U.S. Economic Crash Worse than 1929 - Peter Schiff Issues Warning
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- Опубликовано: 8 мар 2024
- Peter Schiff says the U.S. has made mistakes that will result in a depression worse than 1929 @peterschiff
#peterschiff #useconomy #greatdepression
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Peter Schiff Contact Information and Video Links: europac.com/ and here are his videos discussed during the show: ruclips.net/video/4RaqBlxsEEA/видео.htmlsi=S7z8S7bxLuSAnVGJ and ruclips.net/video/UxqhEvbOpvM/видео.htmlsi=LcheDmgQ4Uykj-eF Hope you enjoyed the show!
it was great until 17:01 when he said can the companies sustain to pay higher wages. well the reality is that average profit of companies is all time high in history and 2x on average. So these guys are morons for not mentioning this fact. because it changes the whole argument.
@hayatlak355 Small business is the largest employer in the country, not big Wall Street firms. What Peter is saying is true.
Why these interviewers never ask these "experts" their track record. All of Peter's funds are losing money since 2013. That is 11 years NOT EVEN INFLATION ADJUSTED. Where is the gold 5,000?
The biggest shocker to me is that more people are putting groceries on buynow-paylatter plans
Peter is always Brilliant Big Thanks 👍👍👍👍👍👍👍👍
“Got money for wars, but can’t feed the poor.” -Tupac
I suggest we do neither. No wars, no more borrowing, and no more gubmint cheese (welfare for "the poor).
Welfare always was and should now be a function of private charity.
@@llee8325 THEN WHY DID JESUSCHRIST SAID HELP THE POOR,LET'S REMEMBER WHEN WE LEAVE THIS WORLD ,THE ONLY THING WILL TAKE WITH IS OUR DEEDS
@@llee8325 Poverty is a social construct. Why do US military end up homeless on the street. Why does Bill Gates own the farmland. Why does Israel own US govt. Why are US borders open. Why was US industry outsourced to China. Why does US have balance of payments deficit. Nearly all Americans are poor.
And there’s a lot of pour out there…😢
@@llee8325 remove government and a lot of these zoning laws and regulations and most people won’t be poor. They will be able to build their own homes to however they see fit, they will raise livestock and chickens,rabbits, ect. People can be self sufficient but the system is what makes them poor and dependent
I went to the grocery store...Progressive can of soup, $5.00. Oil change and tire rotation, $179.00. Breafast alone at IHop with tip, $30.00. This is all in one day, I was traumatized. Yeah, there is definitely something wrong.
100%
rotate tires yourself, same oil change 30$
Just pull yourself up by your bootstraps 😉
What used to be common purchases by regular people (even a couple of years ago), is now only for the wealthy.
Breakfast at home and do my own oil change 55.00 🤫👍
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favourable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Rachel Sarah Parrish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Biden is worst thing that happened to us
TRUMP 2024
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
Fantastic! Can you share more details?
was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
Actually, they're not telling us it's sunny when it's raining. They're PISSING on us and telling us it's raining!
Actually, they're pissing on us and telling us it's sunny.
Nothing lasts forever still no matter what !!!
👍👍😂🤣
Lo L 😂
Yep
We must spread the word, that the whole system is corrupted, sick and rotten.
Seems painfully obvious, those who can't see it don't want to see it
This all started on Christmas eve 1913.
@@garyzimmer8061 on Jekyll island right?
i just posted this on my face book account
Everyone knows my friend. Common people can't do anything about it.😂
I'm mostly in cash and waiting for this market to re-level on the reality of our situation. Or are there any ways I can avoid a crunch and maximize my savings of 160k? I know election years are positive for the stock markets about 90% of the time.
Don't be in a hurry to get in. The market needs several days of strong performance to signal that the downturn might be over; It's a time to be largely, if not entirely, in cash
Inflation gives the illusion of growth. Investors should exercise caution with their exposure and exercise caution when considering new investments during these periods.
The economy and stocks are two different things these days, but i agree, I think it's brilliant to have a portfolio advisor for investing! The market's instability makes DIY risky. You don't need to find the next NVDA to succeed in investing. I've turned 180k into $20k in quarterly dividends, a major milestone.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
*Jennifer Leigh Hickman* has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I worked 28 yrs at a semiconductor company and just quit. During most of my tenure, they were a $50million/yr. company. Now they are $70million+ company with 3 less engineers in my group than before. The stress is unbearable. I feel bad for our children. The corporate greed doesn't care about you at all.
Lazy Balls!!
😜
I am sorry to hear tht. What a world we live in today. I hope better things come ur way.
Neither does the Govt!
So true, my brother in law is a technical writer for IBM most of his team was wiped out.
The corporation is a heartless machine designed to make as much money for the CEO and other officers as possible at the expense of everybody else. They bribe politicians with campaign donations in order to depress wages and replace Americans with foreign labor.
My favorite Peter line "it’s not that I’m so smart, it’s that they are so dumb" 😂
👍💯🤣
America is a Banana Republic just without the bananas.....! ~ Peter Shiff.
humble bloke he aint
alex and other peaople were like, im not that good, im kind crap, its just THEY ARE THAT BAD!
Actually he is controlled, which is why he is allowed on the MSM circuit at all.
I agree with Peter this whole economy is setup for the worst recession/depression of my lifetime and I'm 68 so I've seen a few.
