The Peter Schiff Show Podcast

America Is About to Vote for Socialism... Get Ahead of It Now

2026-10-27

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Printing money was the cure. Now it's the disease, and the next crisis arrives with no medicine left.

Peter Schiff explains why the Fed won't hike this week despite inflation that keeps rising: the decision is political, not economic, and rates are still far too low. Brazil just showed what happens when voters choose socialism, with Brazilian stocks down 23% in dollars in one day, roughly a Black Monday, and Peter argues Americans are about to make the same choice in the midterms. He takes apart the record $55.4 billion in farm welfare, the rent-seeking behind it, and why the consumer pays twice: once at the grocery store and again in the subsidy.

Peter also explains why the Republican "tax cuts" are no cut at all when the deficit is financed by inflation and 7.5% mortgages, why California's "one-time" billionaire wealth tax is the camel's nose under the tent, and why the air coming out of the AI bubble matters more than Wall Street admits: when it pops, governments and companies are fighting over the same scarce credit, and there is no bailout money left. Gold at $4,000 is the floor, not the ceiling, and the gold sell-off is happening for the wrong reason.

Chapters:

00:00 Debt Crisis Warning

00:38 Podcast Setup and Fed Week

01:45 Why the Fed Won’t Hike

02:35 Politics Behind Rates

04:40 Fed Still Inflating

05:18 Brazil Election Shock

08:16 Bolsonaro vs Lula Framing

11:02 Democracy and Socialism

13:25 Farm Subsidy Blowup

18:46 Subsidies Raise Food Costs

21:10 Tobacco Subsidy Contradictions

23:38 Free Market Farming Case

24:12 Protectionism and Imports

27:47 Seen vs Unseen Politics

30:10 Republicans Becoming Democrats

32:00 Farm Subsidy Reality Check

32:54 Why Energy Subsidies Backfire

34:59 Tax Cuts vs Spending Truth

38:25 Medicare Politics Flip

40:44 Obamacare Insurance Logic

42:53 How Government Warps Markets

46:34 AI Bubble Loses Air

48:11 California Wealth Tax Playbook

53:44 Debt Crisis and Inflation Spiral

54:56 Gold and Silver Selloff Opportunity

57:45 Conference Mood and Buy the Dip

59:36 Fed Talk and Final Signoff

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Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter’s commitment to getting the real story out to the world.