Name: Joe Rogan Experience #1508 - Peter Schiff
Uploaded: 2020-07-15T19:00:02.000Z
Description: Watch the stand-up comedy video 'Joe Rogan Experience #1508 - Peter Schiff' from PowerfulJRE on Comedy Buff. Published 2020-07-15. Transcript available.

Watch the stand-up comedy video 'Joe Rogan Experience #1508 - Peter Schiff' from PowerfulJRE on Comedy Buff. Published 2020-07-15. Transcript available.

Joe Rogan Experience #1508 - Peter Schiff

three two one boom here we go hello peter joe good to see you again i like how
at least but
nice to see you i like how you have the euro pacific capital above your left
shoulder very
nice very wise well this this is my studio in my basement here in connecticut
where i'm hunkered
down but you know in honor of doing your show i poured myself a glass of scotch
oh so i have it
oh i feel like i'm sure you have something to drink but i wanted to toast your
spotify deal
oh thank you very much all right i got a bottle of uh my good friend josh barnett's
war bringer
warm master edition mesquite smoked whiskey so i'll have here's to you and spotify
and you know i think
they're getting it cheap you probably could have held out for more money well
you don't know how
much i got well i just know what the public says all right they don't know how
much i got either
but thank you very much if you got more i'll drink to that too i'm very happy
spotify is awesome i'm very happy i'm just i'm happy to be with a company where
they have
a vested interest in my success like we're together you know we're the beauty
of capitalism
yeah right mutually beneficial voluntary relationships yeah there you go
exactly so
why are you in connecticut and not puerto rico well you know i live in puerto
rico and thanks to
my appearance on your show a lot of other people now live there too i just got
to tell you how many
people i run into and they say peter you know i moved here because of you i
said really how'd
you hear about it oh i'm joe rogan that's amazing a lot of people have come
down here but i don't know
i don't think you've been to puerto rico no i've never been to puerto rico yeah
i guess i you got an
open invitation to come visit me i'll put you up i got i got a nice place on
the beach for you
what's their covid situation like what's the covid situation down there it this
is it it's hot now
it's you know it's july august and so i would rather be in connecticut i love
the weather here in the
summer into the fall and we still maintain a house here you know the house that
i lived in before we
moved to puerto rico so now this is more of a summer home and so we're here for
the summer
although we may be here into the fall i think we will because uh the the the
schools you know are
going to be uh remote now so normally i would come back the schools start in
mid-august in puerto rico
so we would normally come back then but since they're going to be taking the
classes online
we'll probably end up staying in uh connecticut for a little longer which which
i like but i i really
enjoy puerto rico it's a great place to live uh you can't beat the tax breaks
so you know this is going
to be an important thing especially uh if biden ends up winning which it looks
highly likely that
that's going to be the case i think a lot more people are going to be coming
down there to try to
escape what will be real confiscatory uh levels of taxation uh so you know
people could look into it
but um yeah i mean it's a real uh real great place to be well let's let's get
into that so you
you think that biden has a very high likelihood of winning here we are let's
just if people come
upon this in the future today is the 14th 14th of july and uh we're a few
months away from the
election you feel like it looks like biden is moving into the direction of of
eventually winning
well i think he's already moved in that direction and so the question is can
trump change that direction
between now and election day and i think it's going to be very challenging
maybe his best opportunity is
going to be the debates uh we'll see i don't think but the big problem for for
trump and you know i i
voted for trump um the first time and you know i was initially going to vote
libertarian which is
something i do and by the way there's a there's a candidate joe jorgensen who
you should have on your
show i don't know if you've if you've thought about it but there is a woman
running for president and
she will be on the ballot in every state joe jorgensen from the libertarian
party and so everybody
who thinks there should be a woman president i actually agree right now and
that's who we should
elect is that who you're voting for is that who you're going to vote for well i
can't vote for
anybody i live in puerto rico but i thought puerto rico was a part of the
united states
sort of it is it is part of the united states but you remember you know from
the revolution
no taxation without representation so what happens is when you move to puerto
rico
you no longer have to pay the federal income tax or the obamacare tax which is
great but then you
can't vote in for the president and you you don't have any member of congress
you don't have a senator
so being in puerto rico i have no representation in congress and i can't vote
for president but the
trade-off is i don't have to pay the taxes wow so you know that's a good trade-off
that i'm you know
pretty much everybody's willing to make so i can't vote and normally i vote for
the lesser of two evils
anyway and most of the time i vote for the loser so as far as i'm concerned
giving up my right to vote
for the loser is is not much of a sacrifice but you know if i could vote i
would still be living in
connecticut and it would be a total waste of my vote to vote for trump because
he has no chance of
winning connecticut so i would vote for jorgensen uh even though i know she can't
win i would rather
at least give her a vote of support because i wouldn't be wasting my vote
because you know it doesn't
matter connecticut is going to go for biden in in a big way and so it's you
know voting for anybody
it doesn't really matter who you vote for this is one of the state like like
connecticut but