The rent is crazy. Food prices are out of control. The jobs not pay any money. It's crazy now
Landlords are out of control...never thought this would happen ..but they've proven greed has no decency
You know it's bad when you start skipping things you used to buy because the price has almost doubled.
Yep, and I can still afford to buy at the inflated price, but won't because it feel like someone is trying to rip me off! I only buy what I feel brings the most value for the lowest amount of money.
Yeah...like rent. Pricing storage sheds to live in.
@@angeliqueteague9092 😢
I had to stop buying beer. Now I drink the tap water that tastes like a swimming pool 🤣
At this point should we refuse buying cheap Chinese products like the EV cars something we can afford? 😔
Mistakes? Looks more like malfeasance, corruption, and greed.
I noticed a lot of financial guys don’t like to use the word “ greed” but we are all thinking it.
Its design that way.. to erase the mid income family..
🎯
The swamp is indeed extremely deep and viscous. Corruption is embedded too deeply for a few good men to overcome
Sad truth
The swamp is inhabited by those who claim to drain it
Create chaos, dominate the world.
That's exactly what they've done this was planned
The US government also has to stop funding other nations issues and wars and start focusing on our issues here
I’d rather they do little to nothing on federal level for us. No more federal taxes.
And we have to start voting those fools out and vote in people who will work for America and the American people.
@@dennisdean7433 there’s no way we can vote our way out of this. Stop being naive. We don’t live in a real democracy.
Your government created implanted those wars
Your government created implanted those wars
The Great Depression was not caused by rising wages, that is a fallacy. It started from Greedy trading and fixed market on Wall Street.
It’d definitely coming back
Noone is talking about the loss of jobs available to teens. Most seem to forget how those summer jobs created disposable incomes that were spent on what are now "luxuries".
Our country is already bankrupt.And their still borrowing to fund what they're spending.God help us .
BIIIIIIINGO....!!!!!
The FED needs to print more money.
@@xgio They need to stop printing that darn .Money and work on getting rid of the none stop stupid spending.And start balancing our budget.
It's funding the Ukraine war from American taxpayers money,and the trade war with China which are affecting our economy negatively
Its been that way for decades now none of this is new just other countries economies are now alot stronger than they were decades ago this whole country is built on credit its been a flawed concept and construct now all of sudden they see the neighbors gaining ground now they discover we have a problem give me a break
“Where are people getting that money” - I can’t go grocery shopping without being treated like a criminal. Literally. They force you to use self checkout then stand over you watching like a hawk in case you might steal something. I used to love grocery shopping. Sad.
They are disgusting pukes but oftentimes I don’t have a choice because even to bake my own bread, i have to buy the flour, eggs and milk somewhere. I’m a physical therapist and a firefighter. I don’t have time to also raise my own chickens, milk the cows and grow corn and wheat then grind it down for flour. I’m stuck. It sucks.
I’m such a pain in the a$$ at self check out they try to leave me alone. JS
To many people. Overpopulation with little supply. To much money in the m2 money supply. In the yr 2000 there was only 4 trillion dollars in the m2 money supply. Today 20 trillion dollars in the m2 money supply. Folks there is your inflation. To many people needing shelter, Overpopulation is why housing prices and rent are so high. Supply and demand.
IMHO
I refuse to use Self-Check out.
@@dannypowers4995I agree with everything except the over population part. Sure there are dense pockets in cities but as a country we are nowhere near overpopulated by any means….
Excellent interview, Peter Schiff is another example of us government destruction for its own successful working hard professionals, I did multiple surgeries to crime victims all victims fully recovered and return back to their normal life, what i got from "The Crime Victim Compensation Bureau in Chicago IL" no payment but a frivioulus fabricated complain against my license.
Now the hospital is desperate to find another doctor to do the cases with the same training and years of experience, the hospital did not find any one! and lots of victmes are suffering!
I live in my car, I've reduced my eating and lost 30 lbs, and I think of saving every penny I can hopefully I can soon buy a vehicle large enough to sleep in and wait
This is what it's coming down to because you can't afford your rent groceries you've done this all on purpose and 80 year olds are getting evicted people are losing their homes again and their vehicles
I work for the US treasury until 2024, it has been 2 years of GDP growth decline = technical recession but US media is mute
It's an election year...people know the economy is bad when orange juice is $8 a gallon....in Florida
@@youngw1ze i saw a half gallon of orange juice at a gas station..... $6 for a half gallon. i know gas stations are overpriced, but still that's $12 per gallon
Most of us know.But alot don't.
You should have accept it when you were receiving covid stimulus checks from the government. Did you return checks back?
@@seymayuruyen4941: USA government printed no money for those stimulus checks. Financial institutions accepted straight, digital transfers. No dollar bills were printed for the stimulus checks, so no dollar bills ever have to be redeemed for that 'money'. USA government simply declared that the money was created.
When I started to study “the economy” that is when I found I had to conclude that the real economy is detached from the reports.
Damn
The government is always lying to us. It is the way they operate. So don't listen to the mainstream news media because they are just shills for the government propaganda In the sixties there was the mantra-don't trust anyone over 40 or something like that. Now the mantra should be NEVER TRUST THE GOVERNMENT!
There is way too much math laundering going on.We are not getting the real math.On anything.Or the truth on way more stuff going on.That really matters for the people.
