose-colored glasses that everyone else does. Nor is he fooled by government announcements that the economy is doing great.
Alessia Aikley Litecoin is just as fast as bitcoin and cost less to transfer funds. The main caveat of litecoin is that there will eventually be 4x more litecoins 84 million then 21 million bitcoin in circulation
My whole life I've said loans are stupid and never got one but my life has to be tangled with misery because the government on top of me can't have the same foresight. Sigh.
Peter is a brilliant man, however I have been watching him for at least 20 years and he is always calling for a recession or worse. I am not saying he isn't right, just saying if you predict it's going to rain every single day, you will be correct eventually. He is usually correct with his statements, but years too early. To tell the truth any moron knows we are all screwed when the bill comes due, we are 20 trillion in debt. So saying we can't pay our debt, does not take a economic genius.
You're getting industry. Lots of places aren't. It's weird to travel around and see the difference between paper prosperity and actual prosperity........
@@ChrisGilliamOffGrid everything is fine in Us, Trump is making America great again, good production jobs are returning, one family income will again give family a great life, cars, home, stuff and holidays
If history is a guide then it's almost certain. Charles Dickens quote re a gold watch ''PORTABLE wealth Mr Pip. PORTABLE wealth''. But now the globalists are making sure there is nowhere to run to.
I've spent the past decade struggling... with eyes open. At one point I was working up to 3 jobs, 1 full-time and 2 part-time... and I have multiple degrees. I haven't been able to grasp how folks are so oblivious to the downward spiral we've been on... it's vividly clear to those who've been paying attention; a profound minority! The real estate market is falsely inflated, our social programs have been tapped, "secure" retirement plans are repeatedly being altered, less people own tangible items and nearly anything can and is being leased, the cost of living keeps rising while average earnings have been nearly stagnate, higher education is a necessity for basic employment yet all but invalid in the scope of debt VS earnings, retirees are assuming positions historically help by high school kids, credit card debt is skyrocketing... meanwhile, our Elected Officials earn 6 figures and profit off their investments as they grotesquely mismanage the Nation at the expense of the Citizens.
They do that here, but what people buy changes based upon how much money they have. So for example Americans used to eat more beef than they did chicken. Chicken is cheaper. As the price of beef has gone up people have bought more chicken. Therefore the inflation index shows no inflation because people's habits have changed. They're spending the same amount on a different but similar product.
Interests rates go down, oil prices rise. All consumer prices rise, particularly food, because of the cost of fertilizer and fuel for transportation. Price of oil comes down, price of food and goods remain high, probably due to the costs of acquisition of bankrupt farms? Why bankrupt farmers? Because retail costs and wholesale costs are two different things.
Great update from Schiff. He is a favorite economist. His pessimism keeps me grounded in basic principles... He is 100% more comprehensible than most ppl on tv.
Agreed. At some point part of what he says MAY come to pass. What he says sounds logical (although I don't know if it's true). However, the fact that it has not happened raises some serious questions. Either way, governments are NEVER going to let things get out of hand; not saying things would not get out of hand.
Yeah... "crying wolf" all the way from gold $250 to current $1250... Jus "sayin" Axn-hole, you're another shit-for-brains that doesn't have a clue... Bwahahaha!
Matthew Familia ok. I guess trading a nation's sovereignty for the safety of vulture capitalists is the right thing to do. hours of work per year per capita in Greece, 2000. hours of work per year per capita in Germany? 1200. who works harder?
Been predicting economic Armageddon for years, he always adjusts his forecast. He's not wrong in principal but he's still a broken clock, eventually he'll be right.
thank you peter for the video. can you name investment opportunities to benefit from a pull back in the economy. I am currently cash for most of my portfolio, seems like the worst option, what would be a better solution for me. Hard precious metals, stocks, shorting stocks and ETFs, BTC, energy stocks, grocery/utility stocks?
Hard to take this guy seriously when he starts off by saying companies issue bonds in order to buy back shares to prop them up, that's unequivocally false, its public knowledge and easily verifiable that most companies are wholly owned (90% or more) by institutional investment funds like Vanguard, Fidelity, Blackrock, etc. No sane investor would buy your bonds in the 1st place if the only purpose for issuing them was to by back your own stock.
I have been listening to him since 2009 and have never heard him give a date to a crash. His message has always been that our current path is unsustainable and outlines why that is the case. He is so consistent that he could be accused of being a broken record, but it is something that I respect about him; he stays on message even when everyone yells for him to change his tune.
The reason, they want inflation is to inflat the debt away. Also they have a hard time taxing deflation, they want inflation of houses, cars and stocks to get higher tax revenue.
Bingo. Second vid I've watched this hour predicting doom. The other was from 2015. Well, I made good money in the market in the last 5 years. Keeping a close eye on it for sure, but not just all cash.
The floor has indead collapsed which is why "Not QE4 has been implemented" if the economy was so amazing why would we need this stimulus (Interest rate cuts + QE4) if the economy was so good?
