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Peter Schiff
GDP Propaganda Exposed!
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Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Thursday, April 25, 2013
Wednesday, April 10, 2013
Peter Schiff: U.S. Economy, David Stockman, Unemployment, Gold
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Peter Schiff
Jobs Report, David Stockman, U.S. Economy, Gold
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Wednesday, February 27, 2013
Recession Indicator Just Reversed to Growth
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David Rosenberg's Recession Indicator Flipped Positive Today
(Business Insider) In October, Gluskin Sheff economist David Rosenberg warned of a big red flag signaling a recession in the United States.
The year-over-year change in the three-month moving average of nondefense capital goods orders excluding aircraft and parts (also referred to as "core capex") had turned negative.
Rosenberg considers this chart the purest look at what businesses are doing with their cash.
Today's durable goods report revealed a surge in core capex in January. Nondefense orders ex-aircraft and parts jumped 6.3 percent, way above economists' estimates of a flat reading.
Today's durable goods report revealed a surge in core capex in January. Nondefense orders ex-aircraft and parts jumped 6.3 percent, way above economists' estimates of a flat reading.
Friday, February 15, 2013
Peter Schiff: The Real State of the Union 2013
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Peter Schiff
The Real State of the Union - 2013
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Wednesday, January 2, 2013
Peter Schiff: Congress Sells America Down the River to Avoid the Fiscal Cliff
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Peter Schiff
Congress Sells America Down the River to Avoid the Fiscal Cliff
In a disgraceful show of political expediency, Congress put its own political self-interest ahead of the national interest. They "saved" us from a contrived crisis of their own making, only to condemn us to far more horrific fate when the real crisis arrives. This one will come not because we went over the fiscal cliff, but because we avoided doing so. Going over the fiscal cliff merely represented a small down payment on the solution. By failing to make it, the ultimate price we will inevitably pay will be that much higher.
In a disgraceful show of political expediency, Congress put its own political self-interest ahead of the national interest. They "saved" us from a contrived crisis of their own making, only to condemn us to far more horrific fate when the real crisis arrives. This one will come not because we went over the fiscal cliff, but because we avoided doing so. Going over the fiscal cliff merely represented a small down payment on the solution. By failing to make it, the ultimate price we will inevitably pay will be that much higher.
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Monday, October 22, 2012
Marc Faber: Europe, UK, USA in a Colossal Mess
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Marc Faber
West in a ‘Colossal Mess’ in Five to 10 Years: Marc Faber
The debt burden in the U.S. and other Western countries will continue to increase, Marc Faber, author of the Gloom, Boom and Doom report told CNBC on Monday, leading to a “colossal mess” within the next five to 10 years.
“I think the regimes will try to keep the system alive as it is for as long as possible, which means there’s no “fiscal cliff,” there’s a fiscal grand canyon,” Faber told CNBC’s “Squawk Box.”
Faber argued that the political systems in place in the West would allow the debt burden to continue to expand. Under such a scenario of never-ending deficits, the Western world would rack up huge deficits. One day, the system would break, he said.
“Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” he said. The U.S. is getting closer to such a revolution, he said, as is Europe.
“I think the timeframe would be within five to ten years you have a colossal mess … everywhere in the Western world,” Faber said. “I think the deficit here (in the U.S.) — irrespective of who is in the White House — will stay above a trillion dollars per annum for at least as far as the eye can see.”
The debt burden in the U.S. and other Western countries will continue to increase, Marc Faber, author of the Gloom, Boom and Doom report told CNBC on Monday, leading to a “colossal mess” within the next five to 10 years.
“I think the regimes will try to keep the system alive as it is for as long as possible, which means there’s no “fiscal cliff,” there’s a fiscal grand canyon,” Faber told CNBC’s “Squawk Box.”
Faber argued that the political systems in place in the West would allow the debt burden to continue to expand. Under such a scenario of never-ending deficits, the Western world would rack up huge deficits. One day, the system would break, he said.
“Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” he said. The U.S. is getting closer to such a revolution, he said, as is Europe.
