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Peter’s Podcast

POSTED ON December 18, 2019  - POSTED IN Peter's Podcast

We have a trade deal!

Or do we?

We still don’t have all of the details of the so-called phase 1 deal. From what we know, it appears to be rather limited in scope. The US offered to suspend some tariffs on Chinese goods and cut others up to 50% in exchange for Beijing buying more American farm goods and opening up to US financial firms.

During a recent podcast, Peter Schiff said one thing we know for sure: this isn’t the resolution to the trade war. He called it more of a “truce.”

POSTED ON December 16, 2019  - POSTED IN Peter's Podcast

Former Federal Reserve Chairman Paul Volcker passed away last week. Volker was appointed by President Jimmy Carter, but served most of his term under President Ronald Reagan. Volker was best-known for fighting inflation with interest rate hikes. At the peak, Volker pushed rates all the way to 20%.

Peter talked about Volcker in a recent podcast, noting that he was credited with slaying the inflation monster that today’s Fed seems happy to resurrect.

POSTED ON December 9, 2019  - POSTED IN Peter's Podcast

Friday’s employment report from the Labor Department far exceeded expectations. Mainstream analysts called the report “stellar.” Some pundits even called it the best jobs report in history. According to the Labor Department, the US economy added 266,000 jobs in November. Economists had projected an increase of around 187,000. The unemployment figure dropped to 3.5%.

Peter Schiff talked about it in his latest podcast. He called it a “Trumped-up” jobs report.

POSTED ON December 4, 2019  - POSTED IN Peter's Podcast

The Dow Jones was down over 280 points yesterday, marking the third straight day of declines. Sudden pessimism about a trade deal has tanked stocks. In his latest podcast, Peter Schiff talked about it.

Typically, December is a strong month for stocks with the so-called “Santa Claus rally.” Peter said maybe the Grinch is going to steal that rally this year.

POSTED ON November 21, 2019  - POSTED IN Peter's Podcast

In his most recent podcast, Peter Schiff said something that seems rather perplexing on the surface. He said that the current stock market rally isn’t being driven by a strong economy. It’s actually being driven by a weak economy.

How can this be?

Well, the underlying economic weakness is what keeps the Federal Reserve in play and it’s the Fed’s loose monetary policy that’s goosing this market.

POSTED ON November 18, 2019  - POSTED IN Peter's Podcast

The Dow pushed above 28,000 on Friday. The Nasdaq also closed on a record high above 8,500, and the S&P 500 made a new record high of 3,120. This despite some more gloomy economic data that came out during the day. Industrial production dropped more than expected, falling by 0.8 in October. Inventory numbers were also revised down. All of this led the Atlanta Fed to revise its Q4 GDP estimate down to 0.3.

In his most recent podcast, Peter Schiff said that it’s QE and Federal Reserve policy that is driving the stock market, not a great economy. In fact, the Fed is creating all kinds of bubbles. And like all bubbles, they will eventually pop.

POSTED ON October 31, 2019  - POSTED IN Peter's Podcast

As expected, the Federal Reserve cut interest rates another 25 basis points on Wednesday.

The mainstream read the post FOMC meeting comments to be relatively hawkish, saying Powell and Company seemed to indicate that future rate cutting is on pause.

Peter Schiff opened up his podcast reminding us that just one year ago, the Fed was raising rates and telling us it would continue to do so through 2019. It also claimed that quantitative tightening was on “autopilot.”

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