Today was the end of the month of September; it's also the end of the third quarter we are now beginning the final quarter of the year. When we come back to trading next week, we will be in the month of October, and as I mentioned on my last podcast, we have had some substantial stock market declines in October, obviously not every October has a big drop, in fact most of the Octobers don't, but some of the most notable declines have occurred in the month of October, including the crash of 1987 and the crash of 1929.
Why I interrupted Joe Rogan.
Are capitalists mean?
Dictionaries changed the definition of inflation.
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The Peter Schiff Show Podcast - Episode 29
http://www.USTaxFreeZone.com
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The Peter Schiff Show Podcast - Episode 487
Recorded July 26, 2019
What is Really Happening to Corporate Profits? -
Both the S&P 500 and the NASDAQ rose to all-time record highs today; nominal highs, of course. The Dow Jones didn't quite make it to a new high, it did close better than 50 points higher - 27,192.45, but probably the most interesting thing about the record high, is what's actually happening to corporate profits. I'm talking about operating profits, which are profits before you subtract interest and taxes. I'm looking at some new statistics that came out today. There were some revisions that came out from the government; some of them on the GDP, which I will get to a bit later in the podcast.
Corporate Operating Profits Moved Sideways Since 2014 -
Just looking at corporate operating profits, it turns out that operating profits actually peaked in the third quarter of 2014. That is while Obama was still President, a few years before Trump was President. So corporate profits - operating profits peaked in Q3 of 2014. And they basically have been going sideways ever since, although they have been dipping recently. If you take a look at the last quarter, operating profits are now the lowest they've been since 2011.
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https://www.youtube.com/watch?v=FgErPB_GGrY
The Peter Schiff Show Podcast - Episode 467
Recorded May 13, 2019
VISIT PETER AT THE LAS VEGAS MONEY SHOW
May 13 - 15, 2019
https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/
As Noted on My Last Podcast… -
As I suspected on Friday's podcast, the 400-point reversal that saw the Dow move from down 300 points + to up 100 points on the close was in fact, reversed today, and the Dow Jones actually closed below the Friday low, which is a huge negative, technically for the index. The Dow was down 617 points; that's about 2.4 %. But the real carnage was in the NASDAQ. That was down 3.4%. The Russell 2000 also down better than 3% - 3.2%, showing that domestically focused stocks are actually getting hit harder than the multi-nationals.
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https://www.youtube.com/watch?v=cqMr3_wEi1Y
Biden reappoints #Powell as Fed Chairman and promotes #Brainard to Vice Chair.
Gold sells off and dollar rises on Fed news.
Investors worried about inflation under Powell two days ago now celebrate Powell’s reappointment.
If Biden wanted to fight inflation, he’d stop creating it.
Generation of entitled American socialists don’t think stealing is wrong.
MSNBC promotes racism.
Law abiding citizens don’t use cars or guns to kill people.
#Rittenhouse trial being used to promote Communism.
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· 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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The last U.S. presidential debate reminded me of my first Connecticut Senatorial debate. If you watch this debate you will understand why Linda McMahon, the winner of that primary, never agreed to participate in a second.
Peter Schiff, Linda McMahon, and Rob Simmons Debate
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