“I think the timeframe would be within five to ten years you have a colossal mess … everywhere in the Western world,” Faber said. “I think the deficit here (in the U.S.) — irrespective of who is in the White House — will stay above a trillion dollars per annum for at least as far as the eye can see.”
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Monday, October 8, 2012
Marc Faber: Global Crash Coming!
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Marc Faber
Marc Faber's Biggest Warning Yet: Global Crash Coming! Dr. Doom, Marc Faber, warns of a global crash. He discusses China, as well as gold's next move, with CNBC's Jackie DeAngelis and the Futures Now Traders, Rich Ilczyszyn, iiTrader LLC, and Anthony Grisanti, GRZ Energy.
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Sunday, October 7, 2012
Peter Schiff: Unemployment, GDP, Debates, Dollar, Gold!
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Peter Schiff
Peter Schiff: Unemployment, GDP, Debates, Dollar, Gold
Peter Schiff, Euro Pacific Capital.
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Wednesday, September 26, 2012
David Stockman: "Federal Reserve & central banks are fundamental threat to economic future!"
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David Stockman on Federal Reserve Arrogance and Monetary Mission Creep!
Welcome to Capital Account. Now that the Fed has announced QE3 and Japan announced QE 8, Brazil is threatening defensive measures and bringing talk of Currency wars back, according to multiple press reports. Brazil's finance minister coined the term 'Currency Wars' two years ago as governments battled to lower exchange rates to boost competiveness. We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Federal Reserve policy and the lack of market-set interest rates!
Our guest, David Stockman, author of "The Triumph of Politics," recently had some choice words Federal Reserve, stating:"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk." We talk to him about monetary policy, taxes, sound money, and more.
Plus, the U.S. Senate panel probing JP Morgan's multibillion dollar 'Whale Trade' loss plans to unveil its findings to press regulators to tighten the Volcker Rule. We ask David Stockman if this would be enough to rein in too big to fail bank risk.
Also we launch our Facebook page today! Check it out at www.facebook.com/pages/Capital-Account. Lauren shows off the new page and discusses your comments in Viewer Feedback.
Welcome to Capital Account. Now that the Fed has announced QE3 and Japan announced QE 8, Brazil is threatening defensive measures and bringing talk of Currency wars back, according to multiple press reports. Brazil's finance minister coined the term 'Currency Wars' two years ago as governments battled to lower exchange rates to boost competiveness. We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Federal Reserve policy and the lack of market-set interest rates!
Our guest, David Stockman, author of "The Triumph of Politics," recently had some choice words Federal Reserve, stating:"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk." We talk to him about monetary policy, taxes, sound money, and more.
Plus, the U.S. Senate panel probing JP Morgan's multibillion dollar 'Whale Trade' loss plans to unveil its findings to press regulators to tighten the Volcker Rule. We ask David Stockman if this would be enough to rein in too big to fail bank risk.
Also we launch our Facebook page today! Check it out at www.facebook.com/pages/Capital-Account. Lauren shows off the new page and discusses your comments in Viewer Feedback.
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Thursday, September 20, 2012
Jim Rogers: Economic Conditions Will Worsen In 2013 & 2014
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Jim Rogers
Jim Rogers: Conditions Will Worsen in 2013 and 2014.
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Sunday, September 16, 2012
Peter Schiff: Fed Launches Operation Screw, Goes All-In on Quantitative Easing
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Peter Schiff
Operation Screw: The Fed Goes All-In on QE
The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy -- print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods. In other words, build an economy of real estate, by real estate, and for real estate. The only problem is we've been there and done that. The last time it almost destroyed the U.S.economy.
I guess almost isn't quite good enough for the Fed, so now it's determined to finish the job.
These actions will destroy Americans' savings and hurt people on fixed incomes. To protect yourself, I recommend a strategy of foreign equities, commodities, and gold and silver.
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Friday, August 24, 2012
Marc Faber: 100 Percent Odds Of A Global Recession
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Marc Faber: 100% Chance of Global Recession In this "Closing Bell" excerpt, 'Gloom, Boom, & Doom Report' publisher Marc Faber explains why he thinks there's a 100 percent chance a global recession is coming.
