Economist Peter Schiff explained why US President Donald Trump called him a loser and a moron.
On December 6, the American leader posted an angry message on the social media site TruthSocial directed at Schiff, who, Trump believes, hates him and distorts the facts in an attempt to make the president look stupid. However, Schiff stands firm, claiming that Donald resorted to insults because he knew he was wrong.
President Trump commented on my appearance on Fox & Friends Weekend, during which I warned that Trumponomics is leading to larger budget deficits, higher prices, and less availability of goods.
In this interview, I explained why the cost of gasoline, housing, wages, and inflation are not moving in the direction politicians claim. I also answered the question of why Americans should brace for rising prices, not falling, as the government increases spending, Peter said.
Peter Schiff
Criticizing Schiff, Trump wrote that the price of gasoline in the US had fallen, not risen, as Peter claims. Since Donald’s inauguration on January 20, 2025, the price of gas has indeed fallen. The national average has fallen by 3,4%, from $3,22 to $3,11 per gallon (₽63,19 per liter).
Donald believes that Schiff, a Democrat sympathizer, is spreading misinformation. The president claims he’s addressing the crisis of declining purchasing power, which his predecessor, Joe Biden, allowed to happen, rather than exacerbating it. In Trump’s defense, it can also be noted that the US federal budget deficit fell by $41 billion this year to $1,8 trillion, a 2% decrease from the 2024 target.