What Are Investors Smoking? – Ep. 387
The Peter Schiff Show Podcast8 Sep 2018

What Are Investors Smoking? – Ep. 387

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GM Hit New Low for the Year
If you want to look at some of the signals you're getting from the markets, look at the automobile stocks: General Motors and Ford, which are basically the only 2 automobile companies we have left. (Chrysler is now owned by Fiat.) They both hit 52-week lows today and they're both in bear markets. General Motors closed at $33.91 - a new low for the year. The stock was as high as $46.76 in June. The stock is down almost 30% in the last couple of months. It's a bear market.
Ford at a Six-Year Low
The story at Ford is even worse. Ford was up at around $12 a couple of months ago. It is down to $9.27. If you look at its high - it was at $16 in September of 2014. Ford is down to where it was the summer of 2012 - 6 years ago. It's at a 6-year low. If we go any lower we'll be at an . 8-year low.
Two Auto Companies Solidly in Bear Market
So you've got our 2 automobile companies solidly in bear market territory, making new lows. These are vital parts of the economy. There are many industries that feed off these companies, the aftermarket industries. These are the good jobs, the high paying jobs that Trump promised to bring back. Remember he was really campaigning in Detroit and other places where they make cars. These companies are hitting multi-year lows.
Tariffs Aren't Helping Auto Industry
So the tariffs aren't working. The tax cuts aren't working. The auto companies are going down. Remember, stocks are forward looking, so the stocks are basically saying that there is a big slowdown coming in the automobile sector. Profits are not going to be there. Tax cuts are not going to be very valuable if there aren't any profits.
Industry Slowdown in Home Building
Also look at what is happening with the home building companies. All these stocks getting killed - some down over 5% today alone. They are pretty much all in bear market territory. So now the homebuilders are also saying, "The industry is going to slow down."
Autos and Housing Are Not Booming
Those are 2 very important sectors of the economy: housing and autos. If they are on the verge of recession. If the stocks in those sectors are forecasting recession, how is it possible that the U.S. economy is experiencing a "historic boom"? "It's booming like it's never boomed before!" Yet autos and housing are not only not part of the boom, they're actually having a bust. Riddle me that, Batman. How is it that the economy is so strong when these two key sectors are so weak?
Interest Rates and Inflation
Why are these sectors so weak? Well one reason, of course, is rising interest rates. Everybody believes that interest rates are going to keep rising which means more nails in the coffin of the auto sector and the housing sector. And of course, both housing and autos are being hit by inflation because of raw material costs. It's more expensive to build cars - it's even more expensive to build homes.
Tariffs Attacking Our Vendors and Bankers
The tariffs are getting higher. Trump was out today saying he is going to put another $240 billion of tariffs on Chinese products in addition to the $200 billion we already have queued up and yesterday he was talking about going after Japan and we're the ones who have the most to lose by picking all these fights with all the countries that are supplying us the goods we need and loaning us all the money we need. We're basically attacking our vendors and our bankers and somehow think this is a good strategy.
Big Leading Indicators Say Something is Wrong
So you can't have a recession in autos and housing simultaneously and somehow the rest of the U.S. economy is impervious. 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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Fed’s Credibility Is Transitory, Not Inflation – Ep 750

Fed’s Credibility Is Transitory, Not Inflation – Ep 750

* CPI data heavily contradicts Fed’s transitory inflation narrative. * Reagan was more popular during a recession than Biden is during this “booming” economy. * The government has too much money on the line not to lie about inflation. * Media’s bias taints their inflation reporting. * Federal Reserve can print money, but they can’t print stuff. * Biden’s Build Back Better plan would have even Keynes rolling in his grave. * Biden considers releasing US strategic oil reserves to China. * Consumer sentiment plunges. * Gold price surges. * Fed won’t try to fight inflation because it will reveal their weak position. * Fed’s policy: Speak loudly when you have no stick. * Falling dollar will be the next domino to fall. * Record number of Americans tell their employer to take job and shove it. * Bitcoin whales conning institutions and bribing politicians. One-of-a-kind financing program at https://netsuite.com/gold Thanks https://avast.com! 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

13 Nov 20211h 15min

Consumers on the Hook for Rising Producer Prices – Ep 749

Consumers on the Hook for Rising Producer Prices – Ep 749

* Supply shortages exacerbated by consumers reading the inflation writing on the wall. * Gas prices at the pump close to all time record highs in most of the country. * Dollar is being propped up by taper. * The crypto market has flipped the gold market. * Joe Biden looks to replace Jerome Powell with Lael Brainard. * Is Elon Musk sending a message to the government, or is he trying to sneak out of his overpriced Tesla stock? * Government should be financed through consumption, not income. Thanks Raycon!. For a limited time, go to https://buyraycon.com/gold for up to 20% off your entire Raycon order. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. 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

