Investors Whistle past the Mother of All Graveyards – Ep. 313

Investors Whistle past the Mother of All Graveyards – Ep. 313

2017 Optimism
This is my final podcast for 2017. I just watched the U.S. Stock Market ring the closing bell for the final time in 2017. Everybody is excited; everybody is optimistic. I spent most of the day watching the financial coverage, mostly on CNBC to see the attitude and the types of coverage the market has received.
The Dow Gained 5,000 Points in a Single Year
Of course this is a record year in the stock market; an all-time record high in the Dow. I think this is the first year that the Dow has ever gained 5,000 points in a single year, in fact the Dow was up every month of 2017 - that's never happened before in history. I think we've gone 14 consecutive months without a decline. Not only were we up every month, but 2017 represented the year ever of the lowest stock market volatility. So as the market was going up, it barely ever went down. So no one was nervous.
Unprecedented Rise Occurs at the End
To me, this type of unprecedented rise does not happen at the beginning of something. It happens at the end. Anybody who believes that 2018 is going to be more of the same is in for a rude awakening. I think the final minutes of the trading day set the tone for next year. Even though the markets were up every month of this year, they were not up in the final week. The Dow and the S&P were both down this week. The entire decline for the week happened today, actually in the last 10 or 15 minutes. The Dow was down about 30 going into the last 15 minutes and it ended up -118. The Dow was never really positive today, same with the S&P.
Last Year Optimism was all about the Dollar
The NASDAQ was the biggest gainer of the year with well over a 30% gain. The Dow up about 25%, the S&P up about 19%, so certainly a big year, but to me, this is the end of this big bull market. The action in the final minutes may be an indication of what is to come. I have not seen this much universal optimism on an asset since last year at this time with respect to the U.S. dollar. Everybody was bullish on the dollar. In fact, the big short was the Chinese Yuan. All these big hedge funds were shorting the yuan - it's going to collapse. What was I saying a year ago? I said these trades were going to blow up. anybody shorting the yuan was going to lose money.
Dollar Index Down Almost 10% this Year
What has happened to the dollar this year? The dollar index is down almost 10% for the year. This is the first annual decline for the dollar since 2012, so it is the first drop in 5 years, but it is the biggest drop in 13 years. The last time the dollar was down more than this was 2003. What happened in 2003? The dollar fell in 2003-4-5-6-7 and 2008. It didn't stop falling until August of 2008 and the only reason it stopped falling is because it was saved by the financial crisis.

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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 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 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 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 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 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 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 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 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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