Monday, September 9, 2019

Andrew Yang has the highest IQ among the current Democratic candidates but USA cannot afford "Free Money". USA is the most indebted nation in the world.



I decided to take a little time out on my Labor Day to record a podcast debunking Democratic Presidential Candidate Andrew Yang. I've been getting a lot of emails about Yang; especially since he did the Joe Rogan Podcast about six months ago.  Once I heard him talk about his ideas, I spent a lot of time on his website looking at a lot of things he didn't discuss with Joe Rogan.  One thing is certainly clear to me: he's a smart guy.  Clearly, if you gave an IQ test to all of the Democratic candidates, Yang would win.

He said a lot of things that certain people find appealing, so I've been asked to comment on him and I've seen other notes about Andy Yang and I wanted to talk about him because, number one, he is rising in the polls. He's now in sixth place among the Democratic candidates; he's polling at about 3% ant that puts him ahead of established politicians like Cory Booker, Beto O'Rourke, Amy Klobuchar, so he's gaining in popularity and I think the trend is going to continue.



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, August 26, 2019

The Fed is going to take rates back to Zero





Art Laffer

Art was going on television all over the place, talking about how the economy was great; everything was fantastic, and, by the way, we should turn over the power of the Federal Reserve to Donald Trump-the President.  Because he's doing such a great job and he would do a better job of managing the Fed because he's doing such a great job with the economy.


Art Laffer: Still Clueless - 

Well, the economy under Trump is in even worse shape that that one.  This is a bigger bubble; it's even more screwed up, and we are on the verge of an even bigger crisis. Well, he couldn't see the last crisis. He is just as blind to this one.  Please check that out.


Monday, August 19, 2019

The next crisis will be a political disaster for President Trump


Click here if the above video does not play


Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, August 12, 2019

Private jobs VS Government jobs

Public Sector Jobs vs Private Sector Jobs 

But there's a very big difference between private sector jobs and public sector jobs, in that the taxpayer isn't on the hook to pay the salaries of the private sector workers. They're working in companies that are generating profits, so the salaries are paid for by the profits that the businesses generate. 


The Government Does Not Generate Profits 

The government doesn't generate any profit. It just has to suck up tax revenue; we have to pay for these.  So it's not a good thing that government gets more bloated and hires more people.  Especially since a lot of government bureaucrats tend to complicate things. They make everybody less efficient.  If we're hiring more regulators to slow down the economy and get in everybody's way, that's not a good thing. I'd rather have a lean, mean government. Of course, that's not going to happen.



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Tuesday, August 6, 2019

Rate Cuts is not going to stop the Bear Market




Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, July 15, 2019

Art Laffer and the Laffer Curve



What is the Laffer Curve ?

Art Laffer is the most recent recipient of the Presidential Medal of Freedom. I think he now wants a job in the Trump Administration.

Art Laffer gained fame back in the Reagan era. He came up with the "Laffer Curve" that he supposedly sketched out on a napkin one day and showed it to Ronald Reagan.  The Laffer Curve basically says that when you reduce taxes, or lower marginal tax rates, you actually end up collecting higher tax revenues because you incentivize people to work more, they earn more, and then they pay more taxes even if they are paying taxes at a lower rate. 

Now obviously, the Laffer Curve bends at some point, because if taxes are zero, you collect no revenue and if taxes are 100%, you also collect no revenue.  Because if you're going to tax somebody 100% of their income, they're not going to work at all. Nobody is a complete idiot - they're not going to work for nothing. So at a 100% tax rate and a 0% percent tax rate the government collects exactly zero taxes. So somewhere along that curve is an optimal point where you would have the tax rate that generates the most amount of revenue.



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Thursday, July 11, 2019

Poland withdraws its gold from its storage in UK




Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

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