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Tag Archives: economy

The Word of the Day Is Volatility: SchiffGold Friday Gold Wrap Oct. 4, 2019

It was a bumpy ride in the markets this week. Right now, volatility is the name of the game – in both stocks and precious metals. People are getting nervous out there with some pretty grim economic data this week stirring up recession fears. Meanwhile, the US government just keeps spending money it doesn’t have. Host Mike Maharrey talks about all of this and more in this week’s episode of the Friday Gold Wrap podcast.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of...

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Dow Jones and S&P 500 Off to Worst Start for a Quarter Since the Great Recession

During his podcast earlier this week, Peter Schiff said “the party is over” in the stock market. As if on cue, the Dow Jones is off to the worst start in a quarter since the 2008 financial crisis.The Dow plunged 494.4 points on Wednesday, a 1.86% decline. Combined with Tuesday’s 343.7 point drop, the Dow is down more than 3% in two days. The 800-plus point slide is the worst start to a quarter since the last three months of 2008. In the fourth quarter of that year, the Dow fell 19.4%.Q4...

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Does the Fed Has the US Economy on Life Support?

The Fed did exactly what markets expected during the September FOMC meeting and lowered interest rates another 25 basis points. It was the second cut of the year and pushed the interest rate down to to the range of 1.75 – 2%.And yet we’re told that this is the economy is “great.”What gives? Economist Robert Murphy said things might not be so great. In fact, it appears the central bank has basically put the economy on life support.Despite the Fed’s short-lived effort to normalize rates in...

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Peter Schiff: A Very Violent Move in the Bond Market

Former Reagan administration OMB Director David Stockman has called this the “mother of all bond bubbles.” Has that bubble popped? That remains to be seen, but bonds got hammered last week.Bonds have pretty much moved in tandem with gold over the last several weeks as perceived safe-haven trades. Peter Schiff talked about it in his latest podcast, saying he thinks the bond market is eventually going to decouple from gold. Bond prices have dropped in the neighborhood of 5 to 6% recently....

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Another Month, Another Record for Consumer Debt

Americans continue to drive the economy along spending money they don’t have. Consumer debt increased yet again in July, setting another record, according to the latest data released by the Federal Reserve.Total consumer debt surged $23.4 billion in July, driven by a huge jump in credit card balances. The big rise in consumer indebtedness took analysts by surprise. said the increase “exceeded all estimates” in a survey of economists. Overall, consumer debt increased by an annual rate of...

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Chuck Reads Draghi’s Mind!

A Pfennig For Your Thoughts September 12, 2019 * Currencies remain in tight ranges… * Trump & Xi decide to not go all-in with tariffs… right now that is! Good Day… And a Tub Thumpin’ Thursday to you! I’m not going to participate today in any Tub Thumpin’, so I hope you help pick up the slack. In fact, I feel like death warmed over this morning, and I can’t believe I got up to write! I should just “mail it in” and live for another day… But I won’t, that’s not who I am… I’ve never given up...

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Peter Schiff: The Only Winners Will Be the People Who Bought Gold and Silver

Gold has been on a three-day skid, but as Fox Business anchor Liz Claman put it, “So what? It’s been a breakout summer for bullion.”Over the last three months, gold is up about 12% and has hit six-and-a-half year highs in recent weeks.Peter Schiff joined Claman, along with, Frank Holmes and Imaru Cassanova on to talk about the yellow metal.Holmes started out the segment saying that recession fears are driving central bank easy monetary policy and that’s good for...

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Peter Schiff: We’ve Accelerated the Process of the Dollar’s Demise

Is the US losing its grip on the world? And could the dollar ultimately be dethroned from its spot as the world’s reserve currency?We’ve reported extensively on countries working to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool, along with the global gold rush on the part of central banks. Last week, Peter Schiff appeared on RT, along with former Pentagon official Michael Maloof, to talk about the world’s growing...

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Here We Go Again! SchiffGold Friday Gold Wrap Sept. 6, 2019

Here we go again!Gold and silver both took a tumble yesterday because US and Chinese officials are reportedly going to have a meeting. Hope that this might mean a thaw in the trade war boosted risk sentiment and drove profit-taking in the precious metals markets.We’ve seen this song and dance before. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about it. He also points out some very interesting Federal Reserve news that nobody in the mainstream has even...

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Peter Schiff: We Now Have the Weakest Manufacturing Economy in 10 Years

US manufacturing activity contracted in August, according to the latest data.The Institute for Supply Management (ISM) PMI index for August came in at 49.1. Any number under 50 signals a drop in manufacturing. This was the first contraction in three years and the first time the index has dropped below 50 since August 2016. August marked the fifth straight monthly decline.Meanwhile, IHS Markit PMI hit 50.3, the lowest number since September 2009 – in the aftermath of 2008 crash. [embedded...

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