The Peter Schiff Show
Polish Central Bank Joins 2015 Rate Cutting Party – Ep....03/05/15
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...
Central Banks Wage War Against Low Prices – Ep. 46
Big action from the Central Banks this week Bank of Canada lowered rates from 1% to .75% The ECB announced the launch of first QE program The Euro plunged against gold Central Banks’ goal is to raise the level of inflation to guard against falling...
Gold Rally Continues, Yuan/Dollar Peg Explained – Ep. 45
Biggest 7-day surge in Gold prices since 2011 U.S. GDP will be lower than in Canada this year Canadian gold production will rise in 2015 Gold is rising against most currencies except the Swiss Franc The IMF still believes the U.S. economy is...
Will China Pull a “Switzerland” on the U.S. Dollar?
Thursday, January 15, will be remembered as the day Switzerland abandoned its peg to the Euro The Swiss defended their policy to peg to the Euro, but suddenly reversed, limiting their losses They admitted they were wrong Although the Swiss stock...
Switzerland Loses Currency War Swiss Win – Ep. 44
The Swiss people have given up the inflation ghost to win the currency war Media reports negative on the news: “silly decision” Oil down against the Swiss Franc Swiss stocks up in U.S. dollars Wall Street expects Eurozone QE, but without Swiss, QE...
Denial Runs Deep From Wall Street To Bitcoin – Ep 43
Dow down 600 points in between Tuesday high and Wednesday low Stock market and real estate are pillars of the phony recovery Loose government lending standards encouraging mortgage defaults Dollar down and gold up on low retail sales numbers Fed not...
Jobs Up But Earnings and Participation Down – Ep. 42
December jobs report up; unemployment down Average hourly earnings dropped Labor force participation hits new low, except for older Americans Fewer young workers supporting the Social Security system Most credit comprised of student loans and auto...
Gold Breaks Out, Stocks Break Down – Ep. 41
World markets left the gates weak on first full trading week of the year Catalysts: Declining oil prices and Greece’s potential Eurozone exit The Euro has gone sideways against the dollar for 9 years The U.S. stock market will decline until the market...
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