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Sunday, August 19, 2012
Peter Schiff: Endless Fed QE, Paul Ryan's Hopeless Budget, Bond Bubble Bursting
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Peter Schiff
Endless QE, Ryan Budget All Hope No Change, Has the Bond Bubble Burst?
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Tuesday, July 31, 2012
Peter Schiff: Phony GDP Growth, Farmer Bailouts, Sub-Prime Auto Loans
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Peter Schiff
Phony GDP Growth, Farm Subsidies, Sub-Prime Auto Loans
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Peter Schiff: America Heading Towards a Collapse Worse Than 2008!
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Peter Schiff
America Heading Towards a Collapse Worse Than 2008 AND Europe! Says Peter Schiff
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable.
"We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse."
In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
"That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff.
Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be.
"Alternatively, we can bail everybody out, pretend we can print our way out of a crisis, and, instead, we have runaway inflation, or hyper-inflation, which is going to be far worse than the collapse we would have if we did the right thing and just let everything implode," he offers.
So what should investors do to protect themselves? Schiff has three suggestions: 1 - Get Out of Treasuries 2 - Own the Right Stocks 3 - Buy Silver and Gold
Breakout with Jeff Macke
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable.
"We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse."
In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
"That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff.
Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be.
"Alternatively, we can bail everybody out, pretend we can print our way out of a crisis, and, instead, we have runaway inflation, or hyper-inflation, which is going to be far worse than the collapse we would have if we did the right thing and just let everything implode," he offers.
So what should investors do to protect themselves? Schiff has three suggestions: 1 - Get Out of Treasuries 2 - Own the Right Stocks 3 - Buy Silver and Gold
Breakout with Jeff Macke
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Thursday, July 26, 2012
Peter Schiff: Fed Must Fess Up and Level With the American Public
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Peter Schiff
Bernanke Must Fess Up and Level With the American Public: Schiff
According to Peter Schiff, president of Euro Pacific Capital, those of you looking to learn what's happening in the U.S. are better off paying attention to almost anything other than Fed Chairman Ben Bernanke's Congressional testimony. "You might be able to to trade off what he has to say but it doesn't have any bearing on what's actually happening," he states.
It would be ideal for Bernanke to start pulling the plug on the monetary stimulus we have to allow the economy to detoxify. We have serious structural problems exacerbated, if not directly caused by fiscal and monetary intrusions already. Comparing our economy to Keith Richards, cancer patients and other terminal cases, Schiff thinks it's long past time to "'fess up, level with the American public and tell them what needs to be done."
Comparing the economy to a heroin addict avoiding withdrawal, Schiff says the only remedy is going cold turkey. The pain of such a move would be brutal for many Americans, but for working taxpayers picking up the tab the relief would be immediate and welcomed. Sounding like a more Draconian version of Ronald Reagan or even Bill Clinton, Schiff thinks reducing benefits will get more people off the dole, drive prices lower and eventually result in a more healthy economy.
None of which you'll hear from Bernanke. The testimony of today and yesterday bring out the worst instincts in everyone involved. Bernanke will evade and the politicians will pander while groping for that one soundbite that will be perfect for an campaign ad. Speaking into microphones and in front of cameras on the Hill is the best way on earth to ensure nothing useful gets done.
"Everybody is resisting the needed reform because it's bad politics," shouts Schiff. Whatever you think of his solutions it's hard to disagree with that assessment.
Breakout with Jeff Macke
According to Peter Schiff, president of Euro Pacific Capital, those of you looking to learn what's happening in the U.S. are better off paying attention to almost anything other than Fed Chairman Ben Bernanke's Congressional testimony. "You might be able to to trade off what he has to say but it doesn't have any bearing on what's actually happening," he states.
It would be ideal for Bernanke to start pulling the plug on the monetary stimulus we have to allow the economy to detoxify. We have serious structural problems exacerbated, if not directly caused by fiscal and monetary intrusions already. Comparing our economy to Keith Richards, cancer patients and other terminal cases, Schiff thinks it's long past time to "'fess up, level with the American public and tell them what needs to be done."
