Suffice to say, candidate Donald Trump was much better than President Donald Trump.
From the day he announced his candidacy, Trump would regularly slam the swamp, talk about how government numbers are phony and how the wars need to end. Today, it’s a different story: he has welcomed the swamp back into the White House.
This isn’t making contrarian investor Peter Schiff happy at all.
Speaking in an interview with Joe Rogan, Schiff called President Trump a hypocrite for his positions on economic issues. He essentially echoed his previous sentiments when talking to Max Keiser earlier this month.
As an example, Schiff mentioned that Trump would decry the unemployment numbers that were published during the Obama years, complaining that they’re bogus because they’re not including weekly hours and salary. Now, he is championing those same numbers.
Moreover, as another example, Trump would talk about how the stock market is one big fat bubble on the campaign trail. Fast forward to today, he is constantly tweeting that the Dow Jones is making record highs.
“Trump was honest as a candidate, ‘These are low-paying jobs. These are crappy jobs.’ And a lot of the people getting jobs were older people who don’t want jobs. They were retired, and now they’re working at McDonald’s part-time because they can’t live on their retirement money,” Schiff said.
“So Trump was telling the truth about how bad the economy really was, and that resonated with a lot of blue-collar guys, with a lot of Democrats in the Midwest. [They] voted for Trump because he got it, because he understood, because he ‘felt their pain,’ like with Bill Clinton.”
Several months into the new administration, Schiff believes nothing has really changed because the economy is the same one he inherited from former President Barack Obama: bad jobs and a stock market bubble.
“The only difference is, he’s not a candidate, anymore. He’s the president. Now he’s trying to market the same crappy economy that Obama had and pretending everything is good. I wish he would stay true to the candidate, the economy is still a disaster, because nothing has changed. He was gonna “drain the swamp,” instead, he just poured more water in the same swamp,” Schiff averred.
“But to actually drain it means to actually shake things up. In a way, he’s shaking things up, but not that’s way that’s gonna get meaningful change for the country. The shaking up that’s he’s doing, is not what people were voting for. We really need real substantive economic change, but the president is not able to deliver that. He’s surrounded himself with the same cronies that were around in the Bush administration.”
Schiff is absolutely correct in his assessment of President Trump so far.
What happens when everything crumbles? Is he going to revert back to blaming President Obama and the state? He can’t because he is now the fall guy.
Here is the entire video embedded below:
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