@@majinvegeta7381 I am ignorant because I worked hard and got into a field where I knew I'd make 6 figures? It is indeed easier to be envious of what others have and play the victim. That is what most people do in life.
There is a limit to how high Gold can go and it is determined by the Paper Derivative. There is no limit to how much Paper Derivative Gold can be Printed effectively making Gold Fiat: www.zerohedge.com/news/2017-06-08/someone-just-dumped-4-billion-gold-futures-ahead-comey-testimony The Real Story is the Paper Gold Derivative Story and how it will become Inflated to Suppress Gold. Still Waiting for you to address this Peter...
There is a limit to how high gold can go and it is determined by the Paper Derivative is true BUT what will happen when all the investors that hold this paper want the physical gold........during a bad crisis...??
Are we really that stupid we ignore history? What happened in the 1970's? What the difference between Money and currency? Did Germany want there Gold back? Are all the eastern exporters buying Gold to line there banks? What happens when this derivative market is exposed? Show white your in a fantasy land.
Establish communication with India & ask them to associate the currency to Pakistan. Further link trade deals to Iran & Pakistan. Create multiple paths, link it to terrorist organizations (such as ISIS). Mass advertise it on media. Progress with Ransomware & link it to Syria government or Iran as the primary source. Then progress banning Bitcoin simultaneously with multiple nations. Introduce legislation… That’s only one way out of dozens of obvious likely scenarios, I would calculate many factors before developing strategies.
I'm a nurse practitioner that knows hardly anything about economics, finance or investing. Only a few months ago, I started educating myself on the federal reserve and American/global banking system. The more I research, the more evidence there seems to be that we are screwed. Now, I find myself scrambling to figure out how to protect myself and it's overwhelming. Fortunately, I have the education/skills to be able to possibly make a way for myself if there is a collapse of society. But, how can a normal American that has little clue about what is going on protect themselves? Reduce or eliminate all debt? Will that even help? is it too late?
And I totally see what he's saying about unemployment. I've been working as a travel NP for the past 3 years. I'd say close to half the patients I see in some areas of America are unemployed. Granted, I have been going to underserved areas, so I know that may count for something. I was so confused when we get reports that unemployment was so low when I was seeing so many unemployed patients. Obviously, they do not take into account the Native populations, because I have been on many reservations where it is unusual to see a patient that actually has a job. When the economy collapses, it will be the end for them because they rely so heavily on government subsidies. I hope I'm wrong though. I don't want to be right about that.
How pathetic is your life when you cant see two people who see the same issue, but in different ways of approaching it. Ben himself says to safeguard agianst the US with gold just as Peter does. Seems like you're not paying attention like all the other fools.
The US economy is the most important economy from the perspective of the US. After the global economic flu which occurred in 2008-2009, hopefully the world inoculated itself against the coming US economic implosion.
We used Dave Ramsey’s baby steps to pay off all our debt (20k) last year and now we are piling up cash to put down 50% on a house. The key to wealth building is too pay cash for everything and consume less.
He says that he 'doesn't see this off in the distance'. He sees this coming soon. Hasn't he been saying the same thing for a decade or longer? Jesus is 'coming soon'. Soon can mean in a few thousands of years.
Noah took over a hundred years to build an ark. He was warning people a LONG time. People expect the Crisis to follow the warning instantly. I'm glad we've had time to prepare. Very Glad we've had people calling a warning to whats coming for a LONG time.
I too believe Peter makes sense and is 'right.' The thing is no one, including Peter, can say when it will happen. And knowing when is important as much $ can be lost (or gains missed) waiting for the bubble pop to happen. Tricky business.
We always have endless people throughout history saying the end is near, politically, religious and economically. No one can really forecast such event's. When they take place we look to the most recent people and say they were right. But someone will always be right eventually. The lesson to learn is history will repeat in both directions, up or down.
Peter Schiff - your talk makes a lot of sense and feels right too, however do you have any data to back up some of your statements like each full-time job has been replaced by 2 part-time jobs or most people are juggling 3 part-time jobs.
He's right about quality. Food quality is much worse and people are being fooled by portion size. Food choice is much less and people are being fooled by variety.
Bank of America has been telling its institutional customers to sell for months. If they don't shrink the money supply the economy will tend to muddle along.
There's inflation might not notice it in prices but you will notice it in the portion sizes I mean remember when the oatmeal creame pies were huge and now they are tiny.. Dilly bars at Dairy Queen used to be huge and now are tiny but key is is the price is the same. It's a form of Roman coin clipping if u think about it
I like Peter Schiff. Until we can learn to live simple and save a little money each month we are doomed. Most Americans are overweight we drive gas guzzler cars and live in oversized houses. We are rich by world standards. Thanks Dan NIelsen
2008 crisis: Americans can no longer afford an American life but still don't want an India/Chinese life and also don't want to study as hard as Indians/Chinese even though America has the best Universities.
