Peter Schiff recently appeared on Newsmax The Income Generation with David Scranton to talk about the impacts of the coronavirus government shutdown on the economy. The segment turned into a somewhat contentious debate about inflation.
Guest host Jeff Small insisted we aren’t going to see price inflation, despite the Federal Reserve creating trillions of dollars out of thin air. Peter said Small’s ideas are divorced from economic reality.
The interview started off on a less contentious note. Scranton pointed out that as of last week, nearly 22 million Americans had filed for unemployment. The jobless rate is estimated at around 17% and climbing. So, what does this mean for the stock market and the economy?