I work for the largest recruitment agency in the country. These jobs that he's saying he doesn't think are real because so many people are getting reject, that's not true. The jobs do exist. But we're getting 500+ applications for every job we post. So we literally just pick resumes at random, and the first one we pick up that's qualified gets the job. And we don't have time to contact the other 499 people to tell them they weren't successful
Wow
1 job, 500 applications… sounds like people applying for a lottery
Your company should make the time to reply back to let them know
@@teresarohlin1859 Surely you understand how ridiculous that statement is right? Like think that all the way through
So you have an automated message to let applicants know their application is being process but you don't have an automated message to let people know that they have not been accepted. Very interesting.
Todd, I run a show out here in LA where I accept bullion payment if people want to pay that way. I have a little story I tell after the show, regarding the movie “home alone“. When Kevin gets left home alone, he goes to the grocery store and purchases eight items; milk, aluminum foil,, a package of army men for the kids, and a few other things. The total bill came to $19.83. That same bill in silver, in 1991, which is when the movie was released, would have cost about 3.6 ounces of silver. today those same eight items (all of them still on the market)cost $78. But today, they only cost 2.6 ounces of silver.
EVERYTIME the Federal Government spends money they do not have, they are increasing the number of pieces of paper in circulation - INFLATION - STOP SENDING BORROWED MONEY TO OTHER COUNTRIES!! WHERE in the US Constitution is that authorized??
Unless you go to war. Then the debt drops back to zero.
Some of that money is government contracts ..it’s not cash dropped from the sky into bank accounts
It isn't authorized in the Constitution. This is how the federal government set up the monetary system and once we were off of the gold standard, all bets were off!!! The government can print unlimited amounts of money and cause inflation to drive the value of the dollar in our pockets to zero!!!!
The m2 money supply (actual paper circulating supply) is the lowest it has been since 1929. They are taking paper money out of circulation. Digits on a screen do not increase supply. Dollars are becoming increasingly more valuable everyday. Banks DO NOT have everyone's money. If a bunch of people try to cash their checks at once they can wipe out a bank. It's worse than you think but you don't understand how it works. T bills are sold by Janet yellen and that is how they increase the debt. And another question. If they can print unlimited money then why do we have to pay taxes???? It's all an illusion.... Money is created when you walk into a bank and ask for a loan for say 100k. Bam. 100k has just been created. It is now your responsibility to come up with the actual money plus interest.....
ALL Foreign Aid is Money Laundering and politician kickbacks.
The real reason this depression will be catastrophically worse is that in 1929 we were still united as a common people with a common religion, history, language and traditions. We have none of that now. Our society today is like a giant bomb with an economic fuse.
John Calhoun rat experiment. Research it if u wanna learn how it will play out.. animal nature.. they ran that experiment 1000 times I think. Same outcome every time...😢
"The real reason (...) of that now."
Correct. Not to mention the decrease in readily available resources.
Yep, and it wasn't that america caused the great depression. Shows what you know!!!. Keep voting for Trump and you'll know all about the next depression..perfect idoit that you and america need!.
"Our society today is like a giant bomb with an economic fuse." -whoa, well said.
Don't forget lack of self sufficiency. In 1929 a huge amount of people were still rural, had gardens, etc.
There's only one path that this leads us down. Unfortunately. I don't have to mention it. We all can feel it coming. Poor kids!😢
Peter Schiff is one of the few economics minds who gets it and speaks the truth.
Thank you very much I am watching from Egypt and I'm completely convinced we are coming closer to difficult times globally.
I believe you totally, but my question to you is how's it going in Egypt and the middle east! Is your economy taking a shit like ours is? Are your leaders telling you everything is fine? It's all our faults for believing them! The time has come to change the courses of our destiny! Fight and we might have a chance, do nothing and nothing happens... What is it worth to have one chance and do something with it or do nothing! Which life do you choose good sir?
You can be sure that globaly we enter difficult times. My fear is more that some Government of certain countries might see war as an option getting over the crisis and come out better than others.
How is egypt economy? Im from Indonesia, our economic data still shows 5% growth.. but we collectively feel that the economy is shrinking.. the gov spending is insane..
Have no worries. GOD will provide his children.
I don't believe my country is an empire,but I also don't believe we are near a collapse,you mentioned difficult times,I do believe that.God bless you brother,and God bless good people.
I love that he kept a saying the word “Mistake” about what the government is & has been doing forever. It’s no mistake, these monsters are going exactly what they want to do
yeah thats the one mistake peter consistently makes. hes very naive like most boomers and thinks the govt is working in good faith.
@@user-im6fy4qp6m"yeah thats the (...) in good faith."
Or perhaps he thinks he have to phrase it like that to get away with it.
No, the first comment was correct. They are monsters and they have all become wealthy at our expense. And Biden has committed treason multiple times. He is the puppet and the puppeteers are actively and purposefully destroying the country. We are about to have a SHTF moment.
Part Of A Plan. Just Keep Paying Attention To Facebook & Tik Tok And Not Your Gov't 😅😅😅
Juden kabal
Great Show...One for the Archives. Will be great for future generations to look back on and learn!
I love it when you interview Peter Schiff. Next time can you ask him about Silver? I've been buying it because I can't afford gold. Also, what about nickel? It seems nobody is talking about nickel. Thank you for your honesty here. I have family that quit their jobs to sell commercial real estate and I warned them but nobody listens to me... One family member made a deal with FEMA so he's buying up abandoned hotels here in AZ and is making a killing. Depressing.
