Peter Schiff

Trump claims that before he was president, Americans were paying the highest drug prices in the world. But now, thanks to him, we are paying the lowest drug prices in the world. These lies are so easily exposed that I don't understand how he can tell them with a straight face.

Trump claims that no one in history has ever seen growth as strong as what's being experienced in the United States right now and that we are building factories like never before. If that's true, why are our trade deficits the largest in history. Why is our national debt soaring?

Trump claims the fake news refuses to report that we're taking in trillions of dollars in tariffs from foreign countries. The news doesn't report it because it's not true. We're not taking in anywhere near a trillion dollars in tariffs, and American consumers are the ones paying.

Trump is campaigning in Tennessee, telling more lies about how the U.S. economy is doing better now than ever before. Yet consumers are more worried now than they've been in the 75 years of data collection. lies may delight his base, but they'll anger voters who know the truth.

High Debt AND High Rates... America Has Never Faced This Before https://t.co/uiQqyqziYz

High Debt AND High Rates... America Has Never Faced This Before New episode. https://t.co/VCVTogSUFG

Today Trump announced a deal to supply Russian diesel to U.S. and global markets. Just three weeks ago, he signed a law targeting major buyers of Russian oil and gas with tariffs of up to 100%. The goal was to cut off funding for Putin’s war against Ukraine. So what changed?

The University of Michigan’s Current Economic Conditions Index, which dates back to 1951, hit an all-time low in October’s preliminary survey. Trump claims credit for creating the strongest economy in American history. Yet consumers’ assessment of their finances and buying conditions is more negative now than during any of the crises listed below. 1951–1953: The Korean War 1953–1954, 1957-1958, 1960-1961: which included three recessions. 1962: The Cuban Missile Crisis and threat of nuclear war. 1963: President Kennedy’s assassination. 1960s–1975: The Vietnam War, including the Tet Offensive, the 1968 assassinations and widespread civil unres…

Oct. Consumer sentiment sank to 46.3, the lowest level since May, but the current conditions index plunged to 44.7, the lowest ever, while year-ahead inflation expectations rose to 4.7%, a 5-month high. If Trump is correct about an economic boom, consumers wouldn't be so worried.

Murphy's law states that anything that can go wrong will go wrong. Applied to our fiscal situation, interest rates can rise much higher. The annual cost of funding a $50 trillion national debt at 8% will be $4 trillion, resulting in annual budget deficits exceeding $6 trillion.

Even though the financial media is devoting a lot of coverage to the rise in bond yields, there is no discussion at all about just how much higher yields are likely to rise. Some talk about 5.5%, or maybe 6% tops. No one is talking about 7%, 8%, or higher. That's the real story.

It’s now been five months since the OCIF-appointed Trustee and Brent De Jong of Qenta settled the RICO lawsuit in which the Trustee accused De Jong of conspiring to steal $50 million in customer funds. One provision of the settlement foolishly allowed Qenta to retain possession of $9 million in mutual funds, based on De Jong’s promise that Qenta would liquidate the funds and remit the proceeds to customers. So far, not one penny has been returned to customers. It’s a simple process, and if De Jong actually intended to keep his promise, all of the funds could have been returned more than four months ago. Trusting a thief to return what he sto…

There are plenty of legitimate reasons to criticize Trump, you don't have to make any up. Trump clearly meant that paying a little bit more for gas is a sacrifice worth making to prevent Iran from nuking LA or San Diego. Of course, gas is a lot more and the nuclear threat is BS.

https://t.co/ytewkNxqxe

Tariffs Failed. Imports Hit a Record. France Is Rioting. We're Next. https://t.co/YkKKE1zaRO

When mortgage rates were 3%, the monthly payment on a $500K house with 10% down was about $1,900. When rates rise to 9% next year, the same mortgage will cost over $3,600. At that rate, to reduce the payment to $1,900, the price of the house would have to fall by nearly 50%.

Here we go again. Traders have reacted to rising bond yields by selling gold and silver. Gold fell almost $100 and silver dropped over $2, back below $60. Yet falling bond prices and rising yields are extremely bullish for precious metals. Buy now. https://t.co/CY02g7N0Nj

Trump is considering suspending the federal gas tax. Not only will this push up gas prices by increasing demand for gas, but the loss of tax revenue will lead to a larger budget deficit and higher inflation to finance it, which will push up the price of all goods and services.

10-year Treasury yields will soon surpass 5.5%, pushing mortgage rates above 8%. The GSEs insure $7.8 trillion in mortgages with just $194 billion in capital. All it takes is a 2.7% loss to wipe it out. Instead of launching an IPO, Trump will be arranging another federal bailout.

Trump says trade deficits are losses. August's came in at $105.6 billion, and imports hit a record high despite his tariffs. By his own math, America is losing more on Trump's watch than under any president before him. https://t.co/YkKKE1zaRO https://t.co/YkKKE1zaRO

The U.S. trade deficit rose to $105.6B in August from an upwardly revised $92.8B in July, the fifth-biggest monthly trade deficit in history. However, if you exclude the first three months of 2025, when imports were pulled forward to front-run tariffs, and March 2022, when pent-up demand was unleashed by the reopening of the economy following the pandemic shutdown, the Aug. 2026 trade deficit was the biggest monthly trade deficit ever. This proves that despite forcing Americans to pay more for imports, today's trade deficits are larger than ever. By his own standards, Trump is the worst U.S. president ever on trade. Under his watch, the U.S.…

Trump predicts a 1929-style depression if the Democrats win the midterms. If he's right, it's only because a depression is coming regardless of the outcome. Even if it's not a depression, Trump's forecast enables him to blame Congress for every problem that follows the election.

For years Fed chairs and Treasury Secretaries claimed that our debt was sustainable, but the path was not. That unsustainable path has finally reached the unsustainable destination that was always inevitable. Since we chose to stay on this path, we chose the crisis that's coming.

The 10-year Treasury now yields 5.35% and the 30-year 5.7%, the highest since 2002. What should be of greater concern is what happens to the economy when yields hit their highest since 1994, when both maturities were over 8%. Imagine 30-year fixed mortgage rates back above 10%.

The U.S. housing market is dying. Soaring construction costs and mortgage rates mean new homes can't be built at price points most Americans can afford to pay. The market won't revive until existing home prices collapse. Until then expect massive job losses in the housing sector.

Paying off the debt with inflation isn't paying it off. It's a default with better PR. Full episode: https://t.co/IJCOEVb8gI https://t.co/GywjXRBiSr Watch the full episode here: https://t.co/IJCOEVb8gI

Trump says the Democrats must not be allowed to win the most important midterm elections in U.S. history, as we can't afford to go back to high taxes. But we never left high taxes. In fact, with soaring deficit spending, the inflation tax will bite harder than ever!

While the Iran war is an issue in driving up some costs and fueling the affordability crisis, tariffs and the Big Beautiful Bill also contributed to the problem. Of those two, the Big Beautiful Bill was worse, as its effects will be felt long after the tariffs are repealed.

Trump’s share of the blame for inflation and the affordability crisis isn't his mistake of starting a war, but the mistakes he made during his first term by signing off on massive increases in deficit spending during COVID. That's what led to soaring consumer prices under Biden.

Trump set the precedent by offering every adult $5K if the Republicans win the midterms. What if the Democrats raise the stakes for the general election in 2028 by promising to give every adult who earns less than $70K per year (70% of the population) $25K if the Democrats sweep?