Bye-Bye, What Americans Buy - Ep 995

The Peter Schiff Show Podcast

Peter Schiff discusses Black Friday's origin, American consumerism, the nation's heavy reliance on imports, and Trump's economic policies.

This episode is sponsored by:

• OneSkin: Get 15% off OneSkin with the code GOLD at https://oneskin.co
• Lucy: Go to https://lucy.co/gold and use promo code GOLD to get 20% off your first order

Peter Schiff discusses the concept of Black Friday and its origins, contrasting it with current perceptions of economic strength. He delves into the United States' heavy reliance on imported goods, listing numerous products and categories predominantly produced abroad. Schiff criticizes American consumer habits, particularly the reliance on debt for holiday spending, and challenges the notion of economic strength based on consumption rather than production. He critiques Donald Trump's trade policies, immigration stance, and economic strategies, arguing that America's perceived strength is a myth dependent on unsustainable consumption and foreign production. Schiff also touches on the impracticality of Trump's proposals for cutting government spending and tariffs, emphasizing the need for long-term investments and sacrifices to rebuild America's productive capacity.

🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com

🔔 Free Reports & Market Updates: https://www.europac.com

🟡 Schiff Gold News: https://www.schiffgold.com/news

📘 Book Store: https://schiffradio.com/books

👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff

👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff

👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial

👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff

Chapters:

00:00 Introduction and Opening Remarks

01:45 The History and Significance of Black Friday

05:03 Economic Misconceptions and Consumer Behavior

08:57 The Reality of American Consumption

11:01 Trump's Views on the Dollar and BRICS

17:49 The Consequences of Losing Foreign Goods

30:57 America's Dependence on Imported Goods

31:19 The Coffee and Seafood Shock

33:09 Produce and Other Imports

33:59 The Illusion of a Strong Economy

36:42 The Reality of American Imports

38:30 Trump's Economic Promises and Reality

39:14 The Challenge of Reindustrializing America

43:36 Immigration and Labor Policies

49:23 Tariffs and Government Spending

51:59 The Future of the American Economy

01:01:10 Conclusion and Final Thoughts

#AmericanEconomy #BlackFridayHistory #EconomicPolicy

Our Sponsors:
* Check out Kinsta at https://kinsta.com to get your first month free today!
* Check out Mack Weldon and use my code PETER for a great deal: https://mackweldon.com
* Check out Moorings: https://moorings.com
* Check out ShipStation: https://shipstation.com/GOLD
* Check out Vanta and use my code SCHIFF for a great deal: https://www.vanta.com
Privacy & Opt-Out: https://redcircle.com/privacy