Do we need the government to tell us we’re in a rescission? If you have eyes and hears, you should be able to tell despite the lies from our government
Exactly but majority of people are stupid
@@baldheadjamaican2551everybody’s brainwashed. They won’t believe it til it’s already crumbled all the way down…
Yeah that’s right
So true
Not that it won’t happen, but I’ve been listening to this guy 20 years ago, saying the same thing
The US economy has already gone over the edge of the cliff. It can’t be stopped. We are in the very last days of the American empire.
Nah, but nice try.
It's over for the USA.
Good
Oh no does that mean we get to play MAD MAX for real . Hell ya I'm in.
100% agree
Peters straight talk and no nonsense style is so refreshing in this arena.
Excellent interview with great economic downfalls warning and awareness.
I know two people who have lost their jobs. One I personally know and another from someone a friend knows. I didn’t think much of it until Friday afternoon. I was on the way home and some guy was lying on the expressway wanting to end his life. After getting him off the road and talking to him his reason was because he lost his job. I told him that a job that wouldn’t think twice of him doesn’t deserve him sacrificing his life, family first.
Family First, wish it was that way With no job no family The fed has a mandate for full emploment it has failed,,,,,
@@user-le4nd9bu5xit also has a mandate of price stability.
Thanks for saving someone 's life.
Free room and board in heaven and no high inflated prices !
@@maximumoverload5134
🤣🤣
I speak Spanish and other languages since age 14. Over 62 years coming to Mexico, all
50 USA states, and the world on my own dime. I am in my 82nd year.
My rent in Queretaro includes everything a maid, security, wifi, and whatsapp.
I stocked up on food, and I use La Comer for home delivery. My rent was 14K per month and after 14 months 15K per month and the USA cost was $672 to $910, as the dollar falls.I save and give to honest none beggars. live in Queretaro next door, since 2021. This is 70% less than the USA in 2021. I am in my 82nd year, and moved here at 79 in 2021. I have been coming to Mexico, mainly Acapulco for over 62 years, since age 20. I speak Spanish as a second language since age 14 among many other languages and visiting all over the world on my own dime.
Great video.
I survived the good and bad of the USA for 79 years. I am not afraid of anything, and I support myself, and help honest none beggars. Good and evil is everywhere. I moved to Queretaro in 2021 at 79, and God warns me on about evil and dishonest monsters. This is my 82nd year with GOD as my guide.
Happy in cool Queretaro since 2021. Over 62 years traveling Mexico, mainly Acapulco, all 50 USA states and the world on my own dime from working.
acajudi100 for my RUclips videos.
My dad warned me about this 20 years ago. He would be 110 if he was still living. He seen it happen in the dirty 30s and he said he's seeing it happen again.
All by design
yes we will have a real bad depresion worse than the 30s
My brothers are brilliant masters of economic and 20 years ago they decribed the future. I didn't really get the vision they gave and it is much worse than 1930 now they gave me the nice version. lol
Heck ive been waiting for this since 2018-2019.. but covid came n ruin it . Damn.. now they need another plandemic to keep the dollar afloat..
This one is different This is spiritual and it’s going to be a days pay for a loaf of bread . Do people really know what it’s going to be like when people can’t get food for their children We already have many crazy’s now . Lock and load it’s really going to be bad . Pray for America pray for the world Yahweh s wrath is coming soon pray you don’t live in a city
Peter has been the light in the tunnel and is spot on now!😊
Mom went to the food pantry for donations. 3 hr line to get food. USA is not looking so good.
ALL YOUR TAX $$$ USED IN ISRAEL AND UKRAINE
Personal income tax is a scam of the highest order.
So are exorbitant property taxes!
ALLLLLLL TAXES..ARE CRIMINAL.....!!!!+++++
All taxation is theft
It's better than an autocracy which I'm afraid is where we are heading
But the trade-off with no income tax is that you get high HOA fees, high property and sales tax, and high insurance rates. Primary example: Florida.
I play this game called how long can I go without buying groceries. It's not a fun game.
So do I. And I am winning! Last week, the cashier at my local grocery store asked me where I’ve been (as I paid $4.99/lb for a pepper).
Same…
One day, that game will become a reality . It'll be called the Hunger Games / mad Maxx
move where you can have a garden and small livestock, hunt, trap and net fish. Your food bill will be negligible Or you can do what I did. I lived in an old mini-van for 3 years on just the $80 per week. sale of my plasma. I got around on a bicycle, cleaned up at the $10 per month, 24-7 Planet Fitness gym, ate free at the SA mission and a church. You can be saving every dime of your salary AND every dime of your $12k per year college loans. Buy gold with the money.
I play that every other week, no fun but my savings going up!😊
Americans thisnguy Peter Schiff is a gem. I am a career banker and know that he is talking sense based on fundamentals of banking and economics. Please pay attention to his views and give him the respect he deserves. US needs more such people at the helm of affairs to protect the interests of all the US nation and its future generations
Thanks so very much for hosting Me Shiff and to such usable detail!!
I was saving money to buy a home. While waiting for interest to lower, my rent went up 1k, food and gas supper expensive and make things worse my hours got cut. It’s so devastated since I already used most of my savings My dream went down the drain😢.
I'm sorry to hear that.
"I was saving (...) interest to lower"
You might be better off buying when the interests are high and, somewhat correspondingly, prices are low.