This comments was intentionally orchestrated in a controversial way. I'm originally from China and living in US right now. And TBH I currently don't have long term confidence in the US and thinking of moving back. Anyone try to persuade me or drop some xenophobic-nationalist comments please go ahead.
Next recession will be worse than 2008. The MBS in 2008 was $575 trillions. It is over $4 quadrillions today. The entire world GDP is around $150 trillions. You figure it out.
For November 2018 the official Current U-6 unemployment rate was 7.2% up from 7.0% in October and 7.1% in September but still below the 7.4% in August and below the recent cyclical high of 8.1% in June and well below the highs of 8.6% in February, and below the previous cyclical low of 7.6% in October 2017.
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th-cam.com/video/KIsgcaTt0MA/w-d-xo.html 9 11 was war !! other issues in volved .. decades pre and to this day.. world wide. 8 min mark freeze list ther and more will be put in limelight politicans .. some you already do not see .metals to china so fast after 9 11 like a fst virus .. travelling the world.. or the extra special rare earths side of ISS. white swan verse black swan.. the egg broke open.goodluck with the hatch...
Rob Sullivan b
InstaBlaster.
Good speech Peter, I am impressed. Peter Schiff spoke for approximately 30 minutes without a teleprompter or from reading a piece a paper. He knows what he's talking about .People made fun of him before the last major financial crisis in September-October 2008, and he was proven right. People should pay attention to what he is saying here.
Ergo I totally agree. He is right and speaks the truth.
well, that was easy for him. he kept saying the samething in the last 20 years. Not that he isnt right, though.
Jorge Gomez I'll give it to him that it's hard to exactly predict these things, but he does go outside the ballpark and also I think it's part of his shtick to make money. I don't think he has any malevolent intentions though.
most people including me, were making fun of him, because he was making forecasts about next financial crisis every few months, so there is no way he fails with his "forecast". but this is analysis is more fact-based
Ergo he always does. His 2 hour speeches are in his head. The guy is just super smart.
Peter Schiff is never at a loss for words; but only, at a loss for time. The guy knows what he's talking about.
Schiff is best teacher. Been his student since 2007. The depth of his understanding is phenomenal.
He is awesome.... I wish I had the chance. Brilliant man. Keep pushing Peter.
I wonder if he is part of the Schiff banking family that lived next to Rotschild back in the 17th century of Germany.
@@Inception1338 I wonder what that would have to do with him?.... do you know your whole past. Kinda crazy to go down that hole.... he is only giving advice you have choice not to watch...just saying... be well my friend life is hard enough.
@@ethanniedorowski6020 o.k.
Have you been Holding on to your same 15 ounces of gold all this time?
The American economy has collapsed from 2008 and has never recovered. It was simply propped up or stimulated with money. Money that didn't improve productive capacity, infrastructure or the real economy. It simply restored households confidence and bailed out the banks that helped to cause the crash. Furthermore, Automation and Chinese trade hegemony has been simultaneously shafting the American (Western Hemisphere) economy for years resulting in wide-scale loss of jobs, hence loss of household income.If theres no income, there'll be no financing of the trillions of dollars of credit card, mortgage debt and motor vehicle debt incurred by households and as such banks will slowly fold over. Who will bail out the institutions then? Folks, the immense degradation of the American economy and society in America is INEVITABLE in light of the above, its a matter of when, not if.The level of indebtedness of the government and households has simply reached its limit.
The collapse was 1913..
agreed with that, so how do we not descend into a lawless wasteland when it happens?
u mentality really still stuck in the 20th century, thinking u actually need to make money from building something. search the word financial imperialism, why build something when u can make money out of thin air. playing with money is what makes the most money these days, and will enslave ppl in the process. why do u think financial space exist? because this capitalism, it will never be enough. they have to move on to virtual market. name one country in the world who actually got out of the 08 crash? every one is playing the same game, print money and stimulate their own economy. this is the failure of globalization, when u bind every economy together every one suffers. its not a single case for america, europe, or china. its a case for the entire world.
US Gov't has enough mechanisms in place to stop that from happening. Good welfare system, propaganda and militarized police to quell uprisings.
Your post is totally ridiculous and shows you don't understand money or basic economics.
A man preaching the truth is called crazy in 2017. Amazing.
This is the time for an open , uncensored discussion. They try to stop the flow of this kind of info, but they have failed in every endeavor. I agree that the $22 trillion they say we owe them is their own GOLEM monster.
@@TAXCOLLECTOR-mx3mg why are we trading fiat $ for gold/silver & then sell it for fiat$? That is where i don't get.....
Aren't they the FED???
This guy "Peter Schiff" is 100% correct ! ! ! He is the ONLY person I have ever heard that speaks the truth.
@@Bailey_iQ who else should I hear?
Very true
@@arupmullick3474 Gerald Celente
@@arupmullick3474 Check Out the following channels: The money GPS , RTD Rethinking The Dollar, Gerald Celente, RT America, SGTReport and Gregory Mannarino.
