2008 and 2021 Are Hitting at the Same Time... The Inflation Bomb Is Lit
The Peter Schiff Show PodcastShow Notes
Producer prices just annualized to 17%. Banks sit on $2 trillion in mortgage losses. Peter Schiff explains why 2008 and 2021 are both hitting at once.
📢 Please Support Our Sponsors: - Ethos. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/gold. Application times may vary. Rates may vary. - Proton Pass. Go to https://proton.me/peter to get 50% off, backed by a 30-day money-back guarantee.
Producer prices just annualized to 17%, and banks are sitting on $2 trillion in mortgage losses before a single default.
Peter Schiff says the data looks like late 2020 and early 2021 all over again. September PPI rose 1.3% in one month, core PPI annualizes to 9%, import prices are up 8.1% year over year and export prices 11.6%. These are the leading indicators of consumer prices, and the CPI is already up 4% in the first nine months of 2026. Peter forecasts CPI above 7% in 2027, worse than any year under Biden, while Fed Chair Kevin Warsh has delivered a single 25 basis point hike.
Housing looks like 2007. Pending home sales just hit the lowest level in the index's history, builder confidence is the weakest since 2012, and new homes now sell for less than existing ones. Lenders hold $8.5 trillion in fixed-rate mortgages at an average 4.6% coupon, about $2 trillion underwater, four times the realized losses of the 2008 crisis. Peter explains why the Fed cannot bail out housing with QE while inflation is this hot, why Fannie and Freddie will need another bailout, and why the dollar sits at the center of what comes next.
Chapters: 00:00 Inflation and Housing Collide 02:42 Fed Averaging Target Nonsense 05:45 COVID Stimulus Fueled Inflation 09:36 PPP Fraud and Fed Balance Sheet 14:31 Transitory to Political Fallout 18:08 2026 CPI Surge and Weak Growth 22:42 Polls Turn on Trump Economy 26:17 Energy Shock and PPI Warning 29:30 Fed Behind Inflation 32:05 Import Export Price Shock 34:27 Gold Silver Mispricing 35:00 Housing Crash Parallels 39:07 Builders Slash Prices 42:32 Affordability Math Breaks 43:53 Banks Mortgage Loss Trap 51:05 Defaults And Bailouts Ahead 54:18 Fed Cornered By Inflation 56:54 Protect Wealth And Diversify 58:19 Politics Deficits And Dollar 01:00:22 Closing And Subscribe
Follow @peterschiff X: https://twitter.com/peterschiff Instagram: https://instagram.com/peterschiff TikTok: https://tiktok.com/@peterschiffofficial Facebook: https://facebook.com/peterschiff
Free Reports & Market Updates: https://www.europac.com Book Store: https://schiffradio.com/books Sign up for Peter's most valuable insights at https://schiffsovereign.com Schiff Gold News: https://www.schiffgold.com/news
Our Sponsors: * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai
Privacy & Opt-Out: https://redcircle.com/privacy
More from The Peter Schiff Show Podcast
Producer prices rose 1.3% in one month, 17% annualized. Gold and silver fell anyway, and that is a gift.
September prices rose 0.6%, or 7.4% annualized. Peter Schiff explains why the Fed has already lost the inflation fight and housing is next.
Consumers are more worried now than at 2022's 40-year inflation high. Peter Schiff shows why the 'greatest economy ever' is pure fiction.
Tariffs failed, imports hit a record, and France is rioting. Peter Schiff explains why America's sovereign debt crisis is next.
Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.