Peter Schiff Explains How Sweden Is Showing the Way on Reversing Inflation

RUSH TRANSCRIPT Only real ░░░░░░░░ to fight inflation is ░░░░░░░░ two pronged attack which ░░░░░░░░ include positive real interest ░░░░░░░░ which means an interest ░░░░░░░░ above the inflation rate ░░░░░░░░ were still at an ░░░░░░░░ rate Half the official ░░░░░░░░ rate let alone the ░░░░░░░░ inflation rate and we ░░░░░░░░ cooperation from the us ░░░░░░░░ We need to see ░░░░░░░░ in government spending something ░░░░░░░░ s not going to ░░░░░░░░ In fact government spending ░░░░░░░░ gonna continue to increase ░░░░░░░░ so will the deficits ░░░░░░░░ are making that spending ░░░░░░░░ So negative real interest ░░░░░░░░ is stimulative Monetary policy ░░░░░░░░ increasing budget deficits is ░░░░░░░░ fiscal policy You re ░░░░░░░░ gonna put out a ░░░░░░░░ by pouring gasoline on ░░░░░░░░ If you want to ░░░░░░░░ had a fight inflation ░░░░░░░░ at what sweden is ░░░░░░░░ it I just read ░░░░░░░░ sweden s p Plan ░░░░░░░░ fight inflation and it ░░░░░░░░ significant cuts to government ░░░░░░░░ so significant that the ░░░░░░░░ government is gonna be ░░░░░░░░ a budget surplus and ░░░░░░░░ plan is to use ░░░░░░░░ surpluses to pay down ░░░░░░░░ national debt and I ░░░░░░░░ right now it s ░░░░░░░░ 30 five Five percent ░░░░░░░░ GDP and the plan ░░░░░░░░ over the next few ░░░░░░░░ to reduce their debt ░░░░░░░░ GDP to about 20 ░░░░░░░░ percent and because they ░░░░░░░░ reducing their government debt ░░░░░░░░ re also gonna be ░░░░░░░░ to reduce the supply ░░░░░░░░ swedish kronor in circulation ░░░░░░░░ s how to fight ░░░░░░░░ we re not doing ░░░░░░░░ of that and by ░░░░░░░░ way our total government ░░░░░░░░ to GDP Right now ░░░░░░░░ you include state federal ░░░░░░░░ local is about a ░░░░░░░░ and 30 five percent ░░░░░░░░ GDP and it s ░░░░░░░░ up It s not ░░░░░░░░ out so sweet and ░░░░░░░░ succeed in this effort ░░░░░░░░ bring down it s ░░░░░░░░ but the Federal Reserve ░░░░░░░░ fail in it s ░░░░░░░░ effort to bring down ░░░░░░░░ s inflation In fact ░░░░░░░░ is one of the ░░░░░░░░ occasions where I agree ░░░░░░░░ senator Bernie Sanders I ░░░░░░░░ the United States was ░░░░░░░░ like sweet it because ░░░░░░░░ is far more fiscally ░░░░░░░░ that America but getting ░░░░░░░░ to the I itself ░░░░░░░░ if you look beneath ░░░░░░░░ headlines which very few ░░░░░░░░ seem to do on ░░░░░░░░ c p I n ░░░░░░░░ you ll see some ░░░░░░░░ examples of just how ░░░░░░░░ progress the Fed is ░░░░░░░░ out inflation Take a ░░░░░░░░ at the numbers for ░░░░░░░░ at