First it was the ECB, and then it was the Bank of Japan, cutting interest rates overnight to -.1% That is the first time in this 20-year experiment of cheap money – I think they’ve been at zero, but they’ve never gone negative until just now One of the most ironic aspects of the move […]
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BOJ Goes Negative, 2 Down 1 To Go ! – Ep. 136 Read More »
As I said in my last podcast, when the the Federal Reserve issued its press release yesterday at 2:00pm, Janet Yellen did not give the markets they were hoping for; in a way, it was almost as if she threw them an anchor instead, because the Dow Jones ended up falling about 200 points as
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The Short Lady Has Not Sung Ep.135 Read More »
The Mario Draghi “No-Limits”-inspired rally from Thursday and Friday of last week ended on Monday with the Dow Jones down just over 200 points; the NASDAQ was down about 75 points, so an even bigger percentage drop But today the market reversed; the Dow actually recouped 100% of what it lost, it rose 282 points
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This Time It’s Different Ep. 134 Read More »
By: Peter Schiff, President and CEO Euro Pacific Capital Making their annual pilgrimage to the exclusive Swiss ski sanctuary of Davos last week, the world’s political and financial elite once again gathered without having had the slightest idea of what was going on in the outside world. It appears that few of the attendees, if
The U.S. stock market ended the week with a 2-day rally, in fact the Dow Jones closed better than 200 points today, to about 1690 NASDAQ, even stronger, up 119, closing at almost back up to 4600 The rally actually began early yesterday morning, and not just in stocks Oil had a huge rally, in
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The ECB Rescues The Markets – Ep. 133 Read More »
The bear market in global stocks continues, and I believe we’re in a bear market in the U.S. Technically the major averages are not quite down 20%, although some of the averages are Transports were down 30% from their highs The Russell 2000 was down more than 25% Many individual sectors are way down into
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It Looks Like a Recession Because It Is One – Ep. 132 Read More »
The Dow Jones ended another down week on a down note, dropping 390 points The NASDAQ was down 126 points This is the worst January in the history of the stock market the Dow is off about 13% from its highs, the NASDAQ about 15%, firmly in correction territory We are probably in a bear
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Fed’s Denial Risks More Than Its Credibility Ep.131 Read More »
Last night I watched President Obama deliver the State of the Union Speech and probably the only good thing about the speech is that it was his last one It will probably go down in history as the most clueless State of the Union Address ever All he talked about was how great the economy
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Obama Delivers the Most Clueless SOTU Address Ever – Ep.130 Read More »
Hi everybody, this is Peter Schiff and I am recording this on Friday, January 8, and Wall Street just finished the worst opening week to a new year in the history of the stock market The Dow Jones was down another 1% on Friday to finish the week better than 1,000 points – it was
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Deja Vu All Over Again – SchiffReport January 8, 2016 Read More »
Well the Dow Jones got clobbered again today, down 252 points at the close The NASDAQ down about 55 The transports continue to get clobbered down another 146 points, decisively in bear market territory CNBC blamed the entire decline on jitters over North Korea’s hydrogen bomb test I admit that this prospect is not good,
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Fallout From the Fed Not North Korea Shocked the Markets – Ep. 129 Read More »
