Fed Casts Extras In Its Rate Hike Show

Fed Casts Extras In Its Rate Hike Show


* The Dow just finished its worst month in over 4 years
* A lot has happened in the market since I recorded my last podcast
* When I recorded that podcast, I had anticipated a "Turnaround Tuesday" where the market would gap up, but then sell off by the close
* That is exactly what happened
* Then the Dow had its biggest 3-day rally in history
* Still that record-setting rise was not enough to repair the damage done that was done earlier
* The Dow had its biggest down month in over 4 years
* Still in official correction territory
* Adding woes to the stock market are Fed comments that September rate hikes are not off the table
* This will continue to add pressure on the markets
* If this week's Non-Farm Payroll number is positive, it could be very dangerous for the Dow Jones
* Technically, the market is very vulnerable, and without the Fed's support there is little to stop the correction from progressing into a bear market
* All of the big money is starting to sell stocks because they believe the Fed may raise rates
* The market will keep falling until the Fed cries, "Uncle!"
* Once the Fed comes to the rescue, big money will start buying again
* The Fed is still ignoring negative economic data, such as today's August Dallas Fed Manufacturing Survey which came in at -15.8
* There is probably not going to be much change in the unemployment number, no matter how weak the economy is
* Walmart is now cutting back on hours because they increased wages earlier
* As long as the Fed is continuing to bluff that rate hikes are on the table for September or October, this market will be under a lot of pressure
* If we close below the lows of last Monday, it is going to get ugly really fast
* The Fed doesn't want the market to connect the dots directly from monetary policy to market performance
* That would illustrate how unsustainable its policies really are
* I compared the Fed's tactics to trying to yank the table out from under the tablecloth, rather than the tablecloth out from under the dishes
* The Fed was basing the whole recovery on lifting the asset markets
* As soon as the Fed stops lifting, the recovery goes away
* One of the interesting things today was the reversal in oil prices
* One of the few times oil prices rose, and the stock market didn't
* Over the last 3 three days, we've had better than a $10 increase in the price of oil
* Oil needs to go up quite a bit more before we can say a bottom is in
* An end to rate hike rhetoric will knock the support out from under the dollar and that the strong dollar is undermining global demand for crude oil
* I was in Jackson Hole during The Federal Reserve's Annual Economic Policy Symposium to participate in the American Principles Project Economic Summit, which was a protest against Fed policy
* Concurrent to our conference another organization called, "Fed Up", sponsored by the AFLCIO and Black Lives Matter
* Working class protesters carried signs encouraging the Fed to keep interest rates down and target higher inflation
* How is that going to help these working-class "protestors"?
* These participants probably had very little knowledge of the Fed or monetary policy
* The American Principles Project Economic Summit was denied access to the resort where the Fed Summit met because for security reasons, citing that other group was allowed to meet in that venue
* "Fed Up", however, was allowed to meet in the same venue as the Federal Reserve
* I think "Fed Up" conference was staged. They conveniently provided a backdrop of signs encouraging more of the Fed's existing monetary policy
* The protest I participated in was sharply critical of the Fed's monetary policy, 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(1082)

Tax Loss Selling in Bitcoin Ep. 32

Tax Loss Selling in Bitcoin Ep. 32

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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 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 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 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

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 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 Dec 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 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 Nov 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 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 Nov 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 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 Nov 201417min

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