There has been significant volatility in US stock markets so far this week. The Dow was down over 470 points Monday morning. Dip-buyers saved the day and the Dow ended up only down 66 points. But then the bottom fell out on Tuesday, with the Dow plunging 473 points.
Tweets by President Trump threatening more tariffs and raising questions about whether China and the US can work out a trade deal sparked this market volatility and the ensuing sell-off.
In his latest podcast, Peter Schiff raises an interesting question: was this by design?
Just a few weeks ago, the mainstream was worried about economic growth. Now, all of a sudden, the mainstream is bullish about economic growth. It seems like the high from the Fed’s monetary heroin has fully taken hold. And it’s not just in the US.
In this episode of the Friday Gold Wrap, host Mike Maharrey talks about how central bank monetary policy and government economic stimulus is impacting economies. It’s fun being high … until you’re dead. He also covers some interesting developments in the gold market.
The Dow Jones closed out Q1 2019 with its best quarterly gain since 1998, rising 10.3% through the first three months of the year. And the Dow Jones wasn’t alone in its bang-up first quarter. The S&P 500 rose 12.3%. The Russell 2000 was up 13.8%. And the Nasdaq led the entire pack with a 15.6% gain.
As Peter Schiff said in his latest podcast, the entire rally was a gift from the Federal Reserve.
Well, if you’re any kind of news junkie, you probably know that the Senate voted this week to reject President Trump’s national emergency declaration. But fear ye not – there are plenty of other national emergencies on the table!
The February jobs report came in significantly below expectations. First quarter GDP estimates are way down. And we’re seeing other numbers that indicate a rotting economic foundation.
But nobody is worried.
In fact, most of the attention continues to be focused on the trade deal as if it is going to push the economy to new heights. In his most recent podcast, Peter dug into some of the numbers and came to the conclusion that most of the analysts and pundits are utterly clueless about what’s really going on.
Peter Schiff has been talking a lot about the prospects of a trade deal lately. His point: an end to the trade war isn’t going to heal America’s economic wounds. And those wounds? Well, they’re self-inflicted.
Peter appeared on RT again on Monday (March 4) to hammer home this point.
The price of gold dropped last week and stock markets continued to rally. One of the driving factors was optimism that the trade war may be close to its end. As a CNBC report put it, “investors opted for riskier assets on hopes of a thaw in a trade dispute between the United States and China.”
But should the markets really be rallying on this trade deal? Is it going to be a great boon to the US economy? Peter Schiff doesn’t think so. He recently appeared on RT to talk it.
The US and China are reportedly getting closer to working out a trade deal. The Chinese have indicated they will import more US natural gas, semiconductors and soybeans. Peter Schiff recently appeared on RT to talk about it. He said that no matter what ultimately comes out of these trade negotiations, it’s not going to make America great again.
Did you hear what President Trump did to Speaker of the House Nancy Pelosi? He grounded her airplane — 40 minutes before she was supposed to take off on a big excursion.
Whether you love Trump or hate him, you have to admit he’s the greatest troll to ever occupy the Oval Office.
Immigration policy is one of the biggest issues facing America right now. It’s also one of the most contentious. Should the US build a wall along the Mexican border? Are there other immigration policy reforms the US should consider? And why does it even matter?
Mike Maharrey explores the immigration issue with journalist Ryan Girdusky in this episode of It’s Your Dime. They also talk politics, discussing the midterm elections and Trump’s prospects for 2020.