Real Crash 2014
Weekly Recap
Posted by tom on 10/07/2011 at 3:04 PM
Fellow Freedom Fighters -

In theory, government works. Theory, unfortunately, isn’t synonymous with reality, and policymakers are so often preoccupied with the former they’re oblivious to the latter. No better was this sad truth exposed than on Thursday’s show, when President Obama ridiculed Republican efforts at reining in the EPA. Environmental regulations, he intoned, are the reason we have “clean air and clean water.” Meanwhile, back in reality -- a.k.a., the Peter Schiff Show -- Idaho-based property owners Mike and Chantell Sackett retold the nightmare they’ve been suffering through for the last six years. It’s almost too unbelievable to be true, a tale in which EPA officers are like the villainous creatures in classic horror flicks who never submit to defeat no matter how many knives have been plunged into their backs.

The theory was simple. America’s wetlands would be preserved utilizing the regulatory power of the EPA. The reality was sadly less innocent. The Sacketts purchased in 2005 what they imagined to be their dream property and began, after navigating the usual labyrinth of bureaucratic hurdles, to build. Only after that process got underway did the EPA announce the property was actually federally protected, and that unless and until they restored the grounds to something more “natural” looking, the family would incur $32,500 daily penalties. (Those fines now total more than $4 million. Original value of the property? $23,000.)

When it comes to America’s wetlands, the EPA serves as arresting officer, judge, jury, and executioner. Sackett v. EPA is being heard in the Supreme Court’s forthcoming term. Naturally, the Obama Administration is throwing its legal weight behind the EPA. Anything to keep an idealistic theory alive!

That same show, Peter noted Steve Jobs’s passing. Jobs, liberals were surely aghast to recall, never graduated college. It seems an expensive degree, class size, his teachers’ compensation -- none of that mushy malarkey mattered to perhaps the most successful businessman in modern American history. But don’t tell that to Washington, where it’d only spoil the fun. Obama spent Thursday not reflecting on Jobs’s contributions to American society, but rather explaining why pissing away another half trill’ -- most of it on “education” -- will finally be the spark that gets this economy going. At least that’s the theory.

For a quick recap of this week’s other can’t-miss moments, check out the 25-minute Cliff's Notes version, available exclusively at SchiffRadio.com.


And in this week’s edition of Listeners' Questions, Peter's Answers, Peter addressed:  

* How to measure a house’s value in gold -- submitted by Wesley in St. Louis, Mo.
* Why home builders are still building -- submitted by David in Berea, Ky.
* What happens if Germany secedes from the E.U. -- submitted by Jim in Payson, Ariz.
* Canada’s real estate market -- submitted by Peter in Toronto, Ontario (Canada)
* Why weak currencies help exports -- submitted by Monir in Southampton, Hampshire (United Kingdom)



  • Are you an investor who enjoys a heaping serving of Austrian economics with sides of gumbo and great music? Then I hope you’ve enlisted for the New Orleans Conference. From October 26-29, you can join Peter, Marc Faber, Dennis Gartman, Glenn Beck, and P.J. O’Rourke in the world’s most entertaining city. Better still, when you reserve your spot through SchiffRadio.com, you’ll also receive a 6-month premium membership, a brand-new “Peter Schiff Was Right” bumper sticker, and a signed collection of Peter’s books. So book your spot today!

  • Mark your calendars: November 1st marks the debut of SchiffTV. We’re taking the show’s video stream and sending it into overdrive. Expect a host of information complementing each broadcast, with video clips, pictures, and other graphics. Interactive polls, Twitter updates, and other bells and whistles are also planned. If you’re not signed up as a premium member, now’s a great time to get on board.

As always, thanks for listening.

Tom Elliott, Peter's producer

P.S. Please don’t forget to send this email to friends and family who might be future Schiff Heads!
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