Peter Schiff: Inflation is going to get ‘much worse’

RT, Released on 11/9/21

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron’s, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, Wall Street Unspun. He’s also the author of the bestselling books: Crash Proof 2.0, The Little Book of Bull Moves in Bear Markets:, and The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country.

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Jock Holloway

Peter, who imho is one of the smartest guys in the room, says that billionaires are creating jobs. But do they really? Hardly. This is because terms like “job creation” is unadulterated nonsense and is one of the dumbest terms ever “created”.

So let’s finally get this right…jobs are NOT created. If you happen to listen to the fools on the left & to those in the brain-dead media, sure they are. But they also believe in Keynesianism, the tooth fairy, and La La land.

Employing people, whether briefly or for the long term, is simply a means to an end and a way of satisfying your desire and the market’s demand for more labor. Jobs readily come into existence if there is demand for them by those who need them. Job demand develops naturally from what Adam Smith called “the invisible hand”, which is simply the interactions of the marketplace. It’s the demand for additional labor that is the desired result when talking about how people are better able to find a job. And this comes about through a natural process within the marketplace, and not from someone trying to take credit for something he doesn’t deserve.

Saying that businessmen “create jobs” is as ridiculous as saying businessmen “destroy jobs”. Business people are wealth producers, not job creators.

So cmon Peter, let’s get with the program will ya.

Jamie Maus

The owner of the company I work for signs the checks, not an invisible hand.