Peter’s weekly commentary on financial data, national and global news and how to survive the coming financial crisis.
Expected Rate Hike
Today the Federal Reserve did exactly what everybody expected them to do, they once again raised interest rates by just one quarter of one percent. This is the third rate hike of the year; this is the fourth rate hike since Donald Trump was elected President and the fifth time the Fed has […]
I’m going to devote today’s podcast to bitcoin; I might as well just talk about bitcoin because that’s all anybody else is talking about. On CNBC that’s pretty much all they are talking about; they said it is “BitCoin Week”. It sure sounds like it. I think they should just rename the network: Crypto News […]
A Nonfarm Payroll Beat
Today the labor department released the November jobs report – Nonfarm Payroll – of course Wall Street always highly anticipates this number; all the politicians, Donald Trump was ready to tweet as soon as the data was released. The expectation was for 190,000 jobs and we beat, with 228,000 jobs.
An Even Bigger […]
Trade Deficit Moving Higher as Economy Slows Down
Yesterday we got the release of the October monthly Trade Deficit and we got a trade deficit of $48.7 billion dollars. That was a little bit North of the $47.4 billion expected in the consensus forecast. In fact, the prior month, which was $43.5 billion was revised upwards to $44.9 […]
Market Rallies on News of Passing Tax Cuts Act
Late Friday night, or I guess early Saturday morning, the Senate passed its version of the Tax Cuts and Jobs Act. Last week the market, as it became more apparent that the Senate was in fact going to pass the bill, the market was rallying, and continued […]
Fed Fears Inflation Is Not High Enough
Fed statements drove the markets today; particularly the foreign exchange markets and the precious metals markets. First we got a quote from Janet Yellen early this morning in which she was talking about inflation. Her concern is that inflation isn’t high enough. Here’s and exact quote from Janet Yellen:
Financial Conditions Are Loosest Since 1994
I was reading an article today that the Chicago Fed released their National Financial Conditions Index (NFCI) and according to their research, financial conditions in the United States are the loosest since January of 1994. Of course, that was early on in the dot com bubble, before it […]
The U.S. dollar and the stock market continued to be a little bit under pressure this week as anxieties are rising over the fate of the tax cuts with so many investors are putting so much expectation into the proposed tax cuts.
Tax Cuts Do Not Reflect Smaller Government
I have gone over many times on […]
No Real Tax Relief
Yesterday the Senate released their version of the Tax Cut and Jobs Act, and it is not that different from the House version. There are some differences, some of which I will get into, but the main problem is not the difference, but the similarity. The plans don’t deliver any kind of […]