Thank a dem
@@Aceman597 not everyone is in your country yank, we all just suffer the consequences of the petro dollar
I've owned several homes over my lifetime. But the bottom line even when it's paid for if your state has an annual real-estate taxes then your home will go up for sale if you are not able to pay them. Therefore we never truly own our homes, we are leasing them. When you own just about everything else you truly own them once they are paid in full. I've paid off mortgages on my homes but they will never be paid in full, because if I don't continue to pay my annual property taxes, they will take it away from me. I believe property taxes are as illegal as federal income taxes are. The federal reserve is one huge central bank owned by a group of bankers. And the IRS is its collection agency. I would venture to bet most people don't realize that there weren't any federal income taxes prior to the federal reserve.
My grandfather was an aerospace engineer. Had a stay at home wife. Nice home with a pool, two cars, vacations. My father is an aerospace engineer. Struggled on one income. Now today an aerospace engineer can afford half the house that my dad could when he started. Within 60 miles of where I grew up this would mean a tiny house that is falling apart or needing to commute two hours to work each way. Many people I know on advanced careers in their mid 30s tell me they feel like they will never own a home. It's sickening to know this is all policy driven.
That's awful being that well educated and having that much potential. Seems like those jobs should be the better paying jobs of the future not the past. Instead it's cyber security.
My building has some seniors in it.
These people worked 30/40/50 years and cant afford food a week before their next check....Its not cool
Maybe they voted for that.
The purpose of our lives is to help one another NOT feed into a system that props up only the wealthy. We are ALL ONE and no life is less valuable than another.
Back in the fifties, my parents had purchased a 3bd, 2bath, 2 car garage track home in San Diego for 15K. My father had supported 7 of us on just his middle income salary and I had a saving acct. that had earned 7% in interest.
Back in 1995, I had an American Express card with a 2% interest rate. You can't get anything under 19.999% these days.
I should build time machines
Back when we made things.
@@mac6452 yeah and those things that were built well were also truly sustainable in comparison to the junk that is made today . .. . . . .they preach sustainability but they don't know what that definition is .
And that's exactly why all the California families are Rich now, Old money from selling those houses for a million dollars, many multiple times.
I got a job in 2020 after leaving the military that paid me $55.00 an hour, and I had no prior experience, though I had very transferrable skills, so this was entry level.
Fast forward 2024 I'm looking for a the same job with 4 more years direct experience and most companies are not hiring. The ones that are barely want to go above $35.00 an hour.
This economy isn't even holding the line on wages. It's simultaneously raising prices and lowering wages. Horrible.
Edit:
A lot of hateful people resenting that I got out of the military and did well for myself, like I don't deserve to notice how my circumstances have changed. You're not going to get anywhere in life hating on other people's success, but please do continue for my entertainment.
_It's simultaneously raising prices and lowering wages._
I hate to break this too you, but It's been like that for almost 5 decades.
Tech companies are laying people off left and right. You admitted that you were overpaid in 2020, and now the chickens came home to roost.
BOO HOO!! POOR PITIFUL YOU!!
@@betsyogle8224I hate to break it too you but this is something that is ultimately going to effect everyone unless you’re the top 1%
@@compugasm It wasn't like that from 2016 to 2020
He’s a brilliant man!!
This is why, I’m outside now planting a good sized garden vegetables and planting in various citrus trees, raising chickens, looking to buying some land to dig out a big pond to try my hand at raising cat fish…building a medium size green house for growing vegetables in winter season…
Great planning. Also it's good to practice these skills because gardening is a skill. Learn to can or dehydrate your yields to make it least and to use for longer. It's healthier than all that GMO fake food in the grocery stores. Learn more about our forefathers farming technics. They were able to survive centuries without govt. I heard leaving seeds out in the sun for 3 days gives them energy and strength. Also I heard you should plant them 3 days after the full moon. Good luck.
All certainly admirable, however, what happens when the marauding bands of people with nothing sweep across your property.
@@compassioncampaigner728 Guns and good neighbors .
@@uredskivid
Depend on it....they will have bigger guns and way more hungry troops ( people ).
Good idea but i believe all that will be banned like pond with a fish and vegetable gardens.
Collecting Rainwater is illegal in most states
The attack on Peter Schiff's bank was wholly political. Like the Canadian truckers. We are living in Soviet politburo times where our own so called "democratic" governments with so called "values" are targeting their own citizens for a difference of viewpoint.
Where they would send out brown-shirts in the 30s they are now able to "erase" you socially where your opinion does not count. Soon (like right now) they will attack you thru law-fare and some type of risk assessment by your thoughts post alone. That system of control is in place right now. 1984 time is Here Now..
Yep! 100 percent.
He's bank was probably the only one that was solvent!
These aren't legitimate governments their rogue regimes period
In behalf of the private sectors gambler class......
Very important message thank you
My question is why the Central Banks buy GOLD but they don't want Citizens to have their own Bank like his Bank using Gold. What's happening to other States that are using Gold and not allowing the CBCD Coin in their State. Especially since the Federal Reserves Banks are not a Government Agency so why does the Congress let that Private entities keep stealing from its Citizens?
