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Weak Earnings and Bad Economic Data Pummel Stocks – Ep. 48

January 27th, 2015|0 Comments

Wall Street spared blizzard only to be buried in bad earnings and bad economic news
December durable goods down 3.4%; expected to come in at +.7
Consumer confidence up to 102.9; contrarian indicator
Last time consumers were this confident was in the middle of 2007
Number will collapse when reality has a violent confrontation with perception
P&G earnings down 31%
Caterpillar warned
Microsoft stock down 10% today
UPS announced they overestimated holiday sales
Businesses geared up for a recovery in late 2013 that was not going to happen
Layoffs coming in 2015
This may give the Fed an excuse to delay rate increase
How can a strong dollar be good for America but […]




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Fredrik Nygaard, Joe Giglio and 23 others like this

Drew Chase"And so, in order to say 'well, everybody's going to use [Bitcoin]', well then, [...] everybody's got to be in Bitcoin. Everybody's got to get paid in Bitcoin. All the salaries, all the rents are in Bitcoin." Correct. Bitcoin would only ever reach a market cap akin to Visa / Mastercard and beyond if all these things happened. By owning Bitcoin, you're simply betting on at least a 1% chance of this happening. "The governments give up their currencies." It's not that a government gives up its currency. It's that all its users give up its currency, at which point the government dies because fiat currency is the lifeblood of any government. It's happened plenty of times, and Peter would know. But I disagree with Peter on one other thing: That Visa / Mastercard get their market cap from the value of US dollars. No, because Visa / Mastercard transact in hundreds of currencies around the world, many of them never dealing with US dollars. Visa / Mastercard get their market cap from their payment network, and from the fact that their payment network is so widely used around the world. The more widely used a payment network is, the more valuable the underlying currency of the network will be. So in other words, Peter has it backwards. Visa / Mastercard doesn't derive its value from fiat currencies. Fiat currencies derive some of their value from the Visa / Mastercard payment network.7 hours ago   ·  2
Rick CasaliThank you Peter Schiff for being on fire tonight - you had me el oh elling8 hours ago   ·  1
Ilona Magdalena MuszyńskaPhony statistics make people "economic schizophrenics". On the one hand they see an optimistic data but on the other hand a reality around their is quite different. Where is the truth ? Just we need to look around and use your own intelligence and experience. Statistics is often uses by politicians as a tool to prove how good is a government policy.1 hour ago
Wiktor CiszewskiThanks for taking time to create all this fantastic content!3 hours ago

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Anthony PasqualePeter Schiff is right on target as usual10 hours ago   ·  8
David ClinkNever bet against: a.) The Swiss b.) Goldman Sachs c.) Peter Schiff :-)10 hours ago   ·  14
Joey Poirier13 million people dropped out of labor market in the past six years. What job creation? Even the IMF downplayed the numbers to 5 million new jobs at best. The quality of the jobs are a joke.8 hours ago   ·  2
Ryan LiguidPeter is killin' em...6 hours ago   ·  1
George MottelSchiff2015#10 hours ago   ·  1
Sivaram IyerOnly a handful of people had been very consistent about the economy, Peter Schiff included, and I love his commentary for that consistency!10 hours ago   ·  1
Ilona Magdalena MuszyńskaQE is a makeup which improve statistics in a short time. Later we can expect economic turbulence with double force. Fasten your seatbelt, the storm is coming.2 hours ago
Jean ValJean1929, just around the corner.4 hours ago
Khaizam Zainudinfinished read real crash coming bankrupt.good information.8 hours ago
Michael T. MaloneyGold $20008 hours ago
Jaime Kinkadeanyone know what it cost to get on a segment like this on a cable news financial news show?10 hours ago
Johnny Rumba3:)10 hours ago
Robert DrobnickThere´s a lot of work down here in Mexico picking weeds and raking leaves.10 hours ago

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Bob Christensen, MaryAnn Robbin Pumilia and 23 others like this

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Butch BerryThat woman seems like she likes you12 hours ago   ·  3
Nathan YoungblutTell it like it is Schiff!!13 hours ago   ·  3
Donald P SchriverBeen reading "The Death of Money" ..... Schiff is right....11 hours ago   ·  2
Michael T. MaloneyChina is going to unpeg the Yuan from the Dollar9 hours ago   ·  1
Abraham SosaJuan Almodovar ya es tiempo de vender casas. Ponte trucha.10 hours ago   ·  1
Bart HubenakI think Schiff has put some silver coins up that woman's ass before, I digress. Is another recession coming? There has to be, all that QE, the high has to come down. If they do QE4 oil and gold will rise & get ready for WW3, if they don't good news for those who have cash, every security will be a steal because of massive deflation (best scenario).10 hours ago   ·  1
Oscar JowersHe sure is not too keen on the coming economy in this country. It is down right scairy to me.12 hours ago   ·  2
Perry BeeYep. Called this before the Bush Jr. Legacy.5 hours ago
Juan AlmodovarVendo y luego como me mantengo?? Abraham Sosa10 hours ago
Joseph HuntingtonInvestors like pain. So what's the problem?11 hours ago
Scott GuzmanMy 401K is offering a move over to the Tocqueville Gold Fund. I know you can't give advice or direct anyone but in these times, is that a viable option?14 hours ago
Kevin Donoghuehurt metals inversters so far.12 hours ago

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