Monday, December 30, 2019

The Fed will cut all the way to 0%



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Tuesday, December 24, 2019

The biggest bubble is America's economy



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009


November Personal Income and Spending Positive

On Friday, all of the major U.S. stock market indexes finished the day and the week positive, in record territory. The only index not in record territory (but it did make a new 52-week high) is the Russell 2000. The supposed catalyst for Friday's optimism was a better than expected report on Personal Income & Spending for November. They were looking for personal spending to rise by .3% following the prior month's flat number.  They actually revised that one up to +.1%, and the November number came out at +.5%, so incomes rising.  Spending came in and met expectations of +.4%, so apparently the savings rate ticked up a bit. But this was better than expected. I think that caused some optimism on Wall Street. 

Kansas City Manufacturing Index Disappoints

But the markets likely would have gone up, anyway, even if that number disappointed. We did get weak data from manufacturing.  Kansas City manufacturing number came out for November.  It was supposed to be weak at a -3%, but it was even weaker at -8%. That is the lowest level for this index in 4 years. . In fact, we've had 6 consecutive monthly declines in the Kansas City Manufacturing Index, and that really is par for the course. We get stronger economic data when it comes to people spending money but we have weaker data when it comes to generating real production, real wealth, goods production manufacturing - all that data comes out weaker than expected.

U.S. Steel Lays off 1,500 Workers in Michigan

 In fact, we got news on Friday that U.S. is going to be laying off more than 1500 workers in the state of Michigan. Of course, this flies in the face of the fantasy that is being promoted by Donald Trump that the steel industry is back - the steel industry is booming. He's been talking a lot since he's been elected about the steel industry, in particular, about how he saved it, and how it's great. But here we are, laying off workers, shutting down production facilities.  This is a sign that reality is in direct contradiction to President Trump's fantasy.

Tuesday, November 12, 2019

Lot of companies are losing money but have a high market value thanks to the Fed



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Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Tuesday, November 5, 2019

The Fed caused the last financial crisis



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Monday, September 16, 2019

Day of reckoning for our excesses is coming one day



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, September 9, 2019

Andrew Yang has the highest IQ among the current Democratic candidates but USA cannot afford "Free Money". USA is the most indebted nation in the world.



I decided to take a little time out on my Labor Day to record a podcast debunking Democratic Presidential Candidate Andrew Yang. I've been getting a lot of emails about Yang; especially since he did the Joe Rogan Podcast about six months ago.  Once I heard him talk about his ideas, I spent a lot of time on his website looking at a lot of things he didn't discuss with Joe Rogan.  One thing is certainly clear to me: he's a smart guy.  Clearly, if you gave an IQ test to all of the Democratic candidates, Yang would win.

He said a lot of things that certain people find appealing, so I've been asked to comment on him and I've seen other notes about Andy Yang and I wanted to talk about him because, number one, he is rising in the polls. He's now in sixth place among the Democratic candidates; he's polling at about 3% ant that puts him ahead of established politicians like Cory Booker, Beto O'Rourke, Amy Klobuchar, so he's gaining in popularity and I think the trend is going to continue.



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, August 26, 2019

The Fed is going to take rates back to Zero





Art Laffer

Art was going on television all over the place, talking about how the economy was great; everything was fantastic, and, by the way, we should turn over the power of the Federal Reserve to Donald Trump-the President.  Because he's doing such a great job and he would do a better job of managing the Fed because he's doing such a great job with the economy.


Art Laffer: Still Clueless - 

Well, the economy under Trump is in even worse shape that that one.  This is a bigger bubble; it's even more screwed up, and we are on the verge of an even bigger crisis. Well, he couldn't see the last crisis. He is just as blind to this one.  Please check that out.


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