This morning we got the first look at Q2 GDP Q1 had been reported most recently at -.2 Everybody was looking for an upward revision due to the double seasonal adjustments The revision brought Q1 into the black, but only by .6 Q2 expectation was 2.9; instead it came in at 2.3 I had mentioned […]
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Worst Recovery Since WWII Just Got Worse – Ep. 99 Read More »
By: Peter Schiff, President and CEO Euro Pacific Capital While the world can count dozens of important currencies, when it comes to top line financial and investment discussions, the currency marketplace really comes down to a one-on-one cage match between the two top contenders: the U.S. Dollar and the Euro. In recent years the contest
The Euro Isn’t Dead Read More »
The Dow Jones had its worst week since January – closed the week at 17,568, down 518 points Friday’s drop alone accounted for 163 points Capital One had a huge earnings miss and announced big layoffs Big losses on bad debt All the economic data from this year has been negative There is no precedent
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Fed Leaks, Fast Food, Housing & Gold – Ep.98 Read More »
By: Peter Schiff, President and CEO Euro Pacific Capital In his July 17th Blog, Let’s Get Real About Gold, author and Wall Street Journal columnist Jason Zweig likened investor interest in gold with the “Pet Rock” craze of the 1970’s, when consumers became convinced that a rock in a box would provide continuous companionship, elevate
Currencies Depend on Faith, Gold Doesn’t Read More »
Today’s Podcast is entirely devoted to gold and gold stocks Last night, in just a few minutes, gold dropped $50 One or more major sell orders hit the market at the same time and gold went down below $1100 It was down $20 by the time New York trading opened and by market close gold
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Gold’s 50-Dollar Sunday Night Collapse Explained – Ep. 97 Read More »
Today Janet Yellen goes back up the Hill for the second of her 2-day Congressional testimony and the press has already made headlines about what she did not say According to the headlines, Yellen’s “hawkish” testimony reflected that she is putting the Fed on a path to hike rates later later this year That is
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Yellen Almost Admits Economy Too Weak to Raise Rates – Ep. 96 Read More »
By: Peter Schiff, President and CEO Euro Pacific Capital While Greece is now dominating the debt default stage, the real tragedy is playing out much closer to home, with the downward spiral of Puerto Rico. As in Greece, the Puerto Rican economy has been destroyed by its participation in an unrealistic monetary system that it
How Socialism Destroyed Puerto Rico, and How Capitalism Can Save It Read More »
As I have been saying all along, the Greek Prime Minister capitulated to German demands In fact, he is agreeing to a plan that is more onerous on Greece than the one he encouraged his own people to vote down just over a week ago Those who thought Greece held all the cards, that the
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The Real Reason Greece Folded – Ep. 95 Read More »
This podcast comes from my hotel room in Las Vegas, as I am attending Freedom Fest Janet Yellen received a standing ovation at the end of her talk, and I can’t understand why… Headlines from the talk report “Rates to go up by the end of the year” Actual quote:”Based on my outlook, I expect
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Yellen Continues to Talk What the Fed Can’t Walk – Ep. 94 Read More »
Over the weekend the Greeks voted no to the Eurozone bailout terms The Greeks ars still hoping for a better deal, hoping to avoid austerity The irony is that the consequences of their vote will bring on even more austerity, as a return to the drachma will result in a lower-valued currency For example, pensioners
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Out of the Frying Pan Into the Fire – Ep.93 Read More »
