Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.  He follows up his daily two-hour radio show with podcasts focusing on weekly economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets.  As entertaining as he is informative, Peter packs decades of brilliant insight into every news item.  Join the thousands of fans who have benefited from Peter’s commitment to getting the real story out every week.


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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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Anthony Pasquale, Rick Karschnia and 115 others like this

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Rick CasaliThank you Peter Schiff for being on fire tonight - you had me el oh elling1 day ago   ·  3
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.1 day ago   ·  2
Anthony PasqualeAre we on the verge of a depression? You heard me right, depression not recession!!!!!5 hours ago
Julian PetkovHahaha! "Nobody is going to outstupid us!" Brilliant! xD :D12 hours ago
Gottabe KiddingmePeter, I love how you say the $75 million raised by coinbase in its last funding round was by "VC's in the Bitcoin world", Ignoring the fact that the New York Stock Exchange, and the ex CEO of Citigroup invested money as part of the funding! Really, you think the NYSE is a "Bitcoin world VC".. Congratulations you have gone from giving your listeners misinformation regarding Bitcoin, to outright lying to them..14 hours ago
Stephen MolyneuxFunniest one I've heard yet. Peter's never talked about NoFiatCoin though which ticks all his boxes for a cryptocurrency. It's not mined and its backed by gold. If you're off on holiday you're not going to file off bits off your ounce bar to pay for an ice cream. I'd like to hear his thoughts on Gold backed crypto's like XNF.18 hours ago
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.21 hours ago
Robert DrobnickThe only thing bitcoin is good for is transferring currencies out of countries .19 hours ago
Wiktor CiszewskiThanks for taking time to create all this fantastic content!24 hours ago
Robert BirdsallApple is still going strong.17 hours ago

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