Boom Bust Season 2 Episode 237 Schiff: US Problems Are 'homegrown', China Is Not the Problem

In episode 237 of Boom Bust's second season, host Brent Jabbour interviews Peter Schiff, CEO of Euro Pacific Capital, to discuss the current state of the US economy and its relationship with China. Schiff argues that the problems facing the United States are "homegrown" and cannot be blamed on China, refuting the common narrative of the US-China trade war.

The episode begins with Jabbour and Schiff discussing the recent increase in US tariffs on Chinese goods and its potential impact on the global economy. Schiff argues that the US is only harming itself by instituting these tariffs, as they increase the costs of goods for American consumers and businesses. He also emphasizes that the real issue facing the US is not China, but rather its own policy of inflating the value of the dollar.

Schiff explains that the current system relies on the US dollar being the global reserve currency, which allows America to print money and export inflation to other countries. However, this policy has led to a massive trade deficit and devaluation of the dollar. Schiff argues that the US needs to shift away from this policy and return to a more fiscally responsible system.

Jabbour and Schiff also discuss the state of the US housing market and its potential for another bubble burst. Schiff argues that the current low interest rates and government-backed mortgages are artificially inflating housing prices, and that a market correction is inevitable. He points to the 2008 financial crisis as evidence that the US economy is still vulnerable to such shocks.

Schiff also comments on the current political climate in the US, including the ongoing impeachment proceedings against President Trump. He argues that this political turmoil is adding to the already unstable economic situation, and that the US needs a leader who is willing to make tough choices and address the underlying problems facing the country.

Overall, this episode of Boom Bust delves into the complex issues facing the US economy and its relationship with China. Schiff provides a thought-provoking analysis of the dangers of the current economic policy and potential solutions to address them. Whether or not you agree with his views, this episode is a great introduction to the ongoing debate over the future of the US economy and its role in the global market.