Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.

📢 Please Support Our Sponsors:

- My Patriot Supply. Save almost $300 on the complete Winter Prep Bundle, with emergency food, heat, backup power and light. Get yours while it's still available at https://preparewithpeter.com

Consumers are more worried about their finances than at any point in 75 years. Washington calls it a boom.

Peter Schiff takes apart the claim that America has the greatest economy in history. The University of Michigan's current conditions index just fell to an all-time low in a survey that dates to 1951. Households were less worried during the Cuban missile crisis, the 1970s gas lines, 9/11, the 2008 financial crisis, COVID and the 40-year inflation high of 2022 than they are today. Loan delinquencies are the highest since 2010, and the biggest wealth gains are going to households headed by someone 75 or older, because the same policies that raise the cost of living also inflate the stocks they own.

Peter argues the weak economy explains the week's politics: a diesel deal with Russia three weeks after a law authorizing 100% tariffs on buyers of Russian energy, a pledge not to bomb Iran until after the midterms, and a committee of Trump appointees investigating Fed governor Lisa Cook. He also covers Fed minutes in which officials concede policy is not restrictive, a 30-year Treasury yield that reached 5.73%, why 7.4% mortgages are a return to normal, the week in gold, silver and Bitcoin, and why barring Microsoft from sponsoring foreign workers sends those jobs, taxes and spending overseas.

Chapters:

00:00 Record Low Confidence

01:03 Trump Boom Claims

03:39 Michigan Sentiment Shock

06:58 75 Years of Crises

11:19 Great Economy Fiction

11:36 Winter Prep Sponsor

12:46 Polls and Debt Stress

16:19 Who Benefits From Boom

17:54 Russia Diesel Flip Flop

22:29 Iran Timing and Markets

24:16 Rename AI to SI

26:06 Lisa Cook Probe Committee

28:51 Mortgage Fraud Politics

30:53 Fed Minutes More Hikes

32:02 Bond Yields New Normal

33:05 Bitcoin Real Estate Debate

36:40 High Debt High Rates

38:15 Weekly Market Recap

39:03 Gold Silver Buy Zone

40:27 Bitcoin Anniversary Reality

42:50 Treasury Yields Reality Check

44:43 H1B Visa Backlash

46:30 Who Owns The Job

52:42 Remote Hiring Consequences

56:29 Wrap Up And Sign Off

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

Free Reports & Market Updates: https://www.europac.com

Book Store: https://schiffradio.com/books

Sign up for Peter's most valuable insights at https://schiffsovereign.com

Schiff Gold News: https://www.schiffgold.com/news

#PeterSchiffShow #Inflation #Economy

Tariffs failed, imports hit a record, and France is rioting. Peter Schiff explains why America's sovereign debt crisis is next.

📢 Please Support Our Sponsors:

- Noom. The Noom GLP-1 Program starts at $39 and is delivered to your door in as little as seven days. Go to https://noom.com to learn more.

- HomeServe. Join the millions of customers who trust HomeServe. For 50% less your first year, go to https://homeserve.com/gold. Savings compared to renewal price. Void in Florida.

- Function Health. Get more insight on how your body is aging with 160+ lab tests. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.

Imports hit a record in August, the tariffs failed, and France just showed America where runaway debt ends.

Peter Schiff opens with the August trade deficit: $105.6 billion against a $99 billion forecast, with total imports at a record high despite Trump's tariffs. The tariffs did not reduce buying; they only made imports more expensive. Prices paid in the ISM services survey rose to 74, the highest since July 2022. Peter argues Republicans squandered two years of control and that Trump could have forced a balanced budget by vetoing debt ceiling increases, but pushed to abolish the ceiling instead.

France is the preview. Its 10-year yield of 4.75% now sits below America's 5.28%, its government spends 57% of GDP, and even timid proposals to slow spending growth are meeting protests in the streets. Peter explains why the eurozone failed exactly as he warned in the 1990s, then makes the case that keeping America out of World War I would have prevented World War II. With gold below $4,200 and silver near $60, he argues precious metals are the last safe haven as sovereign debt crises spread.