I trust Jesus & Peter Schiff.
It's literally impossible to time the market. You can guess, but no one can predict when a market will tank. What Peter is saying is FACTUAL, which is why I respect his views on the economy. Regardless of the WHEN, the WHAT and WHY is far more important to understand.
Well said.
Shawn agree especially with the powers that interfere with it. Quite a metric to include when selecting Investment goals lol. " success is a narrow road at times".
Good luck to all.
The WHEN is the frustrating part. If you try to talk commonsense on the WHAT and WHY with most people they tend to just ignore reality and that has lot to do with the WHEN being too far in the future for them to care or think rationally.
The problem with commonsense is that...It's not always common.
+Mark Aven government/wallstreet Will do everything necessary to keep economy from collapsing....short term gain,long term pain
I am looking to purchase a home but I think I should wait. I went to see a home yesterday selling for $117,000 in SW Florida. I checked things out and this house sold for $63,000 in 2015. That is nuts that they are asking almost twice as much as they paid just a few years ago. This is typical right now.
SEK4110 Susan yes houses are inflated maybe next year all the house are going to decrease their prices cause no bank are borrowing money
SEK4110 Susan average price in any city of Australia is 1 million
SEK4110 Susan Only $117,000 what is wrong with it that it is that cheap.
Been that way for quite sometime.
@@dontbetonit813 ur a moron
We already hit the iceberg but nobody sees the water. Peter came up from the engine room and shouted the ship is sinking. We ignore him and watch the band play beautiful music. The ocean is deep and cold. Not too many lifeboats. How does this end for everyone? Gulp!
totally agree
Great analogy. I wonder though, are the countries that buy these treasury bonds going to keep doing so just to hear more songs? Or will they allow some static whilst changing the radio station? (changing the world reserve currency)
We all hit the iceberg in the 2008 FC.
@@wearewaves3106 oh, we don't need other countries to buy our debt, we just get the Federal Reserve Bank to buy our bonds.
It is now April 2020 and the Titanic HAS HIT THE ICEBERG BIGTIME...SCARYYYY
"After the recovery, we were poorer than we started", so damn true.
wonder how many store closings are due to AMAZON vs people not buying.?
While some influence is due to online shopping, the discrepancy is no where near close. There are plenty of studies and reports showing that a majority of Americans have less than $400 in their account (in other words, they do not have the money to cover an emergency expense.) If they do not even have that kind of extra money, they certainly are not out shopping; except to meet necessities.
...has more or as much to do with consumers being tapped out,as amazon.
Mitchell Schmidt 80 million Americans have amazon prime. Tell me more about how Amazon isn't that big of a factor in declining retail from brick and mortar stores.
Kody, 80 million accounts does not equate to people shopping. It only shows a gradual shift toward the online market. obviously that has an affect on brick and mortar. I never disputed that. My claim is that people don't have money to shop and that is the main reason for the closure of brick and mortar., not online shopping (though, as mentioned, that will grow and disrupt brink and mortar to a greater degree in the future)
kody, I have an Amazon account,haven't used it in over 2 years,but I have shopped at brick and mortar in those two years....just not nearly as much.
Peter Schiff it is good to hear the truth! Inflation is not below 2% it is much higher........and healthcare.....!!
We are very grateful that we have no debt and saved by being frugal and living within our means. bought a small home (50% downpayment) and kept our cars 10 years or more.........until we had saved for a new car.
The guberment doesn't count health care, gas, food or other "volatile" products when calculating inflation. The will include a store that is having a sale due to no business, so that off sets the real numbers.
When looking at any data, remember 72.4% statistics are made up.
Matthew Familia it's the same in Australia and on top of all that if your unlucky enough to have a job
your acumlitv taxs at 85% WTF
jammy jackson I run a painting business in Qld Australia and after deductions I'm never paying over 25% tax. I make deductions on gst on purchases so all up probably 32%. Fair I think, considering I've had to rely on the public health system in the past.
How do you get to 80%? Exaggeration?
Tim Huth hi Tim
This is how I see it TAX in Australia
1 income tax pay about. 30 %
2 GST. 10 %
3 superannuation 9%
That leaves. Only 51 %' in your
Pocket . But there's more taxs
To come
4. Tax on motorbike and vehicle s
Is not 5 %' taxs on cars and motorcycle are around 200 %
5 Australia has lots of land
Why so expensive more taxs
6 everything in Australia is 2 to
5 times The cost if you compare
It to the same size economy
And standards of living in
Malaysia.
1 malaysia fuel. 1 liter. 40 c
Australia. Fuel 1.liter. 1.40 $
Malaysia. 300 square house
AU$ about 160k
Same size house in the LUCKY country Australia 500+ k
And before you say Malaysia
Makes Australia look like
A third world country
Inflation is an increased supply of money not simply higher prices
Love Peter; sharp as hell
Sharp but wrong.
Alex P. Broken clock is not sharp.
