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Tag Archives: Donald Trump

Peter Schiff: The Art of the Fake Trade Deal

Donald Trump and Chinese Vice Premier Liu signed the Phase 1 trade deal on Wednesday. The mainstream was generally bullish on the news, but there was some underlying concern because the deal did not bring substantive tariff relief. Peter Schiff broke down the deal in his latest podcast, saying that despite all the hype, the deal was really much ado about nothing.The Chinese pledged to buy an additional $200 billion worth of American goods over two years. The Chinese will...

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Make Toilets Great Again

Back in September, I attended a round table where the guest was a major economic advisor to Donald Trump and the participants were economists and other public policy people. I can’t be more specific because of the Chatham House Rule. Under that rule, I’m free to report what I said and people’s reactions as long as I don’t name them. In the Q&A, I said that one deregulatory move I thought President Trump should propose is to get rid of the federal restrictions on...

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NAFTA 0.0

“I have long contended that NAFTA was perhaps the worst trade deal ever made,” said President Trump at an October 1, 2018 White House ceremony where he touted its proposed replacement, the United States Mexico Canada Agreement (USMCA). A little over 14 months later, we are close to having the USMCA replace the North American Free Trade Agreement. Some people are referring to the USMCA as NAFTA 2.0. When we use such a numbering system for software, the higher the...

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The Arsonist Putting Out the Fire: SchiffGold Friday Gold Wrap Dec. 20, 2019

It was an eventful week as far as news goes, but a rather quiet one in the gold and silver markets. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey covers impeachment and the phase 1 trade deal. He also talks about politicians and their propensity to break things and then woo us with promises to fix them. It’s a little bit like an arsonist coming to the rescue and putting out the fire. Except in the case of government, the fire never really gets put out.The SchiffGold...

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Peter Schiff: This Is Not a Real Deal

We have a trade deal!Or do we?We still don’t have all of the details of the so-called phase 1 deal. From what we know, it appears to be rather limited in scope. The US offered to suspend some tariffs on Chinese goods and cut others up to 50% in exchange for Beijing buying more American farm goods and opening up to US financial firms.During a recent podcast, Peter Schiff said one thing we know for sure: this isn’t the resolution to the trade war. He called it more of a “truce.”[embedded...

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Peter Schiff: The Fed Is Not Done Cutting Until It Gets to Zero

Peter Schiff recently appeared on Kitco news with Daniela Cambone to talk politics, the economy and the Fed. He said that no matter what Jerome Powell is saying, the Fed central bank isn’t finished with rate cuts. Lisa started out the interview asking Peter what he thought about the impeachment hearings and Trump’s prospects for reelection. Peter said it certainly looks like the House will impeach Trump. He doesn’t think it’s likely the Senate will remove him from office,...

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Sunk Costs in Foreign Policy

And then there was the manner in which Trump conducted himself personally. In an astonishing display of insensitivity, during a 2017 meeting about how to best prosecute the Afghan war, Trump said in Kelly’s presence that the young American soldiers who had died in Afghanistan had died for a worthless cause. Trump said, “We got our boys who are over there being blown up every day for what? For nothing. Guys are dying for nothing. There’s nothing worth dying for in...

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Highlights from “The Case for Free Trade”

Earlier this month, I gave a talk at Boise State University titled “The Case for Free Trade.” Here’s the video and what follows are the highlights, with the approximate time at which they occurred. 10:00: Every law is violent. 12:00: Gains from exchange. 14:00: My famous Rita’s Friendly Oasis. 19:10: Comparative advantage. 20:30: Babe Ruth. 21:40: McCartney and Starr. 22:25: Dikembe Mutombo. 23:30: Nothing magic about borders. 24:20: Donald Trump–corn for cars....

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Peter Schiff: This Is Going to End Very Poorly

On Nov. 18, Peter Schiff appeared on RT Boom Bust to talk stock markets, trade war and Federal Reserve policy. He said that right now the Fed is doing a good job stimulating the bubbles, but ultimately, it’s going to end very poorly.On the trade war front, there seems to be a lot of conflicting information and continual yo-yoing between pessimism and optimism. The Chinese seem less confident while White House economic advisor Larry Kudlow says a deal is close.Peter said he thinks China is...

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Max Zahn’s Zinger

I shouldn’t have talked to Max Zahn. Hello Prof. Henderson, I’m a reporter at Yahoo Finance working with Editor-in-Chief Andy Serwer on a story about President Trump’s economic performance so far. I would like to speak with you today on the topic. Please get back to me as soon as possible, as I’m on deadline for tomorrow morning. The conversation should take no more than 5-10 minutes. My phone number is xxx-xxx-xxxx. Best, Max Zahn So read an email I received from Max...

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