I tutor math and science in a GED program. We meet two times a week. I asked a young woman who had been coming out two times a week why she wouldn't be coming to class on Thursday. She said she had a second job. I asked if that was to get 40 hours. She said her main job is 40 hours and her second job, Thursday through Sunday, is 20 hours. She said her husband had a 20 hour second job in addition to his 40 hour job. Both are working 60 hours at minimum wage. She is hoping to go to university and get her nursing degree so that she can get a better income.
So sad ..I hope she gets a break
At age 65 I worked 10 hrs. a day 6 days a week to survive. 60 hrs. total.. had to give 50% to the govt.
Your student will be success she has a great work ethic and goals. This isn’t that sad. I grew up watching both parents work a full time government job and come home and work part time jobs. And when they weren’t working at those jobs they were gardening, renovating, cleaning up and cooking. Now I have that work ethic and I see it really pays off.
Must be an immigrant. They are so hungry.
Wages peaked in the 1970's...although corporate profits have risen real wages has not. People are working 40/50 hours a week, people are showing up to work and cant pay there bills. Many cant buy a decent car, substandard housing etc.
Change the name of Washington DC
to Corruptionville
I call it Washington, District of Criminals.
Mordor on the patomic
and Congress, the chamber of deceit.
Call it Pottersville DC.
very easy to blame others... did these politicians got put there by themselves? are they all dictators? no. people voted them in. people are foking dumb! u vote for corrupt politicians and what u expect ?
Peter Schiff is not just a smart guy, he is very honest one too. And that's really makes him stand above the masses in his field!! He is Truly Amazing. thank you both💥❤🔥💐‼
People arent geared up for self sufficiency as in 1929. Then small family farms, most gardened, canned did manual labor. Better helping attitudes n work ethic. Etc.
Problem is we are facing 2024 prices with 2004 wages.....we need prices to come down to match our wages
Prices have risen much faster than wages
We rejected "I Am" for kings, idols, and false gods.
"Few will find it."
That’s truth.
When I see an Obelisk in the background I see the magicians
True. The biggest one is running as dictator and people are ok with it.
Hallelu Yahweh, praise Yahweh
Broad is the road that leads to destruction …many are on it
Thank you Sir and the interviewer🙏
Thanks for that, views and opinions.
It’s very simple. Over 70% of the US economy is based on consumer spending. Credit card debt is at a record high and savings are at a record low. Once those hit a wall, spending (and GDP) will contract, corporate revenues will drop, and layoffs and unemployment will rise. From there, it’s anyone’s guess how deep the downturn will be.
I'm ready to get on with it because the chance it isn't coming is zilch.
It’s inevitable but the government keeps up with the extend and pretend
Yup
I know a friend paying $350 per month in just credit card debt. Serve him right really. Always eating out, drinking, buying fancy clothes but using other peoples money to pay for it.
It's permanent
This will be worse than anything we have faced 😭
Even since Jimmy Carter? WOW!!!!!
Thanks to the private sector.......
I can't wait...... I'm gathering my popcorn as I speak. It will be the only thing that forces folks to straighten up and fly right. Just like a junky has to hit rock bottom before they can turn around.....
@@TheGregWallace Too painful to watch! Were you there in the late 70's? Terrible!!!!!
So the illegals are going to stand around doing nothing . 😮😢
I’m a contractor in Southern New Hampshire. I’ve noticed a big slowdown in the last month. I’m usually booked out for 8 to 10 weeks. Always been that way. Now I’m only about four weeks out. I think this is the beginning.
The most knowledgeable and honest person in my life to hear from the U.S.A citizen.
Peter Schiff, in almost a decade or more of watching many of your videos about the subject matter, economy meltdown, crash, etc, this is the only time that you really made me admire you from bottom of my heart man, and yeah, women now are slaves, not liberated!
I agree with your comment. The gold deposit with card use of it got my interest. Sadly the election shenanigan agenda could change investments, so I'll wait for the results,
I wonder how many Moms would choose to stay home and raise their kids if money was not such an issue. It’s an extraordinarily important job - raising good citizens.
@michellefraser3463 "they" do not want citizens. They want slaves. Hence, the dissolution of the family.
We've always been enslaved
Thank you for this video..
I would absolutely be living at home if I wasn't splitting rent with another person. Things are extremely broken
It never was fix we been living off other ppl back ova here laffin and Keke keing while the world's workers been producing
I was laid off in November 2008 at 56 and couldn’t get unemployment because my pension was more than the benefit. I never was able to work full time after that.
Just enjoy your life 😊
Spend a few months in Thailand and see what you think.
I see that big tidal wave is coming and it will hit us very hard, the future of employment is in contracts. No obligations from businesses, you will work for them until they need you. We are only western country that the law doesn’t require employers to pay vacation to employees.
At least you getting a pension...thats unheard of on a job nowadays.
Man that sucks. Sending my prayers to you
I'm paying $6.89 10¾ oz bag Doritos
King size candy MMS Mars bars $3.99
2 ltr Pepsi $3.49 - $4.19 in some stores
Quart of Oil $7.49
McDoubles are $4 Lg Fry $4.59
The fries are more than the sandwich 😡
Very clear! Thanks!!
I have been unemployed for 5 months living in an affluent northwest subrub of Chicago in an area where its called the Golden Corridor of jobs with an MBA. I applied for 700 jobs looking for a job that at least paid 60k a year. I should be able to get a job paying 60k with an MBA. AI is removing alot of the jobs off the market, making it even harder to find a job. Most of the jobs are temporary where they can let you go at anytime. I got an email for a temp job with the secret service today paying only 60k year to protect the vice president wing of the White House. I did not know that the secret service used a temp agency for employment in Washington.