Yet always wrong.
I'm loading up on gold, which I think will perform very well during this recession.
I go out in the street and see the majority of people LIVING what Schiff is talking about. PERIOD!!
First time I heard him talk. Amazing
2:26 "The federal government has a 20 trillion dollar national debt."
Update 2022: It's 30 trillion dollars now!🙄
Yeah I'm impressed. I agree with all those words. I agree he could have claimed gold 5k$, silver 100$ 10 years ago, but doesn't matter. He talks about general situation overview which I do agree. The gold price is only at that level thanks to Central Banks that are afraid of this asset.
He's been saying the same thing for 10 years or more and the markets keep going higher.
His response is literally, "Just because I'm late in my predictions, doesn't mean I'm wrong". He doesn't understand the scientific method.
All markets crash eventually. So if you keep predicting that "one of these days" we are going to have a crash or at least a big correction, eventually you will be right.
Its almost like cheating lol
ive been saying this for years, were building a service industry based GDP
and the services we use in the US are too expensive or becoming too expensive for the avg citizen
and the services we sell internationally are being taken by countries entering 1st world status
a system designed to completely fail
Best comment so far.....absolutely 100% correct! I live in Miami and I've seen things get so expensive the last 5 years that it's hard to make a descent living!
why not start a business selling these "expensive things"?
Always great to hear Peter speak about economics
Inflation is just another Tax. Your savings loose buying power by the percentage of inflation per year.
Even a broken clock is right two times a day.
I agree with his theories, but have zero trust in the timing of his claims given how long he's been making them, and nothing has happened.
Why you don't trust him? He predicted the 2007-2008 crisis while everyone was making fun of him saying it would never happen. And like Mike said, currencies are failing all over the world. Millions of people are unemployed in the majority of the world's largest economies, their debt and our debt is RIDICULOUS (surpassing the GDP) it's almost as if the earth owe money to itself. Where all these trillions and trillions of dollars belong at? It makes absolutely no sense, the debt counter is huge, foreign debt is huge.
We spent trillions in Iraq for nothing, almost all the oil reserves went to China, Russia and Germany. The USA could have sorted out all of its infrastructure problems with that money, instead, we did this shit and gained nothing in return. Now ISIS have a big chunk of those oil reserves in Iraq and it's supporting itself financially from it. How cool!
We're talking about a event of unprecedented circumstances, catastrofic, combined disasters. This won't be just another crisis, it will be the end of the system as we know it. Schiff has been saying the same thing over and over for a long time, but he is right. The infamous doomsday will come soon.
He's not really trying to time it, its impossible to time. Peter Schiffs position is that the way our economy is ran by the federal reserve an us government is fundamentally flawed, and its going to continue to create large bubbles and catastrophic depressions.
He will be vindicated eventually, but he really underestimates how long the Fed can prop up this system, especially with their buddies in the military-industrial complex keeping half of the rest of the world so unstable. It can't and won't last forever, though, and the later it happens the worse the damage will be.
Skylar, saying the economy will boom and bust is so obvious it doesn't even need to be said.
DieselBoatMan If you are predicting a crash of historical proportions, isnt ten or twenty years a pretty good margin
Reminds me of his Mortgage Bankers Speech from back in what was that 05-06?
Whereby they didn't invite him back after calling the collapse...
Just more tinder for the next Peter Schiff was right video...
The LiteCoin Advocacy Center
Peter tells it how it is. He doesn't see the economy through the rose-colored glasses that everyone else does. Nor is he fooled by government announcements that the economy is doing great.
Alessia Aikley Litecoin is just as fast as bitcoin and cost less to transfer funds. The main caveat of litecoin is that there will eventually be 4x more litecoins 84 million then 21 million bitcoin in circulation
How S That Popoulos Working Out For You Know, Shit Nigga Coin
I knew all this, avoided the stock market and missed huge bull run.
Schiff has been spot on right so many times
He is right again
My whole life I've said loans are stupid and never got one but my life has to be tangled with misery because the government on top of me can't have the same foresight. Sigh.
Peter is a brilliant man, however I have been watching him for at least 20 years and he is always calling for a recession or worse. I am not saying he isn't right, just saying if you predict it's going to rain every single day, you will be correct eventually. He is usually correct with his statements, but years too early. To tell the truth any moron knows we are all screwed when the bill comes due, we are 20 trillion in debt. So saying we can't pay our debt, does not take a economic genius.
I agree. So many "experts" with their gloom and doom and impending financial disaster scenarios are like the boy crying wolf.
I watched this video and now I’m an economist.
Obama inherited a really bad economy from Bush.
He hasn't really aged much at all in the twenty one years since ID4 Independence Day.
More For You From ... The Japan Dude Whats ID4?
The reality is scary, it's much easier to just enjoy life and pretend none of this is so.
How long has he been saying this?
Every restaurant in northwest Arkansas is always full. Waiting lines in some. Huge amount of building here.
