Peter Schiff

We would have had just as high a move in CPI had Trump won, right?

So it's not because we elected Biden, right?

It was already baked in the cake.

And the main reason that Trump didn't get reelected, whether or not you want to think it was rigged or not, the main reason was that Trump got elected promising to make things better.

And at the end of his first term, they were worse.

Because all Trump really did was continue the failed policies of Obama.

And so he promised in what area?

I mean, government continued to get bigger under Trump.

Deficits continued to get bigger.

We continued to print more money.

We didn't have the real structural reforms that we needed to make America great again.

We just kept blowing more air into the bubble.

And so the inflation rates as measured by CPI... Remember, the CPI is a very flawed way to measure prices.

Yeah.

In the 1990s, they had something called... Consumer Price Index.

Tell me why it's flawed.

Well, so in the 1990s, the government decided...

that the CPI was overstating how much prices were going up.

Now, that was probably a lie, but the government said, we need to recalculate it.

We need to figure out a better way to measure prices.