Trump Wants to Buy an Airline With Your Money — This Is Not Capitalism

Peter Schiff delivers a fiery, multi-layered critique of U.S. economic policy, government overreach, and systemic corruption in this 84-minute episode. He begins by dissecting Federal Reserve Chair Jerome Powell's final press conference, exposing what he calls the Fed's hypocrisy in claiming to maintain a 2% inflation target while inflation has consistently exceeded that level for years. Schiff argues that Powell's assertion of 40 years of inflation control is a lie, backed by data showing inflation averaged 5.5% in the 1980s and 3% in the 1990s—far from control. He then shifts to a scathing indictment of Donald Trump’s proposal to buy Spirit Airlines with taxpayer money, calling it a betrayal of capitalism that would distort markets and create unsustainable government-run enterprises. Schiff warns that such actions, driven by political populism rather than economic logic, will harm private enterprise and lead to inefficiency. The episode culminates in a detailed exposé of his own battle with the IRS and Puerto Rican regulators, revealing through leaked FOIA documents that his bank was shut down not for financial misconduct, but as a coordinated public relations stunt to bolster the IRS’s image and Puerto Rico’s standing with international tax authorities. Schiff presents damning evidence that the IRS and OSIF colluded to destroy his bank despite no wrongdoing, framing it as a systemic abuse of power that undermines the rule of law and freedom. He calls for national outrage and a reckoning with government corruption, urging listeners to demand accountability and protect liberty before it’s too late.