Yellen Continues to Talk What the Fed Can’t Walk – Ep. 94

Yellen Continues to Talk What the Fed Can’t Walk – Ep. 94


* This podcast comes from my hotel room in Las Vegas, as I am attending Freedom Fest
* Janet Yellen received a standing ovation at the end of her talk, and I can't understand why...
* Headlines from the talk report "Rates to go up by the end of the year"
* Actual quote:"Based on my outlook, I expect that it will be appropriate at some point later to take the first step to raise the Federal Funds Rate, and thus begin normalizing monetary policy."
* "I want to emphasize that the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate the first step."
* In other words, the process will be delayed because whatever happens will be unanticipated or unannounced because the last thing Yellen wants to do is to admit that she can't raise rates.
* We have gone 9 years without a rate hike
* The market is not prepared for a rate hike given the enormity of the debt
* The U.S. owes more money than all the other debtor nations combined
* We can only pretend to be solvent and zero percent interest rates are a big part of that pretense
* We will not be able to service our debt under normalization
* Yellen states that the labor market is continuing to improve
* No, it's not
* Didn't she see Friday's jobs report, based on downward revisions to prior months?
* Didn't she see the plunge in the labor force participation rate to a new low since 1977?
* Didn't she see the all the part-time jobs that have replaced the lost full-time jobs?
* Didn't she see yesterday's weekly jobless claims report that surged to 297,000?
* Yellen previously stated that she would not raise interest rates until the labor market improves, and since then, the labor market has worsened
* Wholesale inventories for May up by .8%
* Year over year, sales are down 3.4%, the biggest decline since the 2008 financial crisis
* Greece is forced to revisit austerity measures as Germany refuses to budge
* Greece realizes they don't want to leave the Eurozone
* The moral hazards are such that Europe can't budge
* I dont'know how the Greek economy can grow, given the enormity of their debt in the hands of a socialist government
* Europe needs to keep pressure on Greece in order to maintain standards for weaker economies
* The Chinese stock market "collapse" is being overstated in the press
* Even though the Chinese market is down 30% in a short period of time the Chinese market is still positive on the calendar year
* The U.S. market is down
* In April of this year, Chinese stocks took off because changes in Chinese government policy, making it possible for investors to own certain stocks for the first time
* It should be no surprise that when a rush of investors tried to buy the new stocks, the price went up
* At some point there is going to be profit-taking, sparking panic selling
* This is normal market behavior
* The market just retraced its steps, leaving gains achieved prior to April
* The fundamentals that drove the market higher earlier this year are still solid, and they're in place
* The dip in the market is a buying opportunity
* The next round of gains will be more sustainable
* The Chinese government exacerbated the volatility, making a classic mistake by chasing the market
* U.S. economic pundits are commenting on the absurdity of the valuations on some of the Chinese stocks
* They are living in a glass house - why are they throwing stones?
* The same can be said about some U.S. stocks with ridiculous valuations
* The Chinese monetary policy is creating issues, but beneath the bubble is a legitimate economy with production growth, savings and investment
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You Know the Bubble’s About to Pop When Jim Cramer Gives Germany Economic Advice – Ep. 36

You Know the Bubble’s About to Pop When Jim Cramer Gives Germany Economic Advice – Ep. 36

You Know the Bubble's About to Pop When Jim Cramer Gives Germany Economic Advice Ep. 36 * Oil and Russia viewed to be at the epicenter of this week's market chaos * Why is the oil price dropping? The market anticipates a drop in demand due to global recession * Winding down of QE triggering market instability * Economic data still pointing to weakness * Russia raised interest rates to 17% * Ruble crisis is a "dress rehearsal" for the dollar crisis * Our currency crisis will be worse because of our debt * Euro and Yen rallying * This morning gold was up, down, ended up * Volatility indicates changing trends * A recession in the U.S. means QE4 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

17 Dec 201424min

Yellen’s Recovery is as real as George ‘s Beach House Ep. 35

Yellen’s Recovery is as real as George ‘s Beach House Ep. 35

Yellen's Recovery is as real as George Costanza's Hamptons Beach House Ep. 35 * Volatile Friday followed by Monday rally trend * The stock market has rallied very high very fast with little technical support. * The gold market had its best week relative to equities. * Only a dozen markets have beaten gold this year. * Rally started with Michigan Consumer Sentiment assisted by Dodd/Frank revisions. * The dollar was mixed at Friday close. * The oil market is indicative of the Fed's movements. * The Fed's history predicts continued to support for bubbles with additional QE, despite reports to the contrary. * QE4 will be bigger than previous QE's and will precipitate higher oil prices. * The pretense that QE is over has fueled the market, but QE4 will trigger the bursting of multiple 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

13 Dec 201430min

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34 * If oil goes down to $35/barrel we will not be able to produce oil for export at that price. * It is no accident that oil prices are dropping as the Fed is ending QE. * What are the implications for the U.S. Economy if the Oil Bubble bursts? * Good jobs in the industry sector will go away. * Oil sector business loans will default * Investors will lose money. * The fallout will be bigger than the dot com bubble. * If oil was a bubble fueled by cheap Fed money, what's next? * If the collapsing oil prices threaten recession, the Fed may launch QE4. * If the Fed does not launch QE4, other bubbles will be affected. 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

12 Dec 201419min

Much Ado About Nothing and Economic-Policy Truthers Ep. 33

Much Ado About Nothing and Economic-Policy Truthers Ep. 33

Much Ado About Nothing and Economic-Policy Truthers Ep. 33 * Catalyst for the rally was the Retail Sales Report * Cars represent the largest part of the gain * Any slight good news is overblown * Bad news is ignored * Economy is not driven by spending * Economy is driven by savings and production * Gold stable and up on the year against the dollar * Those who question the Government's numbers are being called "Truthers" 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

12 Dec 201423min

Tax Loss Selling in Bitcoin Ep. 32

Tax Loss Selling in Bitcoin Ep. 32

Tax Loss Selling in Bitcoin Ep.32 * In 2014 Bitcoin was the worst-performing financial asset * Spending bitcoins triggers a taxable event * Spending or selling at a loss also reflects on your taxes * This holiday season, harvest tax losses while shopping * Write-off could exceed value of gift * You can also buy bitcoins back at a savings from original cost if you wait 30 days * Buy Gold and Silver while harvesting tax loss 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

10 Dec 201420min

Fannie and Freddie Guarantee Bigger Losses

Fannie and Freddie Guarantee Bigger Losses

* U.S. Taxpayers will be forced to guarantee mortgages with 3% down * Qualifiers are low-income or have not owned a home for 3 years * Government is spinning this as "prudent" * Buyers have very little skin in the game * If real estate prices plummet, walking away is an easy choice 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

10 Dec 201412min

Does Market Volatility Portend a Change of Trend? Ep. 30

Does Market Volatility Portend a Change of Trend? Ep. 30

* Stock market roller coaster ride this week * Chinese market plummets * Forex markets: Yen rallies after 7-year low * The Swiss may discourage the EU against QE * Unwarranted U.S.optimism as negative data is ignored * Gold and Silver strong despite bad press * Gold outperforming the Russel 2000 * Deficit in Manufactured Goods hit all-time high * China reports record trade surplus 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

10 Dec 201420min

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

* What is the goal of the "Inflation Mandate? * What is the exact number of the mandate? * If the real mandate is "less than 2%" they're already there * The European economy is expecting another QE, but I don't expect it. * How they plan QE if they don't know what they are going to buy? * Draghi cites success of U.S. QE, but the Fed has not shrunk its balance sheet. * They discussed buying all assets except gold because this would highlight failure of QE 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 Dec 201425min

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