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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Sheila Heagney Savell, Kofi Asare and 98 others like this

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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.13 hours ago   ·  2
Rick CasaliThank you Peter Schiff for being on fire tonight - you had me el oh elling14 hours ago   ·  2
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.4 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.7 hours ago
Robert DrobnickThe only thing bitcoin is good for is transferring currencies out of countries .5 hours ago
Wiktor CiszewskiThanks for taking time to create all this fantastic content!9 hours ago
Robert BirdsallApple is still going strong.3 hours ago

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Peter Schiff on Fox Business 1/27/2015 Sign up for my free newsletter: www.europac.net/subscribe_free_reports Buy my newest book at www.tinyurl...

Bennett Hunter, Olivia Io and 180 others like this

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Anthony PasqualePeter Schiff is right on target as usual16 hours ago   ·  11
David ClinkNever bet against: a.) The Swiss b.) Goldman Sachs c.) Peter Schiff :-)17 hours ago   ·  15
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.15 hours ago   ·  2
Ryan LiguidPeter is killin' em...12 hours ago   ·  1
George MottelSchiff2015#16 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!16 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.8 hours ago
Jean ValJean1929, just around the corner.10 hours ago
Khaizam Zainudinfinished read real crash coming bankrupt.good information.14 hours ago
Michael T. MaloneyGold $200015 hours ago
Jaime Kinkadeanyone know what it cost to get on a segment like this on a cable news financial news show?16 hours ago
Johnny Rumba3:)16 hours ago
Robert DrobnickThere´s a lot of work down here in Mexico picking weeds and raking leaves.16 hours ago

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