You're getting industry. Lots of places aren't.
It's weird to travel around and see the difference between paper prosperity and actual prosperity........
Im 17 and i still cant believe most americans dont know whats going on ... Im sad 😢😭
What makes you think you know what is going on? Watching TH-cam fear porn?
@@ChrisGilliamOffGrid everything is fine in Us, Trump is making America great again, good production jobs are returning, one family income will again give family a great life, cars, home, stuff and holidays
@@Changeworld408 Manufacturing jobs that return to the US will mostly go to robots.
This guy is the man. Thanks. Im ready thanks to u.
I got a feeling gold will be confiscated in hard times
If history is a guide then it's almost certain.
Charles Dickens quote re a gold watch ''PORTABLE wealth Mr Pip. PORTABLE wealth''. But now the globalists are making sure there is nowhere to run to.
You better have your own security detail to protect your gold! Afraid you are correct!
So if you buy gold,make sure the government does not know? And do not take a promissory note.
I've spent the past decade struggling... with eyes open. At one point I was working up to 3 jobs, 1 full-time and 2 part-time... and I have multiple degrees. I haven't been able to grasp how folks are so oblivious to the downward spiral we've been on... it's vividly clear to those who've been paying attention; a profound minority! The real estate market is falsely inflated, our social programs have been tapped, "secure" retirement plans are repeatedly being altered, less people own tangible items and nearly anything can and is being leased, the cost of living keeps rising while average earnings have been nearly stagnate, higher education is a necessity for basic employment yet all but invalid in the scope of debt VS earnings, retirees are assuming positions historically help by high school kids, credit card debt is skyrocketing... meanwhile, our Elected Officials earn 6 figures and profit off their investments as they grotesquely mismanage the Nation at the expense of the Citizens.
nicely put sir.
Just buy the goods needed for a household every week on average and measure it every year.
Thats how we in Holland measure inflation.
They do that here, but what people buy changes based upon how much money they have. So for example Americans used to eat more beef than they did chicken. Chicken is cheaper. As the price of beef has gone up people have bought more chicken. Therefore the inflation index shows no inflation because people's habits have changed. They're spending the same amount on a different but similar product.
Interests rates go down, oil prices rise. All consumer prices rise, particularly food, because of the cost of fertilizer and fuel for transportation. Price of oil comes down, price of food and goods remain high, probably due to the costs of acquisition of bankrupt farms? Why bankrupt farmers? Because retail costs and wholesale costs are two different things.
2 years after release of this video, it's happening.
Great update from Schiff. He is a favorite economist. His pessimism keeps me grounded in basic principles... He is 100% more comprehensible than most ppl on tv.
I'm believing Schiff, but dayum, he's been crying wolf for years.
Agreed.
At some point part of what he says MAY come to pass. What he says sounds logical (although I don't know if it's true). However, the fact that it has not happened raises some serious questions. Either way, governments are NEVER going to let things get out of hand; not saying things would not get out of hand.
Yeah... "crying wolf" all the way from gold $250 to current $1250... Jus "sayin" Axn-hole, you're another shit-for-brains that doesn't have a clue... Bwahahaha!
He's not crying wolf it's just that his timing is way off
Jus Axn yes. he's an idiot. austerity shrinks GDP, just look at Greece.
Matthew Familia ok. I guess trading a nation's sovereignty for the safety of vulture capitalists is the right thing to do. hours of work per year per capita in Greece, 2000.
hours of work per year per capita in Germany? 1200.
who works harder?
31 trillion now
Been predicting economic Armageddon for years, he always adjusts his forecast. He's not wrong in principal but he's still a broken clock, eventually he'll be right.
It's 2/5/2018 and the stock market has crashed, guess he knows what he's talking about.
Yeah he doesn't really know how long its going to take. Just depends on how long the governments can keep people fooled.
US citizens should listen to this kind of person Instead of politicians. Use this as baseline than judge politicians
how does government knows if you are looking or not looking for a job?
That's called insured unemployment.
m H Socialism.
Big brother is always watching :p
The government would probably get the figures through the tax office. It would make sense. If you are employed you are paying income tax.
The government controls life at all levels.
thank you peter for the video. can you name investment opportunities to benefit from a pull back in the economy. I am currently cash for most of my portfolio, seems like the worst option, what would be a better solution for me. Hard precious metals, stocks, shorting stocks and ETFs, BTC, energy stocks, grocery/utility stocks?
So, what will be the assets that allow me to maintain purchasing power? Gold/Silver?
Hard to take this guy seriously when he starts off by saying companies issue bonds in order to buy back shares to prop them up, that's unequivocally false, its public knowledge and easily verifiable that most companies are wholly owned (90% or more) by institutional investment funds like Vanguard, Fidelity, Blackrock, etc. No sane investor would buy your bonds in the 1st place if the only purpose for issuing them was to by back your own stock.
First time listened to Peter . I'm very impressed. Not everyone likes to here the truth.