Chapters:

00:00 Global Debt Unrest

00:42 Stocks Hit Records

02:37 Trade Deficit Shock

07:40 Tariffs Backfire

10:48 Inflation Signals Rising

12:51 GOP Spending Failure

16:28 Veto Power Missed

18:25 MAGA Loyalty Machine

25:09 France Bond Spread Alarm

30:47 France Cuts Spark Protests

32:55 Welfare State Backlash

33:41 Pension Changes Explained

34:40 Healthcare and Sick Pay Tweaks

36:27 Freezes and Token Cuts

38:24 Debt Crisis and ECB Limits

39:18 Eurozone Moral Hazard

43:23 ECB Bailouts and Inflation

44:26 France as US Warning

45:11 Brazil Election Market Reaction

47:38 Tucker Interview on War

49:31 Why WWI Led to WWII

55:13 Unintended War Consequences

01:00:09 Wrap Up and Gold Pitch

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

Free Reports & Market Updates: https://www.europac.com

Book Store: https://schiffradio.com/books

Sign up for Peter's most valuable insights at https://schiffsovereign.com

Schiff Gold News: https://www.schiffgold.com/news

#PeterSchiffShow #Tariffs #SovereignDebt

Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.

📢 Please Support Our Sponsors:

- Odoo. Get your first application free for life at https://www.odoo.com/r/peter

- DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% off

Peter Schiff breaks down the September jobs report: just 29,000 jobs against an 85,000 estimate. July was revised back to negative 10,000 and August down to 133,000. Unemployment rose to 4.2%, private payrolls added 46,000, and average hourly earnings rose only 0.1%, the smallest monthly gain in more than five years, while August CPI rose 0.4%. Peter had forecast both the miss and the downward revisions on Tuesday's podcast.

Peter explains why the bond market sold off despite the weak report and softer August PCE data, even as the odds of an October rate hike fell sharply. The 10-year Treasury closed the week at 5.28% and the 30-year at 5.63%, which he calls classic bear market action. He also covers personal income rising 0.2% against spending up 0.9%, a 4.1% savings rate, and an August trade deficit of $132.6 billion, the fourth worst in US history, which he says shows tariffs have not reduced imports and that importers are the ones paying them.

On stocks, Peter notes the Nasdaq hit an intraday record while 147 stocks made new 52-week lows against 38 new highs on the week, breadth he compares to 1999-2000 and 1973. He responds to President Trump's interview comment that inflation will pay off the debt, arguing it amounts to a sell signal for bondholders, and disputes Trump's claim that he inherited inflation from Biden.

Peter reviews gold near $4,140, silver at $60.37 and the miners, Bitcoin near $84,500 and Strategy's Stretch trading back near par, and argues the data points to stagflation, with AI capital spending propping up GDP. He discusses the G7's 100 million barrel oil reserve release, mortgage rates he thinks could reach 8% this month, risks to housing, autos, credit and Fannie and Freddie, $40 trillion in debt at 5% interest, Janet Yellen's past comments on low rates, and Rick Santelli's final day at CNBC. He closes by urging listeners to buy the dip in gold and silver, with support near $4,000 and $60.

Chapters:

00:00 Bond Crisis Warning

01:02 September Jobs Shock

03:02 Revisions and Labor Details

06:22 Wages Lag Inflation

08:16 Bonds Sell Off Anyway

12:36 Income Spending PCE

15:47 Trade Deficit Tariffs

20:13 Stocks Ignore Rising Yields

26:48 Trump Inflation Pays Debt

28:06 Inflation Pays Debt Claim

29:02 Who Owns Inflation Blame

30:17 Bondholders Get Burned

31:20 Weekly Market Scorecard

31:49 Gold Silver Yield Paradox

34:13 Stagflation And AI Distortion

36:17 Bitcoin Strategy Stretch Update

38:35 Bond Vigilantes Take Over

40:21 Oil Reserves And Mortgage Shock

45:08 Debt Math And Crisis Setup

49:51 Midterms And Voter Reality

51:56 Buy Metals And Wrap Up

Follow @peterschiff

X: https://twitter.com/peterschiff

Instagram: https://instagram.com/peterschiff

TikTok: https://tiktok.com/@peterschiffofficial

Facebook: https://facebook.com/peterschiff

Free Reports & Market Updates: https://www.europac.com

Book Store: https://schiffradio.com/books

Sign up for Peter's most valuable insights at https://schiffsovereign.com

Schiff Gold News: https://www.schiffgold.com/news

#PeterSchiffShow #JobsReport #BondMarket