Peter Schiff: Candidate Trump Told Truth About The Phony Recovery, Now President Trump Is Celebrating It

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Economist Peter Schiff said instead of draining the swamp, President Trump just "poured more water in the same swamp" and is celebrating the exact same economy he trashed as a candidate.

From Schiff's interview with Joe Rogan:

PETER SCHIFF: That’s what’s really bothering me about Trump is the hypocrisy, because when Trump was a candidate and he got elected because by and large he told the truth about the phony nature of the recovery. Obama was out there talking about how great things were, and Trump was like BS, it’s not that great...

Obama got credit for all those extra jobs, right? As we were destroying full-time jobs and replacing them with two part-time jobs, we got all these jobs. So, Trump was honest as a candidate … When you look at the labor force participation rate, which he would talk about – – you know where labor force participation rate is collapsing is with young people. People in their 20s and 30s can’t get jobs. Meanwhile, 70 and 80-year-olds are working in record percentages because they can’t afford to retire, and their grandkids can’t get a job … So, Trump was telling the truth about how bad the economy really was, and that resonated a lot. A lot of blue-collar guys, a lot of Democrats in the Midwest voted for Trump because he got it...

When Trump was a candidate, he talked about the stock market, because, oh, the stock market was going up when Obama was president. And Trump said, ‘Well it’s a bubble. Who cares about the stock market. This is a big, fat ugly bubble. Wait till it pops...

Now he’s president. What is he saying?

Every time I see him. ‘The stock market is a new record high! This is fantastic! You know, it’s all because of me. This is great!’

And when the job numbers come out … ‘Look how low the unemployment rate is! This is the lowest it’s been in 15 years. I’m doing a great job.' ...

This is the exact same economy he inherited. It’s the same crappy jobs. It’s the same stock market bubble. The only difference is he’s not a candidate any more.

He’s the president and now he’s trying to market the same crappy economy that Obama had and pretending everything is good.

And I wish he would stay true to the candidate and admit, you know what? The economy is still disaster, because nothing has changed, right? He was going to drain the swamp. Instead, he just poured more water in the same swamp.


(transcript via Peter Schiff)

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