Upon What Data Does the Fed Depend? – Ep. 100

Upon What Data Does the Fed Depend? – Ep. 100


* This is my 100th Podcast
* This new format allows for timely analysis when is is most convenient for me and for you, the listener
* Please share these podcasts, to get this valuable information out
* My podcasts can be accessed on YouTube, on iTunes and other podcast sites and right here on my website
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* Check out my post on Facebook about the CEO who established a $70,000 minimum salary for all his workers, and the latest news is that his policy is about to take the company down
* Today a bombshell was dropped on the labor markets on Friday in the form of Employment Cost Index
* Measures the cost to employers: wages and benefits
* The expected increase was .6, but the actual number came in at just .2 for the quarter
* This the weakest number since 1982, since they began keeping records
* Janet Yellen has been saying that improvements in the labor market must precede a rate hike
* This is understood to mean wages, labor participation rate and full time vs part time jobs
* We're 0 for three, right now - all three are falling
* As soon as this number came out, they dollar sold hard
* But then, the dollar clawed its way back, and gold was down again - gold stocks got crushed - Why?
* Jon Hilsenrath, the chief economics correspondent for The Wall Street Journal, came out with an article, speaking for the Fed, stating that the Fed does not need wage growth to hike rates
* Really? The Fed is going out of its way to preserve the pretense that it can actually raise rates
* They are seeking the psychological effect of rate hikes without the real world damage of actual rate hikes
* If the Fed still believes it won't raise rates unless the labor market improves and they are taking wage hikes off the table, then what are they waiting for?
* The other two remaining criteria are still down
* Janet Yellen still says she's data dependent and all the data that she is depending on is negative
* The stock market looks very toppy - it looks like it will roll over and when it does the Fed will bring in the cavalry in the form of stimulus
* The Fed built the recovery on a stock market bubble and a real estate bubble
* Ben Bernanke's goal for 7 years was to create a "wealth effect" on assets that are now at risk - they are not going to let them collapse
* All of the data would argue for no rate hike in September
* Janet Yellen is implying, by talking about rate hikes, that she believes that the economy is going to improve, when all signs indicate the opposite
* Therefore traders are ignoring bad economic data because they trust that Janet Yellen believes the economy will improve soon
* Don't pay any attention to the man behind the curtain, because Janet Yellen says the bad news is not real
* We can all see the negative data, but no one wants to acknowledge it because Janet Yellen is not recognizing it publicly
* They buy the dollar, they sell gold and there is a dichotomy between those who don't own gold and have no ability to deliver it and are selling gold to those who don't actually want it - they are gambling on the price of gold
* The amount of gold being gambled is greater than ever before
* Sales for those who want to hold gold are skyrocketing - the mints are running out of supply
* We are running out of some of our silver
* Schiff Gold
* Our customers who buy gold and silver are not offering to sell - they are buying more
* They are reacting to lower prices
* On the other side of the coin, clients are reacting negatively to the high dollar weighing on the relative value of foreign stocks
Our Sponsors: * 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

Avsnitt(1081)

SchiffRadio Podcast Episode 8

SchiffRadio Podcast Episode 8

This week, we're releasing a series of podcasts to get current information out on a more basis. We appreciate your feedback on this new format. Episode 8 Segment 1: * Contrary to GDP number, consumers are still struggling. Our Sponsors: * 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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SchiffRadio Podcast Episode 7

SchiffRadio Podcast Episode 7

Episode 7 Synopsis * More deflation/inflation propaganda * The Fed prefers inflation because at least they know how to fight it * Money printing in Venezuela* Bloomberg warns Yellen not to follow Sweden's example * Obamacare premiums going up after the election* Mark Cuban's plan to limit student loans * Wells Fargo employee demands $10,000 raise for himself and other employees * British Minister under fire for suggesting intellectually disabled should be able to work for less than minimum wage * News about QE4 * Yellen ironically speaks up on wealth inequality Our Sponsors: * 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 Okt 20142h 12min

SchiffRadio Podcast Episode 6

SchiffRadio Podcast Episode 6

Episode 6 Synopsis * Big downside moves in global equity markets * U.S. stock market trends * Gold moves upward * U.S. Dollar weakness * A detailed analysis of this month's FOMC minutes * Share buybacks and other artificial boots to the stock market * More Obamacare blowbacks against the job market and employee healthcare * The straight story on misleading reports on the economy * How California labor law put a vineyard out of business * Interview with Paypal co-founder Peter Thiel in his new book Our Sponsors: * 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 Okt 20142h 20min

SchiffRadio Podcast Episode 5

SchiffRadio Podcast Episode 5

Episode 5 Synopsis: * Debunking Ned Davis' predictions on gold * Chicago Fed president Charles Evans hints that the Fed can't raise interest rates * Alan Greenspan gives Fed a pass on CNBC * Brokerage houses hit by FINRA arbritation results * Eurozone low inflation 'scare' * Collapse in Fannie and Freddie stock * The numbers behind the weekly economic data Our Sponsors: * 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 Okt 20142h 24min

SchiffRadio Podcast Episode 4

SchiffRadio Podcast Episode 4

Episode 4 Synopsis * Launch of the iPhone 6 * Surprising employment arbitration results * Housing market rolls over * Hotel minimum wage * World Bank head claims that QE works Our Sponsors: * 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 Sep 20142h 23min

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK Our Sponsors: * 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 Sep 20142h 4min

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story Our Sponsors: * 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 Sep 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. Our Sponsors: * 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

9 Sep 20141h 52min

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