The Peter Schiff Show Podcast Fed Trumped by Tariff Card – Ep. 489
Aug 2, 2019
43:05
Recorded August 1, 2019
Trifecta Podcasts this Week
I hadn't planned on recording a podcast today; I did one yesterday and I figured I'd wait until Friday, get the … payroll numbers and finish up the week with a Friday podcast. But so much action in the markets today, that I just couldn't resist. I knew there would be a lot of people who would be excited to get a podcast today, so we're going to have a trifecta - we're going to have three days in a row of podcasts.
Nobody on CNBC saw the Rate Cut Coming… But I Did
Before I even get into a lot of the market action today, I want to talk a little bit about what I heard on CNBC this morning. They're still talking about the rate cut that we got yesterday and the host said, "Six months ago, nobody could have possible predicted… nobody would have believed that we'd be here today and the Fed would be cutting rates. And nobody could have possibly believed that the Fed would be ending the quantitative tightening program, because it's now over!" So, according to CNBC, nobody could have possibly predicted this, yet it happened anyway. Wait a minute: what about me? I predicted it. I said it was going to happen. I didn't say it on CNBC because they won't let me on, but I said it on my podcast. I even said it on their competitor network, Fox Business. Maybe if they watched Fox Business they would've known about this.
I Predicted, Live, That December Hike Would the Last Hike
So, really, what they meant is nobody on CNBC saw it coming. None of their anchors, none of their regular guests saw an end to quantitative tightening. None of them saw the rate cut. But I did. Not only did I predict that the Fed would cut rates, I predicted, live, that the December hike was the last hike. and that the very next move by the Fed would be a cut. And that is exactly what they did.
Our Sponsors:
* Check out Avocado Green Mattress: https://avocadogreenmattress.com
* Check out Boll & Branch: https://boilandbranch.com/SCHIFF
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
Privacy & Opt-Out: https://redcircle.com/privacy
Trifecta Podcasts this Week
I hadn't planned on recording a podcast today; I did one yesterday and I figured I'd wait until Friday, get the … payroll numbers and finish up the week with a Friday podcast. But so much action in the markets today, that I just couldn't resist. I knew there would be a lot of people who would be excited to get a podcast today, so we're going to have a trifecta - we're going to have three days in a row of podcasts.
Nobody on CNBC saw the Rate Cut Coming… But I Did
Before I even get into a lot of the market action today, I want to talk a little bit about what I heard on CNBC this morning. They're still talking about the rate cut that we got yesterday and the host said, "Six months ago, nobody could have possible predicted… nobody would have believed that we'd be here today and the Fed would be cutting rates. And nobody could have possibly believed that the Fed would be ending the quantitative tightening program, because it's now over!" So, according to CNBC, nobody could have possibly predicted this, yet it happened anyway. Wait a minute: what about me? I predicted it. I said it was going to happen. I didn't say it on CNBC because they won't let me on, but I said it on my podcast. I even said it on their competitor network, Fox Business. Maybe if they watched Fox Business they would've known about this.
I Predicted, Live, That December Hike Would the Last Hike
So, really, what they meant is nobody on CNBC saw it coming. None of their anchors, none of their regular guests saw an end to quantitative tightening. None of them saw the rate cut. But I did. Not only did I predict that the Fed would cut rates, I predicted, live, that the December hike was the last hike. and that the very next move by the Fed would be a cut. And that is exactly what they did.
Our Sponsors:
* Check out Avocado Green Mattress: https://avocadogreenmattress.com
* Check out Boll & Branch: https://boilandbranch.com/SCHIFF
* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com
Privacy & Opt-Out: https://redcircle.com/privacy