My introduction to Peter Schiff was a speech in early May of 2015 about how economy was certain to crash that month.
No one can time the market.
Aleksandr Solzhenitsyn Please share the video you're talking about.
I have been listening to him since 2009 and have never heard him give a date to a crash. His message has always been that our current path is unsustainable and outlines why that is the case. He is so consistent that he could be accused of being a broken record, but it is something that I respect about him; he stays on message even when everyone yells for him to change his tune.
LOL Michel sooner or later you will Peter Schiff is a bullshitter and liar so he is not to be trusted.
That month? I doubt he ever said that. Since he's never said it.
The reason, they want inflation is to inflat the debt away. Also they have a hard time taxing deflation, they want inflation of houses, cars and stocks to get higher tax revenue.
JJ Ruona you are so right!!!
2 years later still nothing happened 😅
Bingo. Second vid I've watched this hour predicting doom. The other was from 2015. Well, I made good money in the market in the last 5 years. Keeping a close eye on it for sure, but not just all cash.
Au Contreras quite alot has happened. Gold and silver price, overnight repo + others 😀
Are you scared yet? Lmao!😂🤣😂
Government stimulus spent on corporate welfare is the big difference from past, more successfully recovered from, economic downturns.
its Feb 2019 the floor hasnt collapsed yet
March. .
@@JamesArthurKayak April... June... July?
The floor has indead collapsed which is why "Not QE4 has been implemented" if the economy was so amazing why would we need this stimulus (Interest rate cuts + QE4) if the economy was so good?
Peter's presentation is accurate. But AI, automation, and Universal Income are here.
Can we get the pitchforks yet? Tired of wasting my life for pennies while already rich people make even more.
So you want to steal from people because you don't want to work to get a better job or gain new skills?
@@botousai Ignorant.
@@majinvegeta7381 I am ignorant because I worked hard and got into a field where I knew I'd make 6 figures? It is indeed easier to be envious of what others have and play the victim. That is what most people do in life.
@@botousai Good day ignorant one.
@@majinvegeta7381 Haha such a cute lil' baby troll.
VA and FHA homeowners need to lock in their refi at 2.25% before rates rise too much.
There is a limit to how high Gold can go and it is determined by the
Paper Derivative. There is no limit to how much Paper Derivative Gold
can be Printed effectively making Gold Fiat: www.zerohedge.com/news/2017-06-08/someone-just-dumped-4-billion-gold-futures-ahead-comey-testimony
The Real Story is the Paper Gold Derivative Story and how it will become
Inflated to Suppress Gold. Still Waiting for you to address this
Peter...
yes, and this is what Peter is scared to talk about, he has never even mentioned it! He's a salesman, and a bullshitter.
There is a limit to how high gold can go and it is determined by the Paper Derivative is true BUT what will happen when all the investors that hold this paper want the physical gold........during a bad crisis...??
R R I don't get it. Why would investors be buying paper gold when the price keeps getting hammed down.
Are we really that stupid we ignore history? What happened in the 1970's? What the difference between Money and currency? Did Germany want there Gold back? Are all the eastern exporters buying Gold to line there banks? What happens when this derivative market is exposed? Show white your in a fantasy land.
the crisis will never come, they can just keep QE going... IF it does come, it will be when we are all dead.
Great speech Peter.
In Bitcoin I trust
It’ll only take 12days to implement anti-terror laws & ban bitcoin.
If that occurs, I'll just move to Japan.
Frank Lucas
That's going to be fun without internet.
Establish communication with India & ask them to associate the currency to Pakistan. Further link trade deals to Iran & Pakistan. Create multiple paths, link it to terrorist organizations (such as ISIS).
Mass advertise it on media. Progress with Ransomware & link it to Syria government or Iran as the primary source. Then progress banning Bitcoin simultaneously with multiple nations. Introduce legislation…
That’s only one way out of dozens of obvious likely scenarios, I would calculate many factors before developing strategies.
By that time you won't be able to move about freely anywhere. let alone Japan
I'm a nurse practitioner that knows hardly anything about economics, finance or investing. Only a few months ago, I started educating myself on the federal reserve and American/global banking system. The more I research, the more evidence there seems to be that we are screwed. Now, I find myself scrambling to figure out how to protect myself and it's overwhelming. Fortunately, I have the education/skills to be able to possibly make a way for myself if there is a collapse of society. But, how can a normal American that has little clue about what is going on protect themselves? Reduce or eliminate all debt? Will that even help? is it too late?
And I totally see what he's saying about unemployment. I've been working as a travel NP for the past 3 years. I'd say close to half the patients I see in some areas of America are unemployed. Granted, I have been going to underserved areas, so I know that may count for something. I was so confused when we get reports that unemployment was so low when I was seeing so many unemployed patients. Obviously, they do not take into account the Native populations, because I have been on many reservations where it is unusual to see a patient that actually has a job. When the economy collapses, it will be the end for them because they rely so heavily on government subsidies. I hope I'm wrong though. I don't want to be right about that.
