Republican Replacement Won’t Fix ObamaCare – Ep. 262

Republican Replacement Won’t Fix ObamaCare – Ep. 262

Summary:
Once again the solution doesn't work. As with the Democrats' solution, the penalties are too low. In both the House and the Senate, trying to force people to buy insurance won't work because the penalty for not buying insurance is not stiff enough. The reason they aren't doing that is, politically, it is a losing proposition. This is why the Republicans never should have touched this issue. If they did not have the guts for outright repeal, they should have never done anything. They should have left it alone and the Democrats would have owned this disaster. The best thing the Republicans can do, politically, is do nothing. In this way any collapse cannot be attributed to ambiguity in the market.
Downward Pressures on the Dollar

* Very big day in the market today; the most significant being the breakdown in both the NASDAQ composite and the U.S dollar.
* The dollar was down sharply and broadly today, led lower by a rally in the euro
* The catalyst for the euro rise was statements by Mario Draghi early in the morning where he commented that downward pressures on inflation were transitory
* A somewhat hawkish stance on inflation and the markets took that to mean that QE will come to an end sooner rather than later
* But I think the markets are looking for any reason to trade the dollar lower
* I have been talking about that on this podcast, that the dollar has been looking weak
* It broke down again today, the dollar index down just over 1 full percentage point on the day
* The dollar trading at its lowest level in 8 months
* I think this was the lowest closing level in about 9 months
* The euro is trading at a 113 handle

NASDAQ Woes

* At the same time the dollar was breaking down, so were tech stocks, the FANG stocks were particularly weak
* The NASDAQ composite down just over 100 points on the day
* That's a pretty big move; a 1.6% decline
* The Dow was only down about 100 points, just under a half percent
* So the NASDAQ experienced about triple the decline
* I talked about that on this podcast a couple of episodes ago when we had that one really big reversal day in the NASDAQ stocks
* When the NASDAQ stocks made an all-time record high and then closed negative
* We had that kind of flash crash coming into the final hour of trading
* To me, there was some big money that decided to get out of those stocks
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SchiffRadio Podcast Episode 24

SchiffRadio Podcast Episode 24

Big News out of the Central Banks * U.S. FOMC * Primary concern - inflation is too low * no policy to "correct" the problem * Preparing markets for additional stimulus * Japanese Central Bank Doublespeak * Japanese sales tax hike postponed * Continued calls for more inflation * Why is sales tax is different than inflation? * Euro Decline * Mandating "stability" by increasing inflation? * Chinese Central Bank * Cut interest rate to 5.6% * Money flows to the dollar as a hedge because the market believes the Fed * Gold has not dropped much against the dollar and has risen against other currencies Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

22 Nov 201431min

SchiffRadio Podcast Episode 23

SchiffRadio Podcast Episode 23

Episode 23: Going to Extreme to Prove a Point: Two articles about Peter Schiff: * MarketWatch - writer refused to address corrections before going to print except for my official title - The point of my forecasts is to help people avoid problems ahead of time - I did not call for a stock market crash; I predicted QE4 - The Fed can prevent a Dollar Crisis - I said hyperinflation is unlikely, but a possibility * New Republic - Writer quotes selectively from a Reason article to prove his own spin - Points to the CPI to refute real inflation - The price of a Big Mac mirrored the CPI until 2002 - Now price of Big Mac rises 2x as fast as CPI - This illustrates how the government measures inflation Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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 Nov 201427min

SchiffRadio Podcast Episode 22

SchiffRadio Podcast Episode 22

Episode 22: Lessons from the Michael Brown Case: * Don't rob a convenience store. * Don't rob a convenience store while high. * Don't be conspicuous after robbing a convenience store while high. * If a policeman then stops you, obey the policeman. * Do not try to take the policeman's gun away from him. * But if you get shot in the hand going for the gun and run away, do not charge the policeman when he says, "freeze!" * The political narrative hides the real problem: unhealthy family life. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

20 Nov 201421min

SchiffRadio Podcast Episode 21

SchiffRadio Podcast Episode 21

Episode 21: BoJ Seems to relieve Consumers' Struggle With Rising Prices by Creating More Inflation * Investors & Economists shocked to learn that Japan is officially in recession * Instead of a 2.1 rebound, there were back to back declines - a huge miss. * Economists cry "More Stimulus!" * Abe admits rising prices hurt the economy, contrary to inflation "Goal" * The theory that rising prices stimulate the economy is proving wrong in Japan, Russia and the U.S. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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

19 Nov 201426min

SchiffRadio Podcast Episode 20

SchiffRadio Podcast Episode 20

Episode 20: Explosive Daily Upside Reversal in Gold Portends Potential Bottom * Weekly jobless claims higher than expected * Fewer people in the workforce * Job openings declining * Consumer sentiment survey at 7-year high? * false confidence in the economy due to oil prices * QE4 will be the mother of all QE * Gold and silver market reversal on Friday * Silver stocks up $4% * Gold stocks were up 6% Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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 Nov 201420min

SchiffRadio Podcast Episode 19

SchiffRadio Podcast Episode 19

Episode 19: Low-Paying Jobs And Student Debt Undermining Marriage * There are more single Americans than ever * Job quality and debt are disincentive to marriage * Government policy promotes generations of single mothers * Two out of every five mothers are single * If the economy is getting better, why is this happening? Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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 Nov 201414min

SchiffRadio Podcast Episode 18

SchiffRadio Podcast Episode 18

Episode 18 Synopsis * Obamacare architect Jonathan Gruber admits fraud promoting Obamacare: * "They proposed it and that passed, because the American people are too stupid to understand the difference." * Administration's argument to Supreme Court about constitutionality of Exchanges claims "typo" * The average American may not be able to make decisions for others, but they know what is best for themselves Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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 Nov 201420min

SchiffRadio Podcast Episode 17

SchiffRadio Podcast Episode 17

Episode 17 Synopsis * Japanese yen fell to 7-year low * A result of Abenomics * Speculation that planned increase of sales will be delayed * price moving with strength of dollar * Chinese Yuan up vs Yen and euro * Next few months may expose Fed's false narrativ Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * 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 Nov 201410min

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