The Peter Schiff Show Podcast

Remembering Irwin Schiff Today would have been my father, Irwin Schiff's 90th birthday. If you're not familiar with my father's story, and I'm sure most of the people who listen to this podcast are familiar with my father but if you're not go to schiffbooks.com and pick up a copy of "The Federal Mafia," which was one of only 2 books banned by the Federal Government.  We have a lot of books, "The K...

Dow Down Over 250 Points Today the Dow Jones was down just over 250 points; we're back below 25,000. I think we were down better than 300 on the lows of the day, but we went out pretty low.  The dollar was actually quite strong today; the dollar index had one of its better days of the year - +.61. We're back at 89.71. We had gotten back below 89, with an 88 handle.  Gold had a bad day today after...

St. Valentine's Day Rout I wouldn't really call what happened in the bond market and the U.S. dollar market as a St. Valentine's Day massacre, maybe it was a slaughter; even slaughter was too harsh a word.  It was a rout.  But this is nothing compared to what is going to come. The daughter is going to get slaughtered a lot more and the bond market is going to get slaughtered a lot more in the days...

A Change of Trend Another volatile day of trading ended with the Dow gaining a little over 300 points - 330 points to be exact.  The NASDAQ composite was up just shy of 100 points - 97.33 - and the S&P gained 38.5 points.  But about 2 hours before the close, the Dow was down over 500.  And then, in about 20 minutes, it rallied from down 500 to positive, and then at the close it had that 300-po...

Orlando Money Show: 20 Trillion and Beyond I wasn't intending to do a podcast today;  I'm in Orlando at the Money Show , I'm on a stock market panel.  It's going to be fun: Louis Navellier ,  Mark Skousen , David Callaway  and  Chris Gaffney.   My big talk tomorrow should be very interesting. The title is  20 Trillion and Beyond: What the Coming Debt Explosion Will Mean to Your Portfolio. Dow Jone...

Volatility The volatility is really continuing, in fact, today at one point this morning the Dow was up close to 400 points; ended up closing negative.  It wasn't a big drop; about 20 points, but I think that's the biggest reversal of a gain to a loss in a little over 2 years. The broader market did worse.  The S&P percentage-wise dropped about 13.5 points; the NASDAQ was down about 64 points....

Stock Market Decline Predicted Last Friday I have to warn you up front that I seem to have come down with something last night after the game, and I am having trouble talking today.  I normally would not record, but I have to because on Friday's podcast I predicted the decline that we saw today. I Told You So Of course, we did not have a Black Monday like 1987; it wasn't a 20% decline. It was the...

666 Point Drop Today the Dow finished off its worse week in 2 years with a 666 point drop.  That is the third largest point drop in the history of the Dow.  The last big drop that was larger happened during the 2008 financial crisis.  Percentage-wise, though the 666-point drop today is only 2.5% so it's really not that big, as a historic decline. 3% Drop from All-Time Record High It's large in a s...

Janet Yellen Got Out of Dodge As expected, earlier today, the Federal Reserve decided not to raise interest rates; they left them unchanged.  The next rate hike is likely to come when Powell takes the reins at the Fed.  Janet Yellen got out of Dodge! This is the second Fed chairman to be able to pull this off. Bernanke inherited a disaster, and he got out of Dodge, and so did Janet Yellen. Greensp...

A Rare Down Day The U.S. stock market finally had a rare down day today.  The Dow Jones was down almost 180 points.  We did have a little bit of a rally off the lows. NASDAQ closed down 39 points.  But still, it's rare to see the U.S. stock market going down.  Supposedly, the catalyst for the sell-off today was the increase in long-term interest rates.  Long-term interest rates have been rising st...

Alice in Wonderland I spent a lot of time today watching CNBC's coverage of the World Economic Forum in Davos.  I feel like I'm in the Twilight Zone, or Alice in Wonderland or something like that. Everybody is so optimistic.  At least all the Americans who are interviewed.  I put up on my Facebook an analyst from Morgan Stanley Asset Management.  She's unquestionably bullish on every front. Everyt...

Dollar Getting Hammered Gold and oil are breaking out, the dollar is breaking down, bonds continue to break down, and no one cares! Nobody is worried.  The Dow was up today, although it finished up closer to the lows it was up a lot more earlier in the day although the dollar was getting hammered before the stock market opened and they still bid it up, but the S&P, the NASDAQ and the Russel 20...

