· More downside to go as investors panic buy stocks.
· Robinhood will ultimately go bankrupt.
· Jerome Powell gets reappointed as Fed chair.
· Consumers are borrowing more, despite rate hikes.
· Oil positioning for a big move up.
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https://www.youtube.com/watch?v=T9nJs6ubFH8
Guests: Schiff, Peter Schiff, Euro Pacific Capital, Jim Gillespie, Coldwell Banker CEO, Jonathan Hoenig, Capitalistpig Asset Management
Peter Schiff: "The last several years, home owners have been able to speculate in the real estate market by buying properties, putting none of their own money down, lying about their income, lying about their assets, committing themselves to mortgage payments they knew going in they can never make. Wall Street created all these structured products That transferred all the risks away from the borrowers to the lenders. Now these risks are blowing up. These loans are going bad; the lenders are about to lose a lot of money."
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https://www.youtube.com/watch?v=yjgkXHO-4yk
The Peter Schiff Show Podcast - Episode 497
Recorded September 2, 2019
Let's Debunk Andy Yang's Platform -
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. 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.
Yang Rising in the Polls -
The next Democratic Debate is coming up in about a week and a half and they're no longer going to have two debates; they've narrowed it down to just ten candidates and Andy Yang is one of those 10. I think as there are fewer candidates in the race, Yang is going to get more and more attention from the media and I think he is going to rise in the polls.
Attractive Among a Bunch of Democratic Socialists -
To me, he is like the Bernie Sanders of this campaign. Sanders, and "Feeling the Bern"… he was popular in the 2016 campaign, mainly because he was the only alternative to Hillary Clinton, who was extremely unpopular. So, given that matchup and there was only two choices, it made it very easy for Sanders to gain a lot of support. He's having a much harder time galvanizing that support this time because people have a lot of alternatives. If you want a Democratic Socialist, there's a bunch of them to choose from.
Clearly a Smart Guy… But -
But a guy like like Andy Yang, a younger guy, and clearly a smart guy. I had not watched his appearance on the Joe Rogan Experience until just yesterday. I decided to watch it, and that's the motivation for doing this podcast. 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.
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https://www.youtube.com/watch?v=pfKcXBnZMkA
Record highs in the S&P and lumber prices.
Commodity prices and bond yields soar.
More Americans losing their jobs.
U.S. has been obliterated in the trade war.
Lucasfilm feigns outrage from the leftist mob, proving Gina Carano’s point.
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https://www.youtube.com/watch?v=J0eueLOq0NE
Peter Schiff on Fox Business 10/17/14
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https://www.youtube.com/watch?v=lZBoP2aBbuw
The Peter Schiff Show Podcast - Episode 511
Recorded November 1, 2019
I left out a key statistic on the PMI. Listen to the Podcast of Schiff Radio. Minute 7.11
https://www.schiffradio.com/bad-monetary-policy-not-good-economy-ep-511/
New Highs in the Headlines -
We had record high closes today in the S&P 500, the NASDAQ composite; the Dow Jones not quite a new record but still up better than 300 points: 301.13 to be precise. Of course, all of the headlines, and President Trump - they're going to be claiming that the reason that we had these surging stock prices is because we had a stronger than expected jobs report. We got the October nonfarm payroll that came out this morning and it was better than was expected. You had Larry Kudlow out there talking about how this is a fantastic jobs report. It basically shows how we have this great economy; the greatest economy in the history of America, and that's the reason that the stock market is making record highs, because we have this great economy.
Economic Data was a Mixed Bag -
Well, first of all, the jobs report is really not that great. Sure, it was stronger than expected, but that's not why the stock market went up today. We had other economic data that came out that was weaker than expected, so it was an overall mixed bag. On Thursday we got the Oct. Chicago PMI, which plunged to its lowest level since Dec. 2015. It was the largest 8-month decline in 30 years. In fact, the Atlanta Fed came out today and downwardly revised their forecast for Q4 GDP from 1.5% down to 1.1%, and I think the New York Fed is actually below 1% in its forecast for fourth quarter GDP. So hardly the strongest economy in history, yet the markets and President Trump are certainly celebrating like the economy is strong.
Nonfarm Payroll up from an Upwardly Revised Previous Month -
But let me get to the tale of the tape first in the jobs report, because we were looking for a weak number. So the bar was pretty low. The consensus was for 90,000 nonfarm payroll jobs, and one of the reasons was because of the striking GM workers, so they were going to be subtracted from the numbers. So that was already baked into the cake. We ended up getting 128,000 jobs, so nicely above those diminished expectations. But probably more significantly, they went back and upwardly revised the number they told us for the prior month, which was originally reported at +136,000. Now the government claims it was +180,000.
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https://www.youtube.com/watch?v=VW8T4r92pns
A take on Trayvon you won't see anywhere else.
The Peter Schiff Show
www.SchiffRadio.com
Recorded: March 27, 2012
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https://www.youtube.com/watch?v=enQIRVmFPBc
Watch Peter Schiff nail the Fed's final rate hike two days before it was made. At the time no else on Wall Street saw this coming, and to this day no one else understands the significance of why Peter was right and what it portends for the future. While I alone believed the Fed was done raising rates, and that they would soon reverse course and cut rates, I also believed cutting rates would be a mistake.
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https://www.youtube.com/watch?v=18aMQyaSls8