Peter Schiff: This House of Cards Will Come Crashing Down On Consumers

peter-schiff:-this-house-of-cards-will-come-crashing-down-on-consumers

04-12-19 11:49:00,

Via SchiffGold.com,

Stocks closed out November on a high note with the hope of a trade deal fueling Wall Street. But is this warranted? And are consumers really doing as well as the mainstream would have us believe? Peter Schiff appeared on RT Boom Bust last week to talk about it. He said it’s all a house of cards and it’s going to come crashing down on American consumers.

Peter started out the interview talking about Hong Kong. The territory became a focal point in trade talks between the US and China after President Trump signed the Hong Kong Human Rights and Democracy Act supporting pro-democracy protestors. Peter said US criticism is a bit hypocritical.

If you look at the index of economic freedom that the Heritage Foundation puts out every year, Hong Kong ranks number one. Today, it’s the freest economy in the world. The United States ranks 12th on that list. So, I’m more concerned about the freedom of our own people. So, rather than worrying about the freest people in the world, how about if our leaders try to find a way to make Americans more free?”

One of the Boom Bust hosts pointed out that President Trump has said he is trying to broker a deal where America does much better than the Chinese. She asked how we can expect to get a deal done when the president doesn’t seem to be interested in a “fair” deal. Peter said pushing for an advantage is just the nature of negotiating. But he said he doesn’t really think Trump is trying to get a deal done.

Trump just wants the stock market to go up. And as long as the stock market is going up, he couldn’t care less about a deal with China. Maybe if the stock market really started to tank, then he might feel some type of pressure to actually deliver a deal. But as long as he can make the market go up by talking about the prospects of a deal, then that’s all Trump wants.”

As far as the US stock markets go, Peter said there are a  lot of things that should be causing them to go down,

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Peter Schiff: “The Recession Is A Done Deal” Thanks To The Fed’s Rate-Hikes

peter-schiff-8220the-recession-is-a-done-deal8221-thanks-to-the-fed8217s-rate-hikes

22-01-19 09:24:00,

Via SchiffGold.com,

Optimism about a trade deal with China along with increasing expectations that the Federal Reserve will slow the pace of interest rate hikes buoyed the markets last week.

This has led many pundits to declare that the correction is over. Some have even declared its a new bull market. In his latest podcast, Peter Schiff said that’s not what’s happening at all. What we’re seeing is a typical bear market correction and a recession is right around the corner.

All day Friday, pundits on CNBC emphasized that the Dow has risen out of “correction” territory, meaning it is no longer 10% below its highs. Peter took issue with this analysis.

First of all, we didn’t enter a correction. We entered a bear market. Now, bear markets have corrections too. They’re called rallies. Except the people and CNBC don’t get that. They think the only correction is a move down in a bull market.”

Peter said this correction is actually helping this bear market fall a “slope of hope.”

So, what is driving this bear market correction? Just like Peter predicted – the Federal Reserve.

As I’ve been saying, I began forecasting, even before the first rate hike in December of 2015, that if the Federal Reserve ever tried to normalize interest rates, it would never succeed. It would never be able to get rates back to normal because somewhere along the way they would tip the stock market into a bear market, cause a recession, and the Fed would back off. And that’s exactly what happened. The minute the stock market went into a bear market in the fourth quarter of last year, by early this year, everybody did an about-face, and all of a sudden, there are no more rate hikes, no more autopilot. They’re just, you know, being patient.”

We’ve been reporting on the Powell Put, but the Fed chair isn’t alone in his dovishness. In fact, San Francisco Fed President Mary Daly said rate hikes are “on pause” last week, even though she sees no sign of a recession.

Peter said they if they are pausing now,

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Peter Schiff: “We’re In A House Of Cards That The Fed Built”

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20-12-18 09:22:00,

Authored by Mac Slavo via SHTFplan.com,

Economic analyst Peter Schiff, who accurately predicted the 2008 recession said recently that we are not in a bear market. Instead, “we’re in a house of cards that the Fed built.”

Schiff is referring to the Federal Reserve, the United States’ central bank that answers to no one, has no competition, and has been responsible for every depression and recession since its inception. Schiff, who is the chief executive of Euro Pacific Capital, a longtime gold bug and market pundit, has been putting the upcoming economic disaster squarely on the shoulders of the Fed -very much where that blame belongs.

“I’m watching the U.S. economy implode from the beach,” Schiff told MarketWatchduring a recent phone interview from a beach in Puerto Rico.

“We’re in a lot of trouble,” he said.

Schiff has often been considered “polarizing”  to Wall Street pundits because he calls the Fed out for their destruction of the economy and that’s just not something most want to hear.  The prominent investor should be worthy of investors’ attention, however, because his prescient calls ahead of the 2008 financial crisis, which earned him plaudits as one of the few able to spot a global economic crisis emanating from the housing market, were correct as  MarketWatch reported.

Schiff says that after a decade of “easy money” policies, such as money printing and low interest rates, the Fed has set up an economy unable to cope with a rise in rates.

Schiff added that the inflation that has taken hold in the lofty prices of stocks and other assets and predicts will gradually shift to higher prices for consumers, who are already feeling their wallets burn thanks to the trade war. The other big problem is that Americans are broke Any interest rate hike could push debt-laden and cash-strapped Americans to the brink forcing them to choose which bills will get paid.

Meanwhile, the most recent reading showed that the 12-month rate of inflation was flat at 2%  (as measured by Federal Reserve’s preferred PCE) or personal consumption expenditures,

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Peter Schiff: In The Impending Collapse “Everything That Can Go Wrong, Will”

Peter Schiff: In The Impending Collapse “Everything That Can Go Wrong, Will”

23-01-18 08:40:00,

Authored by Mac Slavo via SHTFplan.com,

The impending economic collapse is hidden from most. People only see a rising stock market, not the negative underlying factors that will cause the whole system to crash.

https://www.zerohedge.com/sites/default/files/inline-images/20180117_schiff_0.png

The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital. “We have just begun a major, long-term bear market in the dollar,” he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at roughly $63 a barrel. Shiff focuses on oil as just one example of the inflation that will help collapse the dollar.

When the price of oil rises, it reverberates through the economy. Peter called it a gigantic tax hike for consumers. But the Fed is still worried prices aren’t going up fast enough and that they won’t hit the mystical 2% goal.

“They’re going to hit that out of the park. They’re going to be looking at 2% in the rearview mirror – in the distant rearview mirror. That is going to be the big story. They’re going to way overshoot and they’re not going to be able to do anything about it.” –Peter Schiff

Schiff also warns that the dollar’s decline is just getting starting.  He also says “everything that can go wrong, will.” We are not experiencing economic growth.  We are experiencing inflation.

“High inflation is not good for the dollar. By definition, high inflation means the dollar is losing purchasing power. If the dollar is losing purchasing power, that is bad for the dollar,” Shiff explains.

“If they [the public and investors] don’t think there’s going to be inflation, they’re wrong. Those expectations are totally wrong. People are ignoring what is going on in the currency market, what’s going on in the commodities markets, what’s going on in the bond markets. All of this stuff is flashing inflation – at least the way you measure it – consumer prices.” –Peter Schiff

Shiff continues with even more dire news.

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