Sounds super suspicious usually you have to have worked up in security clearance.
LOL lots of scam jobs and scammers looking to exploit unsuspecting people's PII.
The fact that LOWES has just just announced the APR on their credit card is going to 31.9% effective 3/22/24 should tell us where our current economy is heading. I'm paying mine off this weekend.
Also Home Depot. Just got a mail last month saying interest is 29.9%. Luckily paid off my 24 months interest free.
YOU WILL BE PUNISHED FOR DOING THAT....!!
THAT'S ANOTHER ILLUSION OF THE P W C B..... EVIL POS.....!!!!!!!
@@yagballs676I was under the impression that rates that high were unlawful.
I'm thankful we don't have any credit cards. They have destroyed many people.
@@yagballs676 holy crap, I remember when those kind of ludicrous rates were penalties for people who missed their payments.
The average person can't preserve their wealth because everything they have is tied up in the house the bank owns, the truck they drive, the tools they use to earn a living, the food to eat, the gas to get from A to B and then back to A, etc. Where's the extra supposed to come from to preserve wealth?
Fantastic interview
Our federal government officials, Presidents (past and especially present), Senators, and House Representatives, are clueless. They just keep spending and spending, like drunk sailors.
They have enough money not to care, not to know.
They know n they want it . Crisis happen then CBDC is happen n most people will agree to use CBDC.
That’s not fair to drunk sailors; at least they’re spending their own money 😂
The federal government doesn't budget, they just pass omnibus bills. 5000 pages of spending with no accountability but a lot of payola
@@michaelclarke6402 Yep, the "CR to Omnibus" cycle has been going on since 2008. Have had a CONSTITUTIONALL-REQUIRED, properly appropriated, passed by both House in Congress budge since 2008... And THATS where the $34T debt comes from.
And the politicos like it just fine. G-D traitors.
As an idiot that makes big sticks into little sticks, then gives it away, I would like to respond to your question relating to why the price of mulch has gone up.
As one of the larger bulk producers in Houston, Tx. For over 20 years I do have some insight.
Firstly, when you comment about machines we already own, please understand that a grinder has a very short life cycle. It begins to self destruct from the day it’s born, due to the extreme operating environment it operates in.
High temperatures, extreme vibration, high airborne dust that it ingests all day, not to mention undesirable tramp metal contamination that will invariably find its way into the hammer mill, all combine to give it one of the lowest life spans comparable to other equipment used in manufacturing.
I used to pay around 650 to700 k for a 1000 HP machine suitable for this type of operation around 8 or 9 years ago.
This same machine, with virtually identical design, engine power and options is now over 1.1 million dollars.
Please keep in mind that a large grinder, designed to recycle stumps and trees, and has the ability to regrind the material in order to produce what you call a “junk “ product, will in many cases consume up to one gallon per minute of diesel fuel.
That’s correct, 60 gallons per hour.
Another issue is the continual addition of regulations put into effect for mulch operations.
Including, bonds to guarantee the disposal of any accumulated green waste or mulch products, should the operator shut down, permits relating to the storage of combustible materials, the storage of fuels and other materials.
Also lots of record keeping and pile temperature monitoring at the State and local level. Keep in mind that, this in a reasonable state to do business ( Texas), I can only imagine the levels of red tape in other states.
The next issue, just as in every other business, if you want to keep employees, you must keep up with the salary adjustments in your area.
That’s kind of tough when even McDonald’s down the street is offering 15.00$ an hour for no skills, and even a cash bonus just to come in and fill out an application.
This equipment requires extensive maintenance and consumables ( wear parts) . A typical oil change, not including air filters is around 1,000.00$
A complete air filter change is now over 1,000.00. $ as well.
The wear parts these machines use including, Hammers, Teeth, sizing screens, bolts and nuts have all basically doubled in the last 4 years.
Engine parts and hydraulic components have also gone through the roof in the last few years, and in some cases are still hard to get.
Lastly, logistics have also become more challenging, still very difficult to find a qualified driver ( able to pass a drug test) and also, must meet the strict requirements of the insurance company.
No longer can you interview a driver, check his DMV history and drug test him and put him to work, you must now submit his information to the insurance company, and they must approve him BEFORE he can climb in the seat.
Insurance premiums on heavy trucks are now over 1000.00$ per month per truck now, and that is with a good history.
government is the problem not the solutuion. good job laying that out.
I’m 71 and could just puke over what governments worldwide have done to us. As a former business owner my hat is off to you dealing with all this b.s.
Quite a detailed report. I think the end product is garbage tbh. Spreading so called mulch to so called do what? Even with landscape fabric and drain rock good luck keeping weeds out. And the stuff that parades as soil with these so called forest products is just not dirt. I got some at Ace a while back it was worse than the dirt in my yard.
in the uk, the local council put up green camera zones, and you pay £175 a day to pass. i simply add £175 to each customers bill, plus a 10% admin fee. so its the same money going around and around and around...
That's a tough business. Btw, if a machine was $700K 9 years ago and now it's $1.1M it means the average price growth was 5% annually. Doesn't sound bad, but actually is pretty bad.
Thanks guys.
V well explained and informative
My dad has been saying for years that the fed is kicking the can down the road. As was mentioned, it always makes everything worse. It's going to be the Greatest Depression I'm afraid.
