"WORSE than 2008!" - The Great CRASH is Happening | Peter Schiff • 464
Julian Dorey · 19 Aug 2026 · 2h 44m
Guest: Peter Schiff · Host: Joey Def, Julian Dorey
This conversation centers on economist and investor Peter Schiff, known for predicting the 2008 housing crash, laying out why he believes the current economic bubble is far larger and more dangerous than the one that caused that crisis. He walks through how cheap money and government-backed lending inflated housing in the 2000s, then argues that today's combined bubbles in stocks, bonds, and crypto dwarf that era, driven by a national debt near forty trillion dollars and trillions more in unfunded liabilities. He explains his view of inflation as fundamentally a monetary expansion rather than simply rising prices, and argues the government uses this confusion to shift blame for higher costs onto businesses. From there the discussion moves into a wide-ranging critique of government intervention: Social Security as an unsustainable transfer scheme, student loan guarantees driving up college tuition, health insurance mandates inflating medical costs, and mortgage guarantees keeping housing unaffordable. Schiff argues capitalism, left alone, benefits everyone through competition and consumer choice, while government involvement in markets consistently produces the worst outcomes. Midway through, he recounts in detail how regulators in Puerto Rico, acting on leaked information from Australian tax authorities and journalists, shut down his bank despite a multi-year federal investigation that produced no criminal charges, framing it as a case of government overreach and media collusion. He closes with warnings about currency instability, tariffs, and why he thinks the dollar's reserve status is at risk.
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What comes up
Timestamps link into the episode on YouTube.
- AI chatbot identity roleplay banter
- Early warnings before the 2008 housing crash
- Fed rate cuts and the mortgage bubble mechanics
- Today's bubble: stocks, bonds, crypto bigger than 2008
- Defining inflation as monetary expansion
- Generational impact: boomers vs younger generations
- Social Security as a Ponzi scheme
- Minimum wage and barriers to first jobs
- Student loans and college tuition inflation
- Housing affordability, low-rate lock-in, and tariffs
- Trade deficits, dollar reserve status, and debt sustainability
- Schiff's bank shutdown and IRS/media investigation saga
Said on this episode
Quoted from the auto-generated transcript, which mishears names and technical terms. podcite.com reports what a show said; it does not endorse or fact-check it.
“we've debased the currency. We've created so much inflation. You need more dollars to buy an ounce of gold.”
“None of it's going to happen. Nothing's going to get cut because it I heard the same thing when Reagan was first elected.”