Things Are Even Doomier and Gloomier Than They Look
Peter Schiff recently appeared on Real America with Dan Ball to talk about the latest employment data and the state of the real estate market. We know there is a lot of doom and gloom in the headlines, but Peter said the situation is actually doomier and gloomier than the headlines suggest.
Dan opened the interview with a tweet from Peter.
Due to a weak #economy and rising rates, the #NationalDebt is over $33.7 trillion, an increase of $700 billion in just over six weeks. At this pace the National Debt is growing in excess of $5 trillion per year, despite official deficit projections of under $2 trillion annually.
— Peter Schiff (@PeterSchiff) November 6, 2023
Dan summed it up this way:
You just can’t keep spending more than we bring in, printing money and doing what they’re doing within the Biden administration.”
Then he asked a question: “How do I keep my head above water with all this doom and gloom, for God’s sake?”
Peter said it’s actually doomier and gloomier than the headlines suggest and pointed out the jobs data.
If you dig beneath the 999,000 private sector jobs that were created, those were almost exclusively part-time jobs. They’re low-paying jobs. They went to people who already have one or two jobs. The number of Americans working multiple jobs soared almost 400,
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
