Short week closed with some horribly bad news People are not paying attention to the data; they are paying attention to the Fed Government released revision to the GDP: -.7 The assumption of deflation is cooked into the number Most Q2 data is weak Q1 Corporate profits plunged by 5.9% JP Morgan announced 5,000 layoffs […]
Markets Still Fooled as Fed Plays “Let’s Pretend” – Ep. 86 Read More »
Just as the steady torrent of awful economic data, which began in the First Quarter and continued well into April and May, had forced many market analysts to grudgingly concede that 2015 would not see the robust economic growth that most had expected, the statisticians arrived on the scene like a cavalry charge and routed
The Fed Considers a More Seasoned Approach Read More »
The U.S. dollar started out this morning on the defensive Government released CPI numbers generated a sharp reversal across the board Gold sold off, but closed slightly down against the dollar April CPI up just .1% on the month; year over year prices dropped -.2% Lowest CPI since October 2009 Core CPI (excludes food &
Currency Traders Still Buying Rate Hike Rhetoric – Ep. 85 Read More »
By Peter Schiff To hear BitGold founders Joshua Crumb or Roy Sebag talk about their new company, one would think they came up with the idea of individuals transacting in gold or using a debit card to access their gold holdings on their own. While I agree it’s a good idea, it’s certainly not original.
Imitation Is the Sincerest Form of Flattery Read More »
Earlier today latest FOMC minutes released Once again the weather is blamed for missed expectations, pretending the economy is better than it is Now the Fed dismiss numbers as inaccurate, because seasonal adjustments are off Why does the government need to seasonally adjust the numbers Yearly GDP is the number that matters Once the numbers
The Fix Is In. Government to Rig GDP Again. – Ep. 84 Read More »
S&P responds to bad news with new high; DJ just barely off record high Dollar continues to fall The currency traders still have not accepted the significance of bad news Lower dollar will be the trend Friday got a trifecta of bad economic news Thursday Weekly Jobless Claims number declined to 264,000 – lowest weekly
Fewer Hires Means Fewer Fires – Ep. 83 Read More »
Another week and another round of bad economic news Wall Street may be finally paying attention JOLT Report projected at 5.158 million; came in at 4.994 million April Retail Sales expected to rise .2%; came in flat X Automobiles expected an increase of .5, actual number was .1 Beneath the surface there was a collapse
U.S. Economy Teetering on the Brink of Recession – Ep 82 Read More »
Below please find the latest commentary from Peter Schiff, CEO of Euro Pacific Capital. Please feel free to excerpt or repost with proper attribution and all links included. Click here to signup for both of Peter Schiff’s Free Newsletters. By: Peter Schiff, President and CEO Euro Pacific Capital We live in an age where bad
See No Evil: What We Chose to Ignore in the April Jobs Report Read More »
First official jobs report of Q2 Wednesday’s ADP private payrolls were below expectations March was revised down, indicating a softer labor market Challenger job cuts numbers well above previous month, biggest year over year increase in 10 years The jobs number came in at 222,000 jobs with unemployment down to 5.4% The media is spinning
The April Jobs Report and My Encounter With Ben Bernanke – Ep 81 Read More »
Below please find the latest commentary from Peter Schiff, CEO of Euro Pacific Capital. Please feel free to excerpt or repost with proper attribution and all links included. Click here to signup for both of Peter Schiff’s Free Newsletters. By: Peter Schiff, President and CEO Euro Pacific Capital Over the past decade or so, “transparency”
The Embarrassment of Transparency Read More »