원문 보기
So, what can we make of all that is happening uh with this new administration? Let's look at the auto industry. Auto jobs are moving to the United States. Emission test scandals are hurting industry reputation. How is this administration and its choice of cabinet members in high level positions going to affect all of this?
Let's take a look at what we might see happening in the near future. To discuss this, we're joined now by Peter Schiff, CEO of Europacific Capital. Thank you so much for joining me today. Uh really appreciate it. Look, let's talk about uh Oklahoma Attorney General Scott Puit. He's led lawsuits against the Environmental Protection Agency and now Trump wants him to lead it.
We've got emission scandals after emission scandal going on. How could things change with him entering this fray? Well, you know, I'd like to see the president dismantling a lot of these cabinets instead of trying finding people to run these departments and agencies. I'd rather have him appointing people to manage the liquidation of these departments and agencies so they can resign.
I mean, we don't need a lot of these uh cabinets and and government agencies. We're broke. And I really wish Donald Trump would focus on cutting government spending and freeing up uh the free market that way rather than trying to better manage these government agencies. It's impossible to manage a government agency.
The best thing to do is shut it down and let the free market Well, but let's but let's let's talk about something. It's that that's easy for us to say about, you know, shutting down an agency, but there's got to be a process of doing that if that's the end goal. But here, you can't just he can't just walk in and say, "Okay, let's shut down the EPA." He's obviously picking someone who would like to dismantle it.
Um, when it comes to the way industry is going to be affected by this pick, um, they're looking at looser regulations, but does that mean that the EPA needs to be dismantled or it just needs to be tweaked in some ways? Well, I think it does a lot more harm than good and to the extent that somebody is running the agency that understands that and can run the agency uh you know from a more costbenefit analysis to the extent that that's possible but sure you know to the extent that the rules and regulations are not as ownorous under Trump that will provide some much needed relief for American business but unfortunately uh what what's likely to happen is really too little too late to prevent uh the coming crisis the US econ economy is in awful shape.
I mean, that's why Trump was elected because the economy is in such bad shape. And it's not going to uh change simply because Trump is now the president. We have a serious recession that we have to go through if we have any hope of making America great again. We have to burst these bubbles. We have to restructure this economy.
and that that transitionary period is going to involve a lot of economic pain uh that unfortunately Donald Trump is not preparing the nation uh to endure. Okay, speaking of pain uh for the Democrats, let's talk about the Obamacare repeal. Republicans say it's going to be a thing of the past, but what alternatives are they going to be able to come up with?
Because a lot of people want to know. It's very important to them to find out the details. What do you think the Republicans with this new administration have got to come forward with? got to come out strong. We've got the inauguration in 7 days. Uh they, you know, Paul Ryan gets on the air and talks about this repeal, don't worry, solutions are coming.
Well, what and when? I'm very skeptical about the repeal of Obamacare and potentially they'll repeal it in some distant point in the future, so it'll still be around. Uh, you know, I don't want to replace it with anything. That is the point. I don't even like the whole terminology of repeal and replace.
I want to get rid of Obamacare, but not just Obamacare. I want to get rid of a lot of other rules and regulations and subsidies that predate Obamacare that caused all the problems that resulted in Obamacare being passed. We need to get the government out of health care and get the free market back in so that we can have quality care at affordable prices.
We had that in America before the government got into healthcare in a big way in the 1960s. And I'd like to see all of that government intrusion into the free market that we've had since the Great Society programs. Let's roll it all back. Let's just not repeal Obamacare, but let's repeal all the other things that the government never should have done, which are the reason that healthcare is so expensive in the first place.
Okay. So, I'm talking about switching up some positions here, talking about the auto industry, the healthcare industry. What can we what can we take out and add in? And you're saying, let's just get rid of it all. Is that is that is that where we are here? Well, we we need to get rid of a lot of rules and regulations.
You know, that's why so many jobs have disappeared. It's not because of Mexico or China uh not playing fair. We have inflicted these wounds on ourselves and we can't bring back our manufacturing by just renegotiating trade deals or slapping on tariffs. It's going to take a long time to bring those industries back.
And to do that, we're going to have to shrink government dramatically so that we make it profitable again to produce and manufacture in the United States. But even though once we do that, it's going to take a long time to bring these industries back. We have to make the capital investments. We have to train our workforce.
Uh there's a lot of work that needs to be done and it's not going to pay dividends immediately. Well, here's Okay, let's talk about uh some campaign promises. All right. Campaign promises to the middle class. As you point out, jobs are hard to come by for a lot of people. A problem that a lot of people have is that his cabinet has so many rich guys in it.
Isn't that a bit problematic or no? You know, if they made their money in the private sector, it's not a problem at all. I mean, we want people that understand how business works and who have been successful in business. But the problem with these campaign promises is Donald Trump promised that everybody in the middle class would get a tax cut and that nobody would lose a government benefit.
There wouldn't be any reduction in entitlements, no reduction in uh in in Social Security or Medicare, Medicaid, uh no cuts to government pensions. Uh so he's not asking anybody to sacrifice anything. So he just wants to make government bigger. He wants to spend more on our vets. He wants to spend more on infrastructure.
He wants to spend more on the military, but we're broke. We can't spend more on anything. We have to spend less. And if we're going to have tax relief, we need to shrink government so that we can actually afford it. If all Donald Trump does is run up the large deficits and makes them even bigger. And so instead of taxes, we just have more debt and more inflation, then the middle class is actually going to suffer as a result of the Trump president.
Well, geez, you're making me depressed here. But I do appreciate I do appreciate your your input. A lot of insightful stuff there. Thank you very much for joining me on all these topics. Peter Schiff, CEO of Europacific Capital.
댓글 0