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Economics of Crisis
Peter Schiff
Peter Schiff is one of the few non-biased investment advisors (not committed solely to the short side of the market) to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on the US stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he has become increasingly more renowned.
23 May, 2012, 22:03
The Real Crash
I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market "experts" laughed at when I warned of trouble brewing in the seemingly indestructible American economy. After the wheels ground to a halt in mid-2008, people noticed that my book Crash Proof , originally released in early 2007, read like a detailed...
7 May, 2012, 22:02
The Golden Rule reinterpreted
In an April speech in Berlin, Dr. Andreas Dombret, a member of the Executive Board of the Deutsche Bundesbank (the German central bank), offered a startlingly frank assessment of the current problems in Europe. Although his comments were meant to apply to the tensions and imbalances that exist between the northern and southern tier of the 17-member eurozone, they shed inadvertent light on the...
6 April, 2012, 01:32
Obama's pretzel logic
As this fall's presidential election takes shape as a contest between Barack Obama and Mitt Romney, the rhetoric out of both camps is becoming sharper and more ideological. Looking to exploit Governor Romney's increasingly close association with Wisconsin representative Paul Ryan (who has been mentioned as a potential vice presidential nominee), the President dedicated a lengthy address earlier...
20 March, 2012, 20:00
Trade rains on the jobs parade
Earlier this month the Labor Department reported that 227,000 new jobs were added to the economy in February, marking the third consecutive month of positive jobs growth. Many observers took the news as evidence that the recovery has taken hold in earnest, helping send the S&P 500 index to the highest level in nearly five years. However the very same day the Commerce Department reported that,...
15 March, 2012, 00:38
America mortgaged at an adjustable rate
The Federal Reserve ran another "stress test" on major financial institutions and has determined that 15 of the 19 tested are safe, even in the most extreme circumstances: an unemployment rate of 13%, a 50% decline in stock prices, and a further 21% decline in housing prices. The problem is that the most important factor that will determine these banks' long-term viability was purposefully...
6 March, 2012, 03:37
Why buy the cow?
The commentary below is from Peter Schiff , CEO of Euro Pacific Capital and host of the nationally syndicated Peter Schiff Show , broadcasting live from 10am to noon ET every weekday, and streaming at www.schiffradio.com . Please feel free to excerpt or repost with the proper attribution and all links included. Why Buy the Cow? The communist revolutions in the 20th century sought to nationalize...
29 February, 2012, 21:07
No Easy Fix for Gas Prices
This month, as unleaded gasoline prices increased for 17 consecutive days (to a national average of $3.647 per gallon – up 11% thus far this year) and West Texas Intermediate crude joined Brent crude in breaking through a $100 per barrel level, energy prices emerged as a full blown political issue. While President Obama conveniently claimed that rising prices were the consequence of...
14 February, 2012, 00:53
Keynesians jump the gun on inflation
Advocates of government stimulus are running victory laps on recent developments that appear to vindicate their strategy. In particular, Paul Krugman compares the sluggish growth in Europe to the somewhat-less-sluggish growth in the US to prove that stimulus was more effective than austerity. Other economists are using government inflation measures to defend Fed Chairman Bernanke's easy-money...
28 January, 2012, 00:50
Waist Deep in the Big Muddy
With its announcement this week that it will keep interest rates near zero until at least late 2014, the Federal Reserve has put another large crack into the foundations underlying the US dollar. In a misguided attempt to provide clarity and transparency, Ben Bernanke has instead laid out a simple road map for economists and investors to follow. The signposts are easily understood: the Fed will...
10 January, 2012, 22:44
The Dollar's lucky streak
Recent U.S. economic data, such as the modest drop in the unemployment rate and the massive expansion of consumer credit, have suggested that the American economy is finally recovering. Opposite conclusions are being thrown at Europe, where many are convinced that recession is returning. Not surprisingly then, the dollar is currently hitting a multi-year high against the euro. The strength of...
