The Peter Schiff Show Podcast - Episode 470
Recorded May 29, 2019
The End of the Bear Market Rally -
Back on May 1, when I did my podcast, I officially called for the end of the bear market rally that so many people had confused for a new bull market, and the impetus for that call was the Fed coming out and not living up to Wall Street's expectations for just how dovish the Fed was. Remember, the market was starting to factor in rate cuts, not just an end to the tightening cycle, but the beginning of the next easing cycle. And Jerome Powell basically threw cold water on that by talking about how low inflation was transitory, and how he expected it to go back up, and all of a sudden the markets were starting to think that the Fed wasn't going to cut rates and the market went down a bit.
The Fed Giveth and the Fed Taketh Away -
I thought that given that the rally was built based on the Fed, that what the Fed giveth by being more dovish than the markets expected the Fed had finally taken away by being more hawkish. Even though I didn't believe that the Fed was as hawkish as the markets believed, I believe the Fed is far more dovish than the markets believe. But once Powell dashed those hopes, that was enough, I thought, to take the wind out of the sail of the rally.
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Rep. Louie Gohmert (R-Texas), fourth term congressman from Texas's First District, on the latest from the budget battling in Washington
www.SchiffRadio.com (2/28/2011)
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https://www.youtube.com/watch?v=o-EjJQ4xo-M
The Peter Schiff Show Podcast - Episode 198
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Peter Schiff on Yahoo Finance (3/21/13)
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Peter Schiff on CTV (8/1/2013)
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· Wall Street parties on CPI data release.
· Minimum wage is bad economics.
· Democrats prepare to shakedown the middle class while protecting the billionaires and millionaires.
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#inflation #recession #IRS
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https://www.youtube.com/watch?v=x8oXJ1SQiUc
Jobs data weak and revisions are worse.
Bond yields weighing heavy on gold prices.
Dollar gets clobbered by disappointing economic data.
Oil prices rising and going higher.
Increasing trade deficit will soon explode.
Kamala Harris and the Senate pass $1.9 trillion stimulus bill.
This is the first and probably smallest of many stimulus payments from Joe Biden.
Warren, Sanders, AOC pushing Biden for student loan forgiveness.
Bitcoin hodlers seem to be the only ones talking about inflation.
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The Peter Schiff Show Podcast - Episode 450
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Wall of Overhead Resistance -
It looks like the correction in the U.S. stock market, and by correction I am referring to the rally, the first correction in what I believe is a new bear market - but it's looking like that correction may have finally run its course as the stock market has run into a wall of overhead resistance. In fact, the technical action on Monday was quite telling, because early in the morning we opened quite a bit higher - 100 points or so higher, and then had a 350-point reversal to the downside. The catalyst for the initial rally was yet another rumor of an impending trade deal with China. And it seems to me that we've basically run out of the ability to continue to rally the market by regurgitating the same news story over and over again.
Now They've Sold the Last Rumor -
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https://www.youtube.com/watch?v=0evMicdHfI8