I'm afraid.This is not capitalism, it's fantasy land. The fed's need money...just print it, the banks need money just print it. Eventually it will implode.
IMO, will I think WW3 will be started to erase the debt, and erase people.
This is one of the best videos I ever watched where facts has been explained very well and clear. I am an Egyptian living in Saudi Arabia and been observing this facts during my visits to USA and China, thanks gentleman
Do you work as engineer in KSA ?
It's an amazing truth. People must pay attention to this.
Good conversation
I am from Malawi, Lilongwe. What is so sad is that USA was considered the light bearer. Now as it turns out the guide is now a blind guide and all following fall together with it in the same pit.
Thanks much for the education.
Wish you all the best guys.
United States as never the light bearer. Rather it was an evil hegemon out to devastate poorer countries in Africa and other parts of the World, looting and causing destruction. "United States prince of darkness."
This is why we need more African nations joining BRICS, it will be the best decision for any country to make not just African. The US empire has long been in a position of blind leading the blind ever since Nixon unpegged the Dollar from Gold standard.
Take care
Greater Depression, 1930's rural America was off grid self sufficient lifestyle. Yet, half of the Farmer/Rancher Families lost everything,,, homeless.
Those who has bank loans lost everything
And "no debt "owners" attached to hoas criminal or not..
Peter is a bonafide good guy. More power to you Peter!
Amen! God bless for who aligning with the truth!
In 2005 there was a program on the Dutch television called the day the dollar crashes . It was a program in which a Dutch journalist created a scenario in which the dollar would crash in 24 hours. He travelled to the US and Asia and showed his scenario to financial experts which found it a likely scenario. In that program Peter Schiff and Steven Roach made their appearance and made very clear statements that the US will get into trouble. If you do a google search of crash 1929 you can look at a BBC documentary of the crash of 1929. I am not surprised the same will happen again. Not only crashed the stock exchange with 90 % but there was a banking crisis in the US where at least between 2000-3000 banks went bust. The same problems that caused the crash of 1929 will case the crash of 2024. It’s all human nature we humans never learn.
Calhoun rat experiment
The Fed Reserve polices PRIOR to the CRASH of 1929 was one of the BIGGEST factors contributing to the Great Depression...FACT> History repeats itself!
It wont be an immediate collapse we saw what happened after 9/11 and they just gave the banks 1's and 0's to keep them solvent. They want a slow controlled collapse to take advantage and transfer as much assets as possible out of the hands of the little people for themselves.
Maybe that’s what the demoncraft wanted in 2024 if Biden lose then the crash will be on Trump and blame Trump for the crash
"words never listen and teachers ohhh they never learn..."
The thing about the job search is so so so true. My company left California which left me hanging. I applied for several jobs for MONTHS. Well qualified, couldn't even get one. I finally had to settle for a security job which I have never worked in this field before and it's crazy. I am in so much debt from trying to survive and not go homeless, just tired, and even sick needing surgery but what can I do? 😢🤦🏼♀️🙏🏼
The thing is US leaders are so disconnected from the real economic reality of the average US citizen, as Peter Schiff so humbly puts it, "its not that these people are dumb alot of them have high IQs" but rather it's because they so indoctrinated in their held political and economic worldviews which are disconnected from reality so much that they struggle to reconcile the economic abnormalities and errors caused by years if not decades of bad decisions especially ever since 2008 GFC. USA will never be a great country again not under the current delusions of these so called leaders, the empire is crumbling.
Come to Africa I'll marry you as my second wife.
Come to Jesus
Leave Cali
@@roxiecariere5713 Easier said than done... Unless you will help me with the total cost of moving and a new job wherever else I go.
Not like I want to be here 🙄
Even government hand-outs don't make you "flush."
Thanks
They said buy gold.
I bought dirt.
They say buy silver.
I bought water.
Now I sell mud bricks.
Brick stacker.
When i'm dead, they can have my empire of dirt.
That is so true about women before the 60's working. Some women went to college or had careers and jobs but the majority were full time homemakers. My mother never worked. Because Dad's mother and Mom's mother had to work in factories and leave kids home alone, my father wanted to give my mother the privilege of not working. It meant you were a good husband who could provide. I was the last generation of girls raised to think that having a way to make money was optional. I was told by both parents that I'd have a husband and family and didn't need to worry. I went to college anyways because I loved learning. So glad I did. Homes were so much easier to buy soon after WWII. Jobs were plentiful. It is almost impossible for young families to buy a home today here in Southern California.
You were lucky to have your Mom at home, mine worked 2 jobs in the sixties,and right through till she was 75yrs old. She only had 6 weeks out of work when she had a brain aneurysm at age 42, and went right back to her 2 full time jobs. They had given her 50-50 chance of surviving the surgery,never mind going back to 2 jobs, she was my hero.
She sounded like a wonderful, amazing mom and role model. @@anitacordeiro372
Socialists do not own homes. The government gives you a voucher for a home. (called rent assistance now) The government gives incentives to build low income housing. The developer goes under and the government takes over the housing. Long lines now for low income housing. 1 to 4 year wait to be seen on your application just in news this week. If jobs so available, why are tent camps growing and not going away? Our government does not lie to us.
You mean Southern Comiefornia
@@anitacordeiro372 Great mom! Always cherish her.
What a wonderful man he is. Peter Shift