GDP contracted in Q1. The stock market has been tanking. The inflationary fire continues to burn. As Peter Schiff explained in his podcast, this all signals a recession. And yet the Federal Reserve is on track to raise interest rates. How is this going to work?
Bonds continued to get hammered. On Tuesday morning, the yield on the 10-year Treasury rose above 2.9%, and the yield on the 30-year is knocking on the door of 3%. Since bond yields rise as bond prices fall, this indicates a serious decline in the bond market. In his podcast, Peter Schiff said that at some point, the market is going to actually crash.
It appears talk of less loose monetary policy has pricked the bubble. Peter Schiff talked about it in a recent podcast.
We’ve seen a significant rotation out of the overpriced, high-risk momentum stocks that enjoyed the benefit of the bubble. They are now collapsing – not because the Fed has actually tightened monetary policy, but just because it talked about it.
With 2021 now in the rear-view mirror, I believe that future financial historians may regard it as the year of peak speculation.
While the history of American markets is littered with periods of irrational exuberance, none of those episodes can really match the current market for outright delusion and the blatant disregard for basic investment discipline.
Last week, the Fed sped up its timetable for tapering its asset purchases and raising interest rates. While this represents a slightly tighter monetary policy, it’s far from truly tight. And yet, the central bankers at the Fed and a lot of people in the mainstream seem to think these small steps will tame the inflation dragon. In fact, this slight tightening is a little like taking a pea shooter to a bazooka fight.
Despite finally acknowledging inflation will likely runner hotter and last longer than expected, there is still widespread belief that it is transitory in the long run. After all, we had a couple of decades of tame inflation, and that’s now viewed as the norm. In this podcast, Peter Schiff explains why the only thing that’s transitory is the era of low inflation.
The stock market rallied early this week with receding worry about the omicron variant, but the specter of Federal Reserve monetary policy tightening remains. In his podcast, Peter Schiff talked about the anticipation of the Fed’s fight against inflation and explained why it’s a fight the central bank can’t win.
Black Friday was a black and blue Friday as US stock markets saw their sharpest declines since April 2020.
The selloff was spurred by a new COVID variant and fear of new lockdowns. The markets recovered on Monday, but the sudden stock dip was telling.
Last Friday was Black Friday and it was a black and blue Friday for investors. Just about everything was down and markets panicked over a new COVID variant. Peter Schiff talked about the market reaction in his podcast. Did the markets overreact? And what would happen if we did go into another global lockdown?
The Dow suffered its worse day since April 2020, the height of COVID lockdowns.
The Dow Jones and the S&P 500 hit new all-time records on Tuesday (Oct. 26). In his podcast, Peter Schiff focused on a few speculative stocks that have had meteoric rises (and in some cases crashes) over the last few days. He said this is evidence of the speculative fervor in this massive bubble.
Pop some popcorn. It’s time for some political theater. Congress is gearing up for another debt ceiling fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharey gives you a preview of the next big Washington DC blockbuster production, complete with some debt ceiling history and an explanation as to why we shouldn’t need one. Maharrey also covers retail sales, inflation and the latest movement in the gold market.
