Is the Powell Put in Play? Ep. 330
The Peter Schiff Show Podcast15 Feb 2018

Is the Powell Put in Play? Ep. 330

St. Valentine's Day Rout
I wouldn't really call what happened in the bond market and the U.S. dollar market as a St. Valentine's Day massacre, maybe it was a slaughter; even slaughter was too harsh a word. It was a rout. But this is nothing compared to what is going to come. The daughter is going to get slaughtered a lot more and the bond market is going to get slaughtered a lot more in the days ahead. Maybe not exactly tomorrow, but there will be days ahead that will be much worse than today. This is the tip of a huge iceberg.
Doing the Impossible
Before I get into the tail of the tape today, and all the horrific economic numbers that came out today, I want to take a step back and talk about President Trump's budget, which was released on Monday. Basically, the Republicans succeeded in doing something that you would have thought was impossible. They are making the Democrats look like the fiscally responsible party.
A Farce
First of all, there are some cuts in this budget that are never going to happen. There are a lot of assumptions that are saving money, like they assume a total repeal and replace of ObamaCare, which isn't going to happen. In fact, if it didn't happen when Republicans controlled Congress, how is it going to happen when the Democrats control Congress in 2019? So this is all farcical.
Assumptions...
But one of the biggest farces of the entire budget is the underlying economic assumptions. They're assuming that the very low unemployment rate gets even lower. But, the most farcical of all, is that they assume that the economy grows uninterrupted at an average of 3% for the next 10 years! This so-called expansion is already 9 years old. That makes it the second or third longest expansion in history, and if it continues this year, I think it will be the largest expansion in history. If it continued for another 10 years it would be almost twice as long as the next largest economic expansion in history. What are the odds that that is going to happen? But even if that happens, even if we get 10 years of 3% economic growth (we probably won't even get 1) but let's assume we get 10, even with that, the budget does not balance.
Not Even Pretending the Budget will Balance
This is the first time the Republicans are presenting a budget that, even in 10 years, does not balance. Now, think about this: When they were presenting budgets that had a pretense of balancing in 10 years, and they were way off the mark, can you imagine how much further off they will be now when they are not even pretending the budget is going to balance?
Trillion Dollar Deficits and no QE
In the first couple of years they are forecasting trillion dollar deficits. As I said on the podcast before, the last time we had trillion dollar deficits, the Fed was doing a trillion dollars a year in QE. Right now, the Fed is still posturing that it is not going to do any QE. In fact, it is posturing that it is going to do QT - it is going to shrink its balance sheet.
Big Political Problem for the Republicans
But here is going to be the big political problem: Since the Democrats are now the fiscally responsible party, they will be able to hang these deficits around the necks of the Republican candidates like an Albatross. I know a lot of people are thinking, "Wait a minute, Peter! Obama doubled the deficit & the national debt - there are all kinds of deficits under Obama, so how can the Democrats say that the Republicans are the big spenders and they are the fiscal Conservatives?
Inevitable Keynesian Logic
It is very easy. It is basic Keynes. They are going to say is when Obama ran deficits, they were necessary to get us out of the recession that Bush caused by cutting taxes on the rich, and the corporations. So they were a necessary economic stimulus to get out of the ditch that Bush drove us into. After all, Clinton, a Democrat, Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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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Any News Is Bad News for Stocks – Ep 838

Any News Is Bad News for Stocks – Ep 838

· Inflation’s day of reckoning can’t be postponed much longer. · Markets show risk of a Black Tuesday. · More Bitcoin sellers above $20k than buyers below it. · Gold bucking the downtrend in stocks. · Higher unemployment data surprises markets. · Putin understands the global inflation problem is the fault of the Fed and ECB. · Biden gives dishonest and divisive speech in Philadelphia. Get an extra 3 months. https://expressvpn.com/gold. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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 Sep 202258min

Fed Can’t Solve an Inflation Problem It Doesn’t Understand – Ep 837

Fed Can’t Solve an Inflation Problem It Doesn’t Understand – Ep 837

· Consumers have misplaced confidence. · Job hirings shrink as job openings grow. · Jeremy Siegel, Becky Quick, and Joe Biden compete for most ridiculous inflation comment. · Los Angeles liberals’ virtue signaling reaches new level of idiocy. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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 Aug 202242min

Powell Promises Pain, Markets Deliver – Ep 836

Powell Promises Pain, Markets Deliver – Ep 836

· Jerome Powell no longer believes the economy will have a soft landing. · Joe Biden is creating severe moral hazards with student loan forgiveness. · Most unsold new homes on the market since aftermath of financial crisis. · Service sector is at its weakest since the depths of covid lockdowns. · More consumers are relying on savings and debt. · A Black Monday is possible. · Bond market investors are clueless to the reality of inflation. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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 Aug 20221h 3min

Markets Push Back the Powell Pivot – Ep 835

Markets Push Back the Powell Pivot – Ep 835

· 4-week winning streak for S&P comes to an end. · Investors chasing momentum. · Not-as-weak is the new strong. · Mortgage applications at their lowest since aftermath of dot com bubble. Thanks Raycon! For a limited time, go to https://buyraycon.com/gold for up to 15% off your entire Raycon order. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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 Aug 202257min

Government Can’t Do Anything Right – Ep 834

Government Can’t Do Anything Right – Ep 834

· NASDAQ loses steam. · Rising gold and silver propels mining stocks. · Food prices increased faster than any month since 1979. · Consumer sentiment among Democrats tumbled to a two-year low. · The Jones Act hurts everyone except the owners of certain ships. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

14 Aug 202252min

Biden Taunts Public With Inflation Victory Dance – Ep 833

Biden Taunts Public With Inflation Victory Dance – Ep 833

· Wall Street parties on CPI data release. · Minimum wage is bad economics. · Democrats prepare to shakedown the middle class while protecting the billionaires and millionaires. Get an extra 3 months. https://expressvpn.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

11 Aug 202244min

The Truth Behind the Strong Job Market Hype – Ep 832

The Truth Behind the Strong Job Market Hype – Ep 832

· Jobs report evidences a weak, not strong, economy. · Putin delivered price cuts, not price hikes. · Going into debt is not a sign of prosperity. · More people jobless than ever before. · Gold market shows strength. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

7 Aug 20221h

Damn the Recession, Rate Hikes Ahead – Ep 831

Damn the Recession, Rate Hikes Ahead – Ep 831

· Treasury yields surge. · Fed forgets about inflation averaging. · Households take on all time record debt. · Nominal wages are going up, but real wages are collapsing. · China can do more damage to our economy without harming Nancy Pelosi. · Buy gold before the Chinese beat you to it. Go to https://bambee.com/gold to schedule your FREE HR audit. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

3 Aug 202240min

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