U.S. Stock Market Correction Not Made In China – Ep.104

U.S. Stock Market Correction Not Made In China – Ep.104


* What a week for global stock markets, but in particular, the U.S. stock market, which had its worst week in 4 years
* The Dow Jones down better than 1,000 points - over 10% from its peak puts it in official correction territory
* One-third of the stocks in the S&P 500 are already down 20% from their highs
* The Dow lost more than half of the 1,000 points today - 530 points, which is the 9th biggest point decline ever
* This is on top of the 350 points dropped on Thursday
* Thursday we broke below some key technical levels so Friday's drop was inevitable
* There could be a bigger one looming for Monday
* This is reminiscent of the weekend before Black Monday back in 1987
* We are only about 300 points above the lows from October last year when St. Louis Fed President James Bullard saved the market and sent the Dow up 2,000 points
* This time he is throwing the market an anchor
* He still indicates the Fed is undecided
* What data over the next couple of weeks could be that significant?
* The Fed does not want to admit that they can't raise rates
* When is the Fed going to blink?
* Valuations are extremely high, and the Fed is about to go from supporting the market to leaning against it
* The economy is decelerating
* I think the market is going to surrender all the gains it has made since March of 2009
* None of those gains have been real - they did not come from increased production or a genuine increase in corporate earnings, it was all Fed engineering
* The market has gained no ground since QE was suspended
* If the market goes down on Monday, what is the Fed going to do?
* The Fed needs an excuse not to raise rates
* The drop is not because of China
* The problem in China and in the emerging markets is caused by the perception that U.S. Fed is going to raise rates
* The markets want to blame the market correction on China but that is not why our market had a correction
* Emerging market currencies are taking the brunt of the selling by those who are expecting a Fed rate hike
* The euro is very strong today, and the dollar index is declining
* The euro is going to go on a big move, especially if the Fed caves
* Gold is up $80 in the last 2 weeks
* What happened to the theory that gold will collapse below 1000?
* Two weeks ago hedge funds were for the first time net short gold
* How is that trade working out for them now?
* A lot of people are trapped short the euro and short gold
* Now pro-dollar bets are pressing smaller currencies
* This is the last throes of the dollar bull, based on the rate hikes that aren't going to happen
* At the end of the 6 or 7 year journey, there can't be a rate hike
* If the Fed actually raises rates, they lose credibility because they will have to immediately reverse course
* If they do not raise rates, they can say caution is needed because of another dip in the recession
* This way they don't have to admit that the policy was a failure
* The only economic data that came out today was the August Manufacturing PMI number - expected to improve over last month
* It dropped again to 52.9 - the lowest level since October 2013, and the biggest miss in 2 years
* If the Fed is truly data dependent it would have already admitted that it can't raise rates
* At the end of 2014, I predicted that 2015 would be a much weaker economy than forecasted
* I was right about that
* I thought by now the Fed would have admitted that the economy is too weak for a rate hike
* But the Fed just keeps talking about a potential rate hike as though it were a real possibility
* This is a very dangerous game
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 16

SchiffRadio Podcast Episode 16

Episode 16 Synopsis: * Looking under the 5.8% unemployment number headline * Biggest increase was in food service * Labor force participation rate is low * Employment costs are high * Gold & gold stocks rally * European markets encouraged by Mario Draghi's stimulus talk * If the economy disappoints, U.S. may look toward stimulus, too 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

8 Nov 201430min

SchiffRadio Podcast Episode 15

SchiffRadio Podcast Episode 15

Episode 15 Republican victory a reality only because recovery is a fantasy 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 Nov 201426min

SchiffRadio Podcast Episode 14

SchiffRadio Podcast Episode 14

Episode 14 The U.S Recovery is as Real as Ireland is a Part of the U.K. 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 Nov 201429min

SchiffRadio Podcast Episode 13

SchiffRadio Podcast Episode 13

Episode 13 Synopsis: Treats on Wall Street Equal one Big Trick. Belief that QE worked sparks optimism: * New record high in Dow Jones & S&P * NASDAQ highest since 2000 * Dollar index closed at a 4-year high * Yen at a 6-year low * Gold/Silver prices at a 4-year low * Gold Stocks at a 10-year low or more 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 Nov 201428min

SchiffRadio Podcast Episode 12

SchiffRadio Podcast Episode 12

Episode 12 Synopsis: Greenspan's QE Criticism Too Little Too Late * FOMC declares "substantial improvement" in economy. * Does this narrative reflect the best possible spin or ignorance? * Behind the 3.5% GDP number: * Deflator - 1.3% indicates decrease in inflation. * 4.6% surge in gov't spending * Big drop in trade deficit resulting from drop in crude oil prices adds 1.3% to GDP 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

2 Nov 201434min

SchiffRadio Podcast Episode 11

SchiffRadio Podcast Episode 11

Episode 11 Synopsis: Where is the Apology? Preview of the Michael Brown Grand Jury case does not support liberal media's narrative. * The officer knew that Michael Brown had just robbed a convenience store. * The bullets entered Michael Brown from front as he was approaching the officer. * Blood evidence on Michael Brown indicates he was moving toward the officer. * Wounds in upper arm indicate he did not have his arms in the air. * Michael Brown was shot in his thumb at extremely close range. * A majority of eyewitnesses support the officer's testimony 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

2 Nov 201438min

SchiffRadio Podcast Episode 10

SchiffRadio Podcast Episode 10

Episode 10 Synopsis Hillary's Fractured Economic Theory: * Raising the minimum wage will create jobs. * Businesses don't create jobs; the government creates jobs. * Regan Economics "failed spectacularly". * Clinton's economy was based on "arithmetic", not a bubble. 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

31 Okt 201420min

SchiffRadio Podcast Episode 9

SchiffRadio Podcast Episode 9

Episode 9 Synopsis * Deflation Spin Cycle: Peter debunks recent articles "redefining" deflation. * QE Infinity: Brandeis economics professor predicts the Fed doesn't need an exit strategy. 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

29 Okt 201421min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
rss-borsens-finest
uppgang-och-fall
rss-svart-marknad
svd-ledarredaktionen
rss-dagen-med-di
lastbilspodden
24fragor
rss-inga-dumma-fragor-om-pengar
rss-kort-lang-analyspodden-fran-di
borsmorgon
affarsvarlden
fill-or-kill
avanzapodden
kapitalet-en-podd-om-ekonomi
bathina-en-podcast
svd-tech-brief
rss-en-rik-historia