Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
Login Archives Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
    ×
  • Subscribe
Enter stock ticker or keyword
×
Join 100,000+ Like-Minded Investors Today
Twitter
Tags: The Fed

Peter Schiff: Americans Will Have a Horrible Christmas - and the Fed Is to Blame

By Tara Clarke, Associate Editor, Money Morning • @TaraKateClarke • November 10, 2015

Start the conversation

Leave a Reply Click here to cancel reply.

You must be logged in to post a comment.

peter schiffPeter Schiff - renowned economist and the contrarian investor at the helm of Euro Pacific Capital - predicts Christmas 2015 will be far from merry and bright.

"I expect [job] layoffs to start picking up by the end of the year," Schiff said on CNBC's "Futures Now" on Nov. 5. "Retailers have overestimated the ability of their customers to buy their products. Americans are broke. They are loaded up with debt," he said. "We're teetering on the edge of an official recession," and "the labor market is softening. Most of the economic news that we get is consistent with recession, not recovery."

Schiff has been famously bearish about U.S. markets. The investor predicted the 2008 financial crisis. Next up, he says, is a U.S. dollar crash.

And the U.S. Federal Reserve is to blame.

"We're still teetering on the edge - I think - of an official recession; unofficially I think we've been in one the entire time," Schiff said in the same interview. "I don't think we're going to see a rate hike at all next year. I don't think we're going to see a rate hike until there's a dollar crisis, until there's a sovereign debt crisis."

Schiff, like Money Morning Chief Investment Strategist Keith Fitz-Gerald, believes the Fed's easy money policies have created a stock market bubble. In fact, Schiff deems it "the biggest bubble the Fed has ever inflated."

Earlier this year, Fitz-Gerald attacked the Fed's potentially harmful role in the U.S. economy right now.

"If you read the original mandate, it's very clear the Fed was created to prevent a banking crisis. But the modern Fed mandate is to control inflation and employment - those are very different. I don't think this modern interpretation is accurate; I think the Fed is messing with things," Fitz-Gerald said back on May 14.

"The Fed has gone from indirect influence to manipulation. The markets would fix this mess if left to their own devices, by bleeding excess risk out of the system. But the Fed doesn't want to allow that to happen. Instead, it has interpreted its mandate as preventing crisis - yet in reality, it is creating a far bigger crisis down the road."

Tweet the author @TaraKateClarke, or leave a comment on Money Morning's Facebook page.

This Number Makes Us Think the Market Rally Is Over: U.S. markets have rallied this fall. In the last five weeks ending Nov. 6, the Dow jumped by 8.5%, while the S&P 500 soared by 8%. The Nasdaq outdid them both with a 9.38% performance. So it's no surprise you're wondering, as we sit here at the beginning of November, whether Santa Claus came early or whether the market will keep "melting up" through the end of the year. And I bet you're not the only one. Here's the number we are looking at...

Related Articles:

  • CNBC: Peter Schiff: It's Going to Be a 'Horrible Christmas'

Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter

Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…

Claim My Free Report

Subscribe
Login
Notify of
guest

guest

0 Comments
Inline Feedbacks
View all comments


Latest News

September 15, 2023 • By Shah Gilani

We're Headed for a Second Banking Crisis - Here's What to Do

September 14, 2023 • By Tom Gentile

Tulips Are the Secret to Trading the Next 300% Rally in AI

September 14, 2023 • By Chris Johnson

Tulips Are Telling Me How To Trade the Next 300% rally in AI
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Penny Hawk Midday Momentum
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Quantum Data Profits Flashpoint Trader Darknet Alpha Accelerators Brutus Alerts Resource Traders Alliance L.A.U.N.C.H. Investor Rob Roy Trader Long-Term Equity Profits

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information

wpDiscuz