Good Earnings Can’t Support an Over-Priced Stock Market – Ep. 348

Good Earnings Can’t Support an Over-Priced Stock Market – Ep. 348

The Correction is Over and the Bear Market is Resuming
As I have been speaking about in my last couple of podcasts, it looks like the period of relative calm in the markets is over and the next leg down has begun. So the correction is also over - not the downward move - that is not the correction - this is the bear market. The upward move was the correction. It was the first correction in this young bear market. Technically it is not a bear market yet because we're not down 20% but that is only a matter of time. So I think the correction is over and the bear market is resuming, the primary trend being down.
Dow Transports Big Losers
In fact, the U.S. stock market was down for its fifth consecutive day, although today was the biggest decline. The Dow ended down 424 points. We managed to close just above 24,000 at 24,024. But we were well below. At the lows of the day we were down about 600 points. Percentage wise we were down 1.74%. The NASDAQ, about the same, down 1.7%. At the lows it was down close to 150 points on the NASDAQ. Percentage wise, the Dow transports were the big losers, down 221 points - 2.08%.
Earnings Don't Matter
Now, one of the things that investors have been counting on to support stock prices and, in fact, drive them higher, were earnings. Everybody's been saying, "Earnings are going to be higher!" Now what have I been saying on my podcasts, over the last several months? I've been saying that it doesn't matter, because all these great earnings, if they materialize, are already baked into the cake. They are already discounted into the price of the stocks. So in other words, they don't matter. It's "buy the rumor, sell the fact".
Double Whammy of Faster Growth and Lower Taxes
If everybody knows that earnings are going to be good, well, they've priced in those expectations into the market. Why do you think the market has gone up so much since Trump was elected President? It was on the anticipation of all these earnings that were going to come from a combination of faster growth and lower taxes. In fact, the lower taxes are why we were going to get the growth, so it was going to be a double whammy. Well, all that was priced into the market.

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Jaksot(1085)

Taper Already Priced In. Now What? – Ep 734

Taper Already Priced In. Now What? – Ep 734

* Less dovish is not hawkish. * Mother of all bear markets in bonds may have just begun. * Republicans only care about deficits and spending when Democrats are in charge. * Plans for minting $1 trillion platinum coin would officially make the U.S. a banana republic. * 
Increase in home inventory could lead to decrease in home prices. * Standard of living will drop for American service workers as their pay decreases and the prices of products they buy increase. * Bitcoin can’t be digital gold if Bitcoin trades the opposite of gold. * Buying Bitcoin is gambling, not investing, and governments regulate gambling. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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 Syys 20211h 7min

The Fed That Cried Taper – Ep 733

The Fed That Cried Taper – Ep 733

* Fed says the economy is great, but they will maintain the emergency policies they put in place when the economy was terrible. * Fed will always choose to fight unemployment over #inflation. * Fed turns blind eye to inflation because the alternative is a complete economic implosion. * Fed’s policies disproportionately hurt African Americans. * Republicans only care about the debt ceiling when they can use it as a political weapon. * Jerome Powell dismisses concerns over #Evergrande and excess corporate leverage. * Gold will explode and the dollar will implode when markets start to realize the #Fed keeps crying wolf. * Gold went up with safe havens while Bitcoin fell with risk assets. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

23 Syys 202145min

Paying More, but Buying Less – Ep 732

Paying More, but Buying Less – Ep 732

* China won’t let Evergrande be the next Lehman Brothers. * Fed took us 1 step forward and 100 steps back. * Higher retail sales doesn’t mean consumers are buying more. * Americans are least likely to buy a new car since 1974. * Sweden sets successful example for dealing with Covid. * America is worse off for invading Iraq. Go to https://Bambee.com/gold to schedule your FREE HR audit. For a limited time, get 40% off a Calm Premium subscription at https://Calm.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

18 Syys 202154min

When There’s Too Much Money, There’s Never Enough Stuff – Ep 731

When There’s Too Much Money, There’s Never Enough Stuff – Ep 731

* Take the CPI numbers with a grain of salt. * The CPI will catch up to the PPI. * Fed’s new definition of transitory means a permanent reduction in standard of living. * The problem isn’t a shortage of stuff, it’s an excess of money. * Inflation is always and everywhere a monetary phenomenon. * Consumers are expecting higher prices. * Gold stocks mark potential turning point. * Inflation will pay for government spending, middle class will pay for inflation. * Hedge funds buy preferential tax treatment from politicians. Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

15 Syys 202157min

Government Is Consistent; It Always Lies – Ep 730

Government Is Consistent; It Always Lies – Ep 730

* Producer Price Index numbers come in higher than expected for 9th month in a row. * Inflation trends show no sign of being transitory. * When you properly define inflation, you know exactly who’s causing it. * Bitcoin whales want the minnow’s cash. * There are more job openings than unemployed people. * Left shows its true colors after hate crime against Larry Elder. * 
Media buries stories of racist Democrats. * The government took away our freedom so the terrorists wouldn’t have to. * Tax havens keep a lid on taxes everywhere else. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. Become a Firstleaf member and get 6 bottles of wine for $29.95 and free shipping https://TryFirstLeaf.com/GOLD INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

11 Syys 20211h 6min

Let’s Replace Labor Day With Entrepreneur Day – Ep 729

Let’s Replace Labor Day With Entrepreneur Day – Ep 729

* Grover Cleveland was really a libertarian and one of our greatest presidents. * The populist movement lead to Labor Day and ultimately in 1913 to the The Federal Income tax, The Federal Reserve, and the popular election of U.S. Senators. * The Woodrow Wilson presidency proved to be a disaster for America. * Washington incumbents have rigged the system. * Workers have benefited from entrepreneurs, despite the drag of labor unions. * Henry Ford’s risk taking resulted in higher wages for his workers and cheaper cars for his customers. * Business owners are in the crosshairs of the government. Get an extra 3 months Free on a one year package: https://expressvpn.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

6 Syys 202159min

Summer Data Swoon Puts Fall Taper in Doubt – Ep 728

Summer Data Swoon Puts Fall Taper in Doubt – Ep 728

* Jobs numbers disappoint expectations, but Biden brags. * Inflation expectations highest since just before 2008 financial crisis. * AOC pressures Biden to nominate a more woke Fed chair. * Fed causing a lack of savings, which pushes up asset prices and makes the rich richer. * Gold prices calling Fed’s bluff on tightening. * If Bitcoin is better than gold, Ethereum must be better than Bitcoin. * Markets not sure if bad news is good news or if bad news is bad news. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

4 Syys 20211h 2min

Tapering the Taper Talk – Ep 727

Tapering the Taper Talk – Ep 727

* Powell offers no clues on taper timetable. * Powell vows to keep interest rates low until QE is finished. * Powel blames price increases on exploding demand and lack of supply. * Powel blames inflation on the public’s expectations. * Fed’s only goal is to delay the inevitable crisis as long as possible. * Invest in gold stocks before they recover ground they never should have lost. * Afghanistan proved to the world that the US is no longer a military or economic super power. * America’s biggest export may soon be our used cars. For a limited time, get 40% off a Calm Premium subscription at https://calm.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

28 Elo 202154min

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