Comparing the economy to a heroin addict avoiding withdrawal, Schiff says the only remedy is going cold turkey. The pain of such a move would be brutal for many Americans, but for working taxpayers picking up the tab the relief would be immediate and welcomed. Sounding like a more Draconian version of Ronald Reagan or even Bill Clinton, Schiff thinks reducing benefits will get more people off the dole, drive prices lower and eventually result in a more healthy economy.
None of which you'll hear from Bernanke. The testimony of today and yesterday bring out the worst instincts in everyone involved. Bernanke will evade and the politicians will pander while groping for that one soundbite that will be perfect for an campaign ad. Speaking into microphones and in front of cameras on the Hill is the best way on earth to ensure nothing useful gets done.
"Everybody is resisting the needed reform because it's bad politics," shouts Schiff. Whatever you think of his solutions it's hard to disagree with that assessment.
Breakout with Jeff Macke
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Tuesday, July 10, 2012
Peter Schiff: USA Jobs, The Real Fiscal Cliff, Obamanomics
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USA Jobs, The Real Fiscal Cliff, Obamanomics The Schiff Report - 7/9/2012
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Friday, July 6, 2012
Doug Kass Bearish on Stocks
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Doug Kass: Why I'm Bearish on Stocks Investor Doug Kass describes what he calls a "potentially toxic cocktail" of negative factors that are making him more bearish on stocks.
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Tuesday, July 3, 2012
Jim Rogers, War, Financial Mafia, LIBOR, Central Banks, JPMorgan!
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Jim Rogers, War and the Financial Mafia - LIBOR, Central Banks and JP Morgan!
Welcome to Capital Account. US manufacturing activity contracts for the first time in 3 years...the weak ISM data came as a shock to economists reportedly. Then orders placed with U.S. factories rose in May for the first time in three months, according to other data. We'll talk about where figures show global confidence, crises, and slowdowns are headed with famed investor Jim Rogers.
Also...Blackrock's Vice Chairman Byron Wien says he spoke to the smartest man in Europe, and what he had to say terrified him. He said, "basically, that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event."
Why do you have to be the un-named smartest man as christened by a Blackstone bigwig for that to hold weight? Just watch a lot of smart men and women who break this down openly any given day on Capital Account. Today, commodities guru Jim Rogers will do the honors.
And it's one, two, three strikes you're out - Barclays top three executives resign in the wake of the LIBOR manipulation scandal. Chairman. CEO. COO. Why haven't we seen this kind of fallout at big banks in the US from any settlements and scandals? We'll muse over it as what do you know - JP Morgan finds itself under investigation for manipulation of electricity markets.
Welcome to Capital Account. US manufacturing activity contracts for the first time in 3 years...the weak ISM data came as a shock to economists reportedly. Then orders placed with U.S. factories rose in May for the first time in three months, according to other data. We'll talk about where figures show global confidence, crises, and slowdowns are headed with famed investor Jim Rogers.
Also...Blackrock's Vice Chairman Byron Wien says he spoke to the smartest man in Europe, and what he had to say terrified him. He said, "basically, that massive amounts of debt will bring the decline of Western Civilization, but that in the meantime, before that happens, policy makers would pull every trick they could in order to stave off a catastrophic event."
Why do you have to be the un-named smartest man as christened by a Blackstone bigwig for that to hold weight? Just watch a lot of smart men and women who break this down openly any given day on Capital Account. Today, commodities guru Jim Rogers will do the honors.
And it's one, two, three strikes you're out - Barclays top three executives resign in the wake of the LIBOR manipulation scandal. Chairman. CEO. COO. Why haven't we seen this kind of fallout at big banks in the US from any settlements and scandals? We'll muse over it as what do you know - JP Morgan finds itself under investigation for manipulation of electricity markets.
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Monday, July 2, 2012
Art Cashin: Dangerous Week Ahead for Markets
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Art Cashin: It's Going to Be a Dangerous Week Arthur Cashin, UBS Financial Services, discusses what he's hearing "on trains and at watering holes" about the outlook on this week's market.
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