10 Nov 20211h 7min

Gold’s Surprise Rally Shows Sellers Are Exhausted – Ep 748

Gold’s Surprise Rally Shows Sellers Are Exhausted – Ep 748

* Press knows Biden doesn’t have the aptitude to even answer softball questions. * Record high stock market eyes blue skies ahead. * As Peloton bikes become overpriced clothes racks, Peloton stock becomes dirty laundry. * Gold may end up being the pin that pricks the Bitcoin bubble. * The IRS tricked the middle class. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold Thanks Mack Weldon. For 20% off your first order, visit https://mackweldon.com/gold with promo code GOLD 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

6 Nov 20211h 3min

Fed Finally Launches the Taper, Now What? – Ep 747

Fed Finally Launches the Taper, Now What? – Ep 747

* Markets blessed Fed’s decision to begin tapering. * Jerome Powell says economy is healthy, but requires monetary policy of an economy in crisis. * Full employment is subjective and rarely achieved. * Powellnomics: It’s inappropriate to have interest rates above 0% in an economy that’s not at 100% employment. * Fed knows the economy is hanging by a threads, and that thread is 0% interest rates. * It doesn’t matter who the President of the United States is. What matters is who runs the Federal Reserve. * Dollar falling may be investors buying the rumor and selling the news. * No bad news in sight for gold, and no good news in sight for the dollar. * Don’t pick up pennies in front of steam rollers. * Zillow’s moronic house flipping business model caves. * Don’t confuse brains for a bull market or a bubble. * Taper is fully priced into gold and silver market. * Don’t jump onto a moving train; get on it before it leaves the station. Go to https://bambee.com/gold to schedule your FREE HR audit. Get an extra 3 months. https://expressvpn.com/gold 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 Nov 202155min

Shiba Inu Highlights Bitcoin’s Lack of Scarcity – Ep 746

Shiba Inu Highlights Bitcoin’s Lack of Scarcity – Ep 746

* Nasdaq and S&P finish the week strong. * Robinhood closes the week near its all time low. * Newmont leads gold mining stocks lower. * Gold mines don’t lose missed earnings, they postpone them. * Crypto ships will rise and sink on the same tide of fear and greed. * Inflation is driving up labor costs. * Hypocrisy is the one thing all politicians have in common. Thanks https://avast.com! Thanks https://truebill.com/gold. It could save you hundreds a year. 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

30 Okt 202156min

Markets Can’t Ignore Exploding Trade Deficits Forever – Ep 745

Markets Can’t Ignore Exploding Trade Deficits Forever – Ep 745

* US dollar would tank if traders understood implications of economic data. * Trade deficit continues to break records month after month. * Strong economies have trade surpluses; we have a bubble economy. * We’re only consuming and importing because we’re printing a currency the world still values. * Massive trade deficits aren’t a problem until they’re a crisis. * Government pretends rights are privileges so it can tax them. * Moral hazard and rampant fraud will ramp up childcare costs under new Biden plan. One-of-a-kind financing program at https://netsuite.com/gold 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

29 Okt 202144min

Irrational Exuberance on Steroids – Ep 744

Irrational Exuberance on Steroids – Ep 744

* Elon Musk needs a rocket ship to find Tesla’s PE. * Bakkt Holdings rises on crypto partnership with MasterCard. * Jack Dorsey warns of imminent hyperinflation. * Stanley Druckenmiller doesn’t realize the Fed is the problem. * When politicians aim their weapons at the billionaires, they always hit the middle class the hardest. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. Go to https://bambee.com/gold to schedule your FREE HR audit. 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

27 Okt 202159min

Written off for Dead, Gold Comes Back to Life – Ep 743

Written off for Dead, Gold Comes Back to Life – Ep 743

* Netflix and Tesla stocks make all time highs. * Trump SPAC makes a splash. * Investors buying WeWork SPAC are putting lipstick on a pig. * Gold price gains on inflation news, which means bigger gains may be around the corner. * Oil price increases while oil production decreases. * Inflation in 2022 will eclipse inflation in 2021. * Weak economic indicators signal the opposite of a booming economy. * Inflation is the government’s silent partner. * America’s increased spending and reduced production will be paid for with inflation. * Bitcoin ETF flops. * Logan Paul and Peter Schiff is the collab we didn’t know we needed. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks Tru Niagen. Save 10% on your first purchase at https://truniagen.com/peter with code PETER 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

23 Okt 20211h 1min

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