as i was saying the problem for trump and i was one of the few people who was
in the media
saying that i thought trump had a real good shot at winning i didn't know it
was in the bag but i
thought that he was more likely to win than lose you know even though everybody
thought it was a long
shot and the reason that i thought that trump could win is because trump was
telling the truth
about how bad the economy was he wasn't regurgitating the lies uh that the obama
administration had
been uh telling or that wall street had been telling about how we had a real
recovery i knew
that we had a bubble inflated by the fed reserve and that beneath that bubble
where you know you can
see the stock market at record highs and these phony unemployment numbers i
knew laid a weak economy
and trump knew that too and trump spoke to the forgotten men and women of this
bubble economy
and his message really resonated about how we were you know a shadow of our
former self that our
industrial might had decayed we had all these big trade deficits that the stock
market was a bubble
all the numbers were fake the real unemployment number rate wasn't five percent
but twenty percent
thirty percent forty percent and that he was a non-politician he was going to
clean house he
was going to drain the swamp he was going to put politics aside and be bring a
businessman's perspective
to washington drain that swamp eliminate the national debt right make america
great again
and that message resonated with a lot of people and a lot of those people were
maybe afraid to be honest
with the pollsters because they didn't want to admit that they were going to
vote for this racist
misogynist or whoever the media was portraying him so i thought he could win
and and he did but here's
the problem now that he's been in office for three years he didn't drain the
swamp he made the swamp
deeper right he didn't make get rid of the deficit i mean the deficit is bigger
than ever even before
covet all he did was uh you know nurture the bubble that he inherited from from
obama and help make it
get bigger he became a cheerleader for the stock market he didn't care it was a
bubble all of a
sudden all the government numbers that were fake under obama were all of a
sudden real like they
just came down from from god on a tablet on maim sinai and he began talking
about this low unemployment
and this booming economy the greatest economy in the history of the world the
greatest economy ever
and none of that was true and so you have the same people who voted for trump
thinking that he would
shake things up thinking that he would throw a monkey wrench in the system and
make their lives better
and their lives aren't better they're worse people have more debt you know the
bubble got bigger the
trade deficits that donald trump criticized are bigger now than they were
before he was elected and
obviously the deficits are much bigger even before covet uh so i just don't see
how trump convinces
those swing voters those blue-collar reagan democrats and the rust belt who
decided they had nothing to
lose and so to take a chance on trump why should they vote for him again i mean
now they may take a chance
on biden even though i mean biden doesn't represent any any change from the
status quo he's just more of the
same uh but you know once you're the insider and trump's now the insider you
know he doesn't have
that edge uh for a re-election what do you think went wrong and why do you
think trump just made the
swamp deeper do you what do you think that he was deceptive when he was running
or do you think the
influences once he got into office were greater than he anticipated what do you
think happened well i have
no idea i mean i mean even ronald reagan right ronald reagan when he was
elected and he was a very
principled conservative right unlike trump you know he was he he really uh
talked uh walk the walk not
just talk the talk and he was a big supporter of barry goldwater who didn't
make it you know when he
ran against lyndon johnson but when reagan came in he really wanted to shrink
government i mean he
campaigned about cut getting rid of the department of education uh the
department of energy or i forget
he really wanted to shrink government and cut spending but he was never able to
do that right he was able to
cut taxes uh but he wasn't able to cut spending trump never really campaigned
on cutting spending he
didn't want to talk about that because he didn't want to alienate any voters so
he just talked about
cutting taxes and he did you know officially cut taxes but he actually raised
taxes that is the
important thing that you have to recognize is that government spending is
taxation and what happened to
government spending under trump even before it went through the moon with covet
19 and we'll get to
all the coveted stuff but even before then trump signed on to all kinds of
increases in government
spending more spending on the military more spending welfare huge increases in
government spending that
those are tax hikes now trump cut income taxes but the income tax is just one
way the government pays for
spending because all government spending has to be paid for by the public one
way or another we don't
get any government for free everything the government does costs us money so
every dime they spend
represents taxation in some form and what they've been doing is they've been
printing money right the
federal reserve prints money and in fact right now the federal reserve is
printing about 55 cents out of
every federal dollar that's spent so more money is being printed and spent than
collected in taxation
but all that printing all that spending that is being paid for by a printing
pest we don't get that for
free there is a cost see when the government takes our money through an income
tax they take my money that
i earned and they give it to somebody else who didn't earn it and now that
person spends the money but
because i don't have it i can't spend it i can't invest it or save it i don't
have it anymore the
government took it from me in taxes but if the government doesn't take it from
me they just print
money and they hand it to somebody else who didn't earn it and didn't do any
work didn't produce any
goods or prov