The Peter Schiff Show
The Truth About Gender-Based Discrimination Lawsuit – Ep...03/26/15
Pao v. Kleiner Perkins: there should be no damage even if there was discrimination The law against discrimination is unconstitutional Employees are free to discriminate – they can work for whomever they want Why should an employer then lose that...
Economy is Weakening But at Least the Cost of Living is Rising – Ep. 63
Bad economic news coming in is more a deluge than a trickle Dollar continuing to drift lower since “patience” was removed New Zealand dollar record high against the euro and the Australian dollar New Zealand enjoys a strong currency, economic growth,...
Are Forex Markets Finally Calling the Fed’s Bluff? – Ep. 62
The Fed removed the word “patience” from their statement while promising patience We are likely to see weaker employment numbers, further delaying talk of rate hikes Pundits who failed to foresee the 2008 crisis are now saying the “problem is solved”...
Losing “Patience” Does Not Mean the Fed has Lost Patience
The Fed released long-awaited FOMC official statement Indicating they will be more patient without the word “patient” than when they were officially patient Why take the word away in the first place? The Fed wants to appear to be moving closer to a...
Dollar Strength Defies U.S. Economic and Stock Market Weakness – Ep. 61
The Foreign exchange markets continue to ignore the darkening U.S. economic picture Dollar had best two-week gain since the financial crisis of 2008 Market exuberance based solely on the jobs report which is an outlier among all other negative news...
Markets, Rate Hikes, and Student Loans – Ep. 60
The NASDAQ 5,000 party ended nearly the day it began NASDAQ down more than 80 points Dow Jones down 332 points Outside reversal week a reliable pattern signaling a downturn The market believes optimistic non-farm payrolls will trigger Fed rate hike...
U.S. Economy Not Nearly as Strong as Payrolls Suggest – Ep. 59
February Non-Farm Payrolls Number – 295,000 jobs Unemployment down 5.5% Analysts were expecting a miss Dollar at a new high Productivity dropped 2.2% Factory orders fell for the 6th consecutive month Economic data points only seen during recessions...
Polish Central Bank Joins 2015 Rate Cutting Party – Ep. 58
Poland became the 21st country to lower interest rates this year New record low to 1.5% Polish economy is strongest in three years Growing faster than the U.S. economy Policy conundrum: what is inflation target? Low inflation stimulating Polish...
This Time It Is Different – It’s Worse – Ep. 57
First trading day of march – NASDAQ closed above 5000 for the first time in 15 years Each time the market goes up with crazy valuations, pundits say, “This time it’s different.” This time the Fed is under more pressure to create the illusion of...
Shocking Admission & Denial from Alan Greenspan
Government released revised estimate for Q4 GDP Initial estimate was 2.6; revised down to 2.2 Economic growth dipped from 5% in Q3 to 2.18% in Q4 PMI was expecting 58.7 but plunged to 45.8, indicating contraction Alan Greenspan commented that the U.S....
Fed Might Begin Thinking About Raising Rates at Some Point – Ep. 56
Janet Yellen’s prepared remarks were the most dovish yet If economy is improving, why do we still need “a high degree of accommodation?” There is still room for “substantial improvement in the labor market” Any modification of guidance will not...
Hollywood Hypocrisy and Gender Pay Gap Fiction – Ep. 55
Patricia Arquette claims that there is a still an unfair gender wage gap in the labor market If that were true, all employers – male and female – would hire women first, because they are more cost effective employees But they don’t Women who choose to...
Fed’s Open Mouth Operations Having Complications – Ep. 54
Two days of bad economic news this shortened week The Fed still says the economy is recovering Recent FOMC minutes maintains pretense they can raise interest rates FOMC members are worried about raising rates “too soon” The Fed is worried about how to...
Investor Confidence Sends Stock Indexes to New Highs – Ep. 53
Friday 13th was not unlucky for Wall Street S&P 500 traded to an all-time record high The Dow closed above 18,000 NASDAQ at almost a 15-year high Despite overall trend of weak corporate earnings Weak economic data does not dampen Wall Street’s spirits...
I’m Living in an Economic Twilight Zone – Ep. 52
China announces a record trade surplus Media reports surplus as bad news for China Because of the strength of the Yuan, Chinese can buy more imports for less Chinese consumers purchasing more Chinese businesses manufacturing more Contrary to press...
Despite Slowing Economy, Job Growth Speeds Up – Ep. 51
Monthly non-farm employment number beat expectations Upward revisions to prior months Average hourly earnings number jumped by .5 Immediate reaction in the market was swift Dollar up; gold down Unemployment up Labor force participation down among...
Are Forex Markets Finally Acknowledging the Slowing U.S. Economy?
Volatile day in the markets Largest decline in Personal Spending since September 2009 Wages and Salaries gain slowest in 7 months December ISM Manufacturing Index down to 53.5 December Employment growth at 7-month low 2.6% GDP number will likely be...
A Dove in Hawk’s Clothing – Ep. 49
Fed’s official statement released yesterday Received by the market as hawkish, Fed is still reiterates “patience” The statement noted unguarded optimism about the U.S. Economy Fed ignored unstable markets, Europe, oil prices and strength of the dollar...
Weak Earnings and Bad Economic Data Pummel Stocks – Ep. 48
Wall Street spared blizzard only to be buried in bad earnings and bad economic news December durable goods down 3.4%; expected to come in at +.7 Consumer confidence up to 102.9;contrarian indicator Last time consumers were this confident was in the...
Obama Misstate of the Union – Ep. 47
The President is taking credit for an economic recovery that is a bubble created by the Fed Obama voters’ salaries are much lower now than when he was elected We have fewer full-time jobs during Obama presidency Obama is offering freebies to the...
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