The Government is Back in Business The government is officially re-opened!  Apparently, the government shut down, maybe it was on Friday.  Earlier today Congress voted to re-open it! The good news that the government is back in business sent the stock market to record highs.  The Dow, the NASDAQ, the S&P all rallied on the good news. When the Government Shuts Down, it gets Bigger Of course, th...

January 19, 2018 Traders Still Ignoring Ominous Warning Signs We closed the week with more gains on Wall Street as stock traders continue to ignore all the ominous warning signs that have been flashing.  The S&P Composite  and the NASDAQ both hitting new record highs today.  The Dow, not a record high, but positive on the day, closing above 26,000 for the week for the first time ever. Importan...

January 16, 2018 Buying Stocks with Both Hands When I recorded my podcast on Friday, just looking at the technical action in the dollar and I was getting nervous that maybe we could have been setting ourselves up for some kind of holiday surprise; a big drop over the 3-day weekend that could have led to some real fireworks on Tuesday; and when the market started, everybody ignored the new low in t...

January 12, 2018 Obvious Negative Factors Hiding in Plain Sight This Friday ahead of the three-day holiday weekend, all three markets are ignoring the ominous warning signs that are building by the day. They're registering new highs, the Dow up better than 200 points, 228, closing over 25,800; S&P, NASDAQ both hitting record highs today.  To me, this is very reminiscent of 1987, in that the st...

January 10, 2018 Bells are Ringing but Nobody is Listening They always say that nobody rings a bell at the top.  And that saying relates to the stock market, investors; there's never a clear warning sign, supposedly, of when to get out. My experience is actually the opposite.  I think many bells ring, not necessarily at the very top, but certainly close to it, it's just that they're ignored; or if...

January 8, 2017 Atlanta Fed's Q4 2017 GDP Estimate at Record Low The Atlanta Fed did downwardly revise its estimate of Q4 GDP as a result of the numbers that were released on Friday.  The downward revision took their estimate from 3.2% down to 2.7%. 2.7% is the lowest the estimate has been since they began estimating 2017 Q4.  In fact, earlier on, in October or November the Atlanta Fed was up to 4...

Schiffreport: January 5, 2018 Trump: We Will Win on Trade Earlier this morning the government released the December Nonfarm payrolls report, AKA the Jobs Number.  But rather than start with that, I want to talk about another number that was released at the exact same time. It unfortunately gets very little attention in the media, in fact nobody has really paid attention to this number since the la...

Market Ignoring Economic Realities All three of three of the U.S. stock market indexes are ringing in the New Year with new record highs.  The market was up on the first trading day of the year; up again today.  NASDAQ composite is the star, 7065 today up another .84% - a new record high. The same thing with the S&P and the Dow.  The Dow is now almost at 25,000; it closed at 24,922.  Of course...

2017 Optimism This is my final podcast for 2017.  I just watched the U.S. Stock Market ring the closing bell for the final time in 2017. Everybody is excited; everybody is optimistic.  I spent most of the day watching the financial coverage, mostly on CNBC to see the attitude and the types of coverage the market has received. The Dow Gained 5,000 Points in a Single Year Of course this is a record...

Trump's Economy Today President Trump signed into law the Tax Cuts and Jobs Act.  The biggest problem that the President will have with these tax cuts is that he now owns the economy.  That is going to be a big problem, because this is now Trump's economy. This is now the Republican economy. It's All Bullish Now, Trump now already owns the stock market, and that has served him well so far this yea...

Calling Tax Cuts Reform is Fake News Earlier today the House of Representatives passed the Tax Cut Bill.  Of course, the Media keeps referring to it as "Tax Reform".  That's fake news, for you, calling these tax cuts reform is a perfect example of fake news.  Donald Trump is not going to complain about this fake news.  When the fake news works in his favor, when he prefers the fake news to the rea...

Everybody Joins the Party All 3 of the major U.S stock indexes closed out the week at new record highs as it became apparent that the new tax cut deal was pretty much done. Marco Rubio, who had been a hold-out, caved and even Corker, the one Republican who was going to vote against the bill becase it was going to increase the deficit, decided to join the party as well.  He's now a yes, so the bill...

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 raised rates since the 2008 financial crisis. The Fed raised rates only once from Obama's...