Peter has already tanked all his clients. They won't survive the next crises.
Thanks for not having background music!! :)
capitalism is a death cult and Trump is the high priest
I didn't get the part at 28:26. Borrow money short, buy bonds, and that makes money. How does that work?
Id love to see the little snake Ben Shapiro try to debate Peter. Peter would destroy him.
jew shill vs jew shill. Sounds like they'd both be full of sh*t
How sad must your life be when you are convinced everything wrong in your life is a Jew's fault. I have seen your kind before.
How pathetic is your life when you cant see two people who see the same issue, but in different ways of approaching it. Ben himself says to safeguard agianst the US with gold just as Peter does. Seems like you're not paying attention like all the other fools.
literally anyone with half a brain can shit on Peter Schiff.
I am not sure how that interview might go cause both share the same principles on economics
The US economy is the most important economy from the perspective of the US. After the global economic flu which occurred in 2008-2009, hopefully the world inoculated itself against the coming US economic implosion.
no offense but this guys book in 2009. hes been crying the same wolf since he was right that one time but wrong 8 years since. not impressed
Bijan Fletcher But he was apredicting the 2008 crises for nearly a decade in advance as well.
to say a recession happens every ~10 years isn't very impressive.
We used Dave Ramsey’s baby steps to pay off all our debt (20k) last year and now we are piling up cash to put down 50% on a house. The key to wealth building is too pay cash for everything and consume less.
Take everything he says with a grain of salt.
Great job Peter.
THe prick has happened,,,we drop from here folks...
All that he said in 2017 is still relevant in 2019
He says that he 'doesn't see this off in the distance'. He sees this coming soon. Hasn't he been saying the same thing for a decade or longer? Jesus is 'coming soon'. Soon can mean in a few thousands of years.
Noah took over a hundred years to build an ark. He was warning people a LONG time. People expect the Crisis to follow the warning instantly. I'm glad we've had time to prepare. Very Glad we've had people calling a warning to whats coming for a LONG time.
When was this?
I too believe Peter makes sense and is 'right.' The thing is no one, including Peter, can say when it will happen. And knowing when is important as much $ can be lost (or gains missed) waiting for the bubble pop to happen. Tricky business.
Henry Ford paid his employees enough to afford his cars
Google what tribe Henry Ford would speak out against.
Are we in a Recession right now??? And the government is trying to undermine it by lowering interest rates?
Thank you, Peter Schiff.
We always have endless people throughout history saying the end is near, politically, religious and economically.
No one can really forecast such event's. When they take place we look to the most recent people and say they were right. But someone will always be right eventually. The lesson to learn is history will repeat in both directions, up or down.
Peter Schiff - your talk makes a lot of sense and feels right too, however do you have any data to back up some of your statements like each full-time job has been replaced by 2 part-time jobs or most people are juggling 3 part-time jobs.
He's right about quality. Food quality is much worse and people are being fooled by portion size. Food choice is much less and people are being fooled by variety.
Bank of America has been telling its institutional customers to sell for months. If they don't shrink the money supply the economy will tend to muddle along.
Great speech Peter. Keep it up, the message is harsh and takes time to soak in,
Nothing matters when you have the greatest military
There's inflation might not notice it in prices but you will notice it in the portion sizes I mean remember when the oatmeal creame pies were huge and now they are tiny.. Dilly bars at Dairy Queen used to be huge and now are tiny but key is is the price is the same. It's a form of Roman coin clipping if u think about it
Phenomenal presentation. It all adds up.
Richard Wolff talks about this stuff and actually makes sense.
Cost goes up. Cost of living goes up. Everything goes up. But NOT MY PAYCHECK.
There's alot of parallels to what he is saying to the UK aswell.
He's been saying the same thing for 25 years.
HE HAS BEEN CORRECT FOR 25 YEARS.
I like Peter Schiff. Until we can learn to live simple and save a little money each month we are doomed. Most Americans are overweight we drive gas guzzler cars and live in oversized houses. We are rich by world standards. Thanks Dan NIelsen
The stock market will never crash again. They won't let it.
2008 crisis: Americans can no longer afford an American life but still don't want an India/Chinese life and also don't want to study as hard as Indians/Chinese even though America has the best Universities.
This comments was intentionally orchestrated in a controversial way. I'm originally from China and living in US right now. And TBH I currently don't have long term confidence in the US and thinking of moving back. Anyone try to persuade me or drop some xenophobic-nationalist comments please go ahead.
Next recession will be worse than 2008. The MBS in 2008 was $575 trillions. It is over $4 quadrillions today. The entire world GDP is around $150 trillions.
You figure it out.
For November 2018 the official Current U-6 unemployment rate was 7.2% up from 7.0% in October and 7.1% in September but still below the 7.4% in August and below the recent cyclical high of 8.1% in June and well below the highs of 8.6% in February, and below the previous cyclical low of 7.6% in October 2017.