The State of the Union: A Big Joke on the American People (Video)

Peter Schiff appeared on Stefan Molyneux’s podcast Wednesday and dissected the State of the Union address. Peter summed it up this way:

He opened with a joke, he closed with a joke. The entire State of the Union address was one big joke. Unfortunately, the joke is on the American people.”

During the wide-ranging discussion, Peter took issue with Obama’s characterization of the US economy, noting the president is pretending everything is great when in reality it’s a disaster and most people know it. Peter and Stefan broke down some of the economic fallacies Obama invoked, including rosy employment numbers, the notion that the he has done something to address the national debt, and the idea that he won some great victory over the great recession. The discussion wasn’t limited to economics. Peter and Stefan also get into education, free markets, and foreign policy. Finally, they spend some time talking about the Federal Reserve’s recent actions and what’s next, along with, as Stefan put it, “The sharp screams of your stock prices going down.”

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