Weak Holiday Sales Confirm The Best Bargain Is Gold – Ep. 121

Weak Holiday Sales Confirm The Best Bargain Is Gold – Ep. 121


* I am recording this podcast on Cyber Monday
* Cyber Monday first got its name because e-commerce wanted its own version of Black Friday
* It's losing some significance, given it is losing some of its competitiveness because of the strong online sales during Black Friday
* Online sales were up about 20% over last year, but the brick and mortar retail sales were down about 10%
* The retailers' inventories were positioned for a big increase
* I think this holiday sales season will be weaker than expected, just as last year was
* I think we may see more returns on the online sales this year
* When the after Christmas sales start, we'll see more aggressive pricing in the brick and mortar stores, getting rid of excess inventory
* What is the Fed going to do with weak Black Friday sales data?
* We got more data out this morning, the Chicago PMI, horrible number
* Last month we got a bounce up to 56.2
* It turned out to be a dead cat bounce - November's number was expected at 54 and delivered 48.7
* We are back in contraction mode
* If the Fed does raise interest rates in December, it will prove that it was not data dependent, and that the Fed's credibility was the primary reason for the hike
* This Friday, the Non-Farm Payroll number will be the last number before the Fed's December meeting, making it once again, the most important jobs number ever
* Former Fed Governor Lawrence Lindsey recently pointed out on CNBC that the Fed has created another bubble
* He stated that asset price inflation is going to end badly
* In response, Joe Kernan questioned the assumption that the asset bubble will end badly
* Historically, all bubbles end badly
* I also wanted to comment on a WSJ article today predicting that the Fed would continue to raise interest rates, while the ECB would continue to ease rates into negative territory, and that U.S. interest rates would be 2.75% by early 2018
* How can they know that this will happen?
* If this is the case, it also assumes that there will not be a recession between now and 2018
* This would make it the longest recovery in history, while also requiring the most stimulus
* The WSJ article also assumes that the European economy will remain in recession for two years
* The article's logic is that the dollar is going to go up and the euro is going to go down
* Which brings me to gold
* Gold was down about $15; however gold stocks did not make a new low - up about 2% today
* This is a positive technical divergence
* The gold stock price may be anticipating a dovish December Fed meeting
* The ECB and Japan is talking up inflation, which is bullish for gold
* The problem is that if the ECB is more dovish than the Fed, it depresses gold prices in dollars
* The dollar is still losing its value
* All fiat currencies are being debased
* In the U.S. economy, M2 is growing at 6% a year
* Even if you believe the government's GDP numbers, it is growing at 2% a year
* So the money supply is growing three times the GDP
* That is as inflationary a monetary policy as we've ever had
* We have money supply growth, negative interest rates and no ceiling on the national debt
* This is an extremely bullish environment for gold, but the market is simply looking at the price of the dollar vs. the euro
* At some point the dollar is going to be weaker than the euro
* This looks a lot like the 1960's when the price of gold was constant because of artificial intervention
* There was a lot of demand for physical gold at that time
* Eventually when the artificial constraints were removed, the price of gold skyrocketed
* There are some artificial influencers on the price of gold right... Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

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Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28 * This holiday shoppers had more shopping hours * 5% less traffic than last year * 11% less money spent than last year * The economy can't support robust holiday sales * Despite big drop in gas prices * Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

1 Joulu 201424min

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27 * Oil and gold stocks down * OPEC announced no decline in oil production * Crude trading below $66/barrel * Bump to the Dollar * Mining sector takes a hit * Gold down * A no vote on Swiss Gold initiative bullish for gold Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

30 Marras 201435min

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26 Missing expectations on all economic indicators * Chicago Fed index .14 * PMI flash services 56.3 * Dallas Fed Manufacturing 10.5 * Case Shiller Index slows down to 4.9% * Consumer Confidence number down to 88.7M * Oil prices continue to fall * Big drop in Richmond Fed 75% below estimate * Optimism fueled by debt, consumption and bubbles Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

26 Marras 201428min

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict: Episode 25A * Riots are not the caused by the Grand Jury * The Grand Jury's statement did not address Michael Brown's culpability * All evidence points to officer's innocence * Media fears addressing Michael Brown's violent behavior * Young men are not raised to respect the law * This will happen again because there is no recourse to violence and false witness< Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

25 Marras 201417min

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman runs premature victory lap: Episode 24A * Assumes that money-printing works because there is "no inflation" * Krugman's cure for the stock market bubble was the real estate bubble * The test is when the printing presses stop Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

25 Marras 201417min

SchiffRadio Podcast Episode 24

SchiffRadio Podcast Episode 24

Big News out of the Central Banks * U.S. FOMC * Primary concern - inflation is too low * no policy to "correct" the problem * Preparing markets for additional stimulus * Japanese Central Bank Doublespeak * Japanese sales tax hike postponed * Continued calls for more inflation * Why is sales tax is different than inflation? * Euro Decline * Mandating "stability" by increasing inflation? * Chinese Central Bank * Cut interest rate to 5.6% * Money flows to the dollar as a hedge because the market believes the Fed * Gold has not dropped much against the dollar and has risen against other currencies Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

22 Marras 201431min

SchiffRadio Podcast Episode 23

SchiffRadio Podcast Episode 23

Episode 23: Going to Extreme to Prove a Point: Two articles about Peter Schiff: * MarketWatch - writer refused to address corrections before going to print except for my official title - The point of my forecasts is to help people avoid problems ahead of time - I did not call for a stock market crash; I predicted QE4 - The Fed can prevent a Dollar Crisis - I said hyperinflation is unlikely, but a possibility * New Republic - Writer quotes selectively from a Reason article to prove his own spin - Points to the CPI to refute real inflation - The price of a Big Mac mirrored the CPI until 2002 - Now price of Big Mac rises 2x as fast as CPI - This illustrates how the government measures inflation Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

21 Marras 201427min

SchiffRadio Podcast Episode 22

SchiffRadio Podcast Episode 22

Episode 22: Lessons from the Michael Brown Case: * Don't rob a convenience store. * Don't rob a convenience store while high. * Don't be conspicuous after robbing a convenience store while high. * If a policeman then stops you, obey the policeman. * Do not try to take the policeman's gun away from him. * But if you get shot in the hand going for the gun and run away, do not charge the policeman when he says, "freeze!" * The political narrative hides the real problem: unhealthy family life. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

20 Marras 201421min

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