Worse Than 2008. Worse Than COVID. And They Call It a Boom.
Worse Than 2008. Worse Than COVID. And They Call It a Boom.  
Podcast: The Peter Schiff Show Podcast
Published On: Sat Oct 10 2026
Description: Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.📢 Please Support Our Sponsors:- My Patriot Supply. Save almost $300 on the complete Winter Prep Bundle, with emergency food, heat, backup power and light. Get yours while it's still available at https://preparewithpeter.comConsumers are more worried about their finances than at any point in 75 years. Washington calls it a boom.Peter Schiff takes apart the claim that America has the greatest economy in history. The University of Michigan's current conditions index just fell to an all-time low in a survey that dates to 1951. Households were less worried during the Cuban missile crisis, the 1970s gas lines, 9/11, the 2008 financial crisis, COVID and the 40-year inflation high of 2022 than they are today. Loan delinquencies are the highest since 2010, and the biggest wealth gains are going to households headed by someone 75 or older, because the same policies that raise the cost of living also inflate the stocks they own.Peter argues the weak economy explains the week's politics: a diesel deal with Russia three weeks after a law authorizing 100% tariffs on buyers of Russian energy, a pledge not to bomb Iran until after the midterms, and a committee of Trump appointees investigating Fed governor Lisa Cook. He also covers Fed minutes in which officials concede policy is not restrictive, a 30-year Treasury yield that reached 5.73%, why 7.4% mortgages are a return to normal, the week in gold, silver and Bitcoin, and why barring Microsoft from sponsoring foreign workers sends those jobs, taxes and spending overseas.Chapters:00:00 Record Low Confidence01:03 Trump Boom Claims03:39 Michigan Sentiment Shock06:58 75 Years of Crises11:19 Great Economy Fiction11:36 Winter Prep Sponsor12:46 Polls and Debt Stress16:19 Who Benefits From Boom17:54 Russia Diesel Flip Flop22:29 Iran Timing and Markets24:16 Rename AI to SI26:06 Lisa Cook Probe Committee28:51 Mortgage Fraud Politics30:53 Fed Minutes More Hikes32:02 Bond Yields New Normal33:05 Bitcoin Real Estate Debate36:40 High Debt High Rates38:15 Weekly Market Recap39:03 Gold Silver Buy Zone40:27 Bitcoin Anniversary Reality42:50 Treasury Yields Reality Check44:43 H1B Visa Backlash46:30 Who Owns The Job52:42 Remote Hiring Consequences56:29 Wrap Up And Sign OffFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #Inflation #EconomyOur Sponsors:* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.aiPrivacy & Opt-Out: https://redcircle.com/privacy