Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Bear vs. Bull: Peter Schiff Debates Louis Navellier (Video)

  by    0   1

The stock market has rebounded nicely since those dark days of December leading many analysts to believe precipitous nosedive was nothing but a bull market correction. But Peter Schiff begs to differ. He’s been saying that the rally in stock since the Powell Pause is really a bear market correction. Furthermore, Peter says an upcoming recession is a done deal.

During the Orlando Money Show, Mark Skousen moderated a debate between Peter and Louis Navellier. The question was: were we witnessing a bull market correction or a bear market rally in the last three months?

Right off the bat, Peter asserted he is an “unqualified bear.” In fact, he believes US markets entered a “stealth” bear market in early 2018. Peter’s argument revolves around Fed monetary policy.

Then the Federal Reserve did exactly what I said they would do the minute the market either entered bear territory or got close enough to it to scare the Fed. I said from before the Fed raised interest rated for the first time that if they ever attempted to normalize interest rates, their attempt would fail — that they could never complete the journey because along the way the market would break and the Fed would have to cut off the rate hikes. And that’s exactly what they did.”

Peter said this Fed maneuvering would create a relief rally in the markets and that’s what we’re seeing now.

This rally is the correction. In bear markets, rises are the corrections — the opposite of a bull market. So, I think the Fed, by throwing the markets this lifeline, has created this bear market correction — this rally.”

Furthermore, Peter said when this bear market rally fades and we start seeing new lows, the Fed will be forced to cut rates and eventually relaunch quantitative easing. But this time around, it’s not going to work like it did in 2001 and 2008. It won’t be able to reinflate the bubbles.

I don’t think it’s going to be third time’s a charm. I think it’s going to be three strikes you’re out. I think when the Fed goes back to zero and goes back to quantitative easing, I think the bottom is going to drop out of the dollar, and that’s going to lead to a currency crisis and a sovereign debt crisis that’s going to be much worse than the financial crisis we had in ‘o8.”

Navellier focused more tightly on market dynamics and technical factors, and didn’t address the broader economic environment Peter focused on. He countered that with all of the foreign capital moving into America, interest rates are stable and we don’t really have to worry about them. That means we can focus on earning and earnings numbers look good. Furthermore, the stock market is shrinking due to all of the stock buybacks, which is bullish. Companies are borrowing at these low rates and buying their stock back.

Ultimately, he said the recent correction in Q4 was caused by widening spreads in ETFs.

Peter and Navellier hash out their positions through the course of the debate. Watch the whole thing and decide who you think won.

Gold IRA Rollover to 401k

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff: Gold is the Canary in the Economic Coal Mine

This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.

READ MORE →

Gold Hits New All-Time Record High

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold […]

READ MORE →

New Peter Schiff Video: Inflation Rises, Bitcoin ETFs, and the Final Gold Shakeout

Peter released a brief video addressing the looming resurgence of inflation. Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.

READ MORE →

Peter Schiff: A Buying Opportunity as Gold Pulls Back from Record High (Video)

Gold surged to a new record high of $2135 early Sunday morning before pulling back sharply Monday. In this video, Peter Schiff explains why this is a buying opportunity. After setting the record, gold quickly sold off and consolidated, dropping over $100 back to around $2,020. Some people see the quick selloff as a bearish […]

READ MORE →

Marc Faber: Inflation Is Here to Stay

During a recent interview at the 2023 Precious Metals Summit Zurich event, Doom, Boom & Gloom Report publisher Marc Faber says now is the time to buy gold, silver and platinum because inflation is here to stay.

READ MORE →

Comments are closed.

Call Now