The Peter Schiff Show Podcast

Narrative of Racism

So I decided to record a special edition of the Peter Schiff Show Podcast, and it's very important topic, and I also wanted to include some video. It's not directly related to the economy or the markets, but really, indirectly, it is, because this nation is being pushed to the left by a lot of false narratives.  One of them, being racism, particularly when it comes to the issues of wealth disparity and trying to blame the difference in wealth between African Americans and the general population, and the reason for this is because of a pervasive and systemic racism, and that the only way that African Americans can succeed is if we elect a bunch of socialists who will enact laws to save them from racism and to re-distribute the wealth.

Media Remains Steadfast as Evidence Contradicts

And part of that narrative really was advanced back in 2012 with the Trayvon Martin incident with George Zimmerman and people who were listening to the Peter Schiff Show back in 2012, I really covered this topic pretty extensively. I was one of the earliest defenders of Zimmerman, and the reason I did that is because, as the evidence was coming out, it was completely contradicting the false narrative that was being pushed by the Martin family, by the media.  Yet the media remains steadfast in their opinion, even though they had all this evidence that contradicted it.

New Information Brought to Light

Well, the reason that I've resurrected this topic is that now George Zimmerman is in the news again, he has filed a $100 million lawsuit against the Trayvon Martin family, the mom and dad, the lawyers, prosecutors, and the media is again pushing the same false narrative.  They are writing all sorts of articles really vilifying Zimmerman all over again: "How dare this guy file this lawsuit!  Hasn't he done enough damage? He murdered a child and now he is suing the parents of the victim - all this terrible coverage.

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Narrative of Racism

So I decided to record a special edition of the Peter Schiff Show Podcast, and it's very important topic, and I also wanted to include some video. It's not directly related to the economy or the markets, but really, indirectly, it is, because this nation is being pushed to the left by a lot of false narratives.  One of them, being racism, particularly when it comes to the issues of wealth disparity and trying to blame the difference in wealth between African Americans and the general population, and the reason for this is because of a pervasive and systemic racism, and that the only way that African Americans can succeed is if we elect a bunch of socialists who will enact laws to save them from racism and to re-distribute the wealth.

Media Remains Steadfast as Evidence Contradicts

And part of that narrative really was advanced back in 2012 with the Trayvon Martin incident with George Zimmerman and people who were listening to the Peter Schiff Show back in 2012, I really covered this topic pretty extensively. I was one of the earliest defenders of Zimmerman, and the reason I did that is because, as the evidence was coming out, it was completely contradicting the false narrative that was being pushed by the Martin family, by the media.  Yet the media remains steadfast in their opinion, even though they had all this evidence that contradicted it.

New Information Brought to Light

Well, the reason that I've resurrected this topic is that now George Zimmerman is in the news again, he has filed a $100 million lawsuit against the Trayvon Martin family, the mom and dad, the lawyers, prosecutors, and the media is again pushing the same false narrative.  They are writing all sorts of articles really vilifying Zimmerman all over again: "How dare this guy file this lawsuit!  Hasn't he done enough damage? He murdered a child and now he is suing the parents of the victim - all this terrible coverage.

U.S. China Trade Deal Rumors are True

The U.S. stock market continues to add to its gains; the Dow Jones is up another 100 points today - a new record high: 28,235.89. We were up better than 200 points at one point in the day, but all the indexes are hitting new 52-week, or record highs.  Basically, we continue to bask in the light of the U.S. China Trade Deal that on Friday, we finally got news that the rumors of a trade deal were actually true. There actually is a trade deal because the Chinese have agreed, or admitted that they, too have come to some type of understanding with the United States on a Phase 1 Deal.

Lost in Translation?

Of course, we don't actually have the phase 1 deal yet because nothing is actually official; nothing has been signed. In fact, both sides seem to have different versions over what they have agreed to; so maybe some of the stuff has been "lost in translation".  We'll have to see if they can actually put something in writing where both sides will agree.

A Truce in the Trade War

But one thing we know is that whatever is involved in this deal - this is not the resolution. This is not a trade deal; this isn't even the end of the trade war. I would say it's probably a truce. It's not an outright surrender, although that's probably coming eventually, but it's really a truce in the trade war, and a de-escalation of arms. One of the things that the U.S. is supposedly committed to is rolling back the tariffs. Not only calling off new tariffs that were supposed to take effect over the weekend, but eliminating or reducing the tariffs that are already in place. But as far as a comprehensive deal that actually delivers the type of structural change that President Trump promised; nobody thinks that any of that stuff is involved in this deal at all.

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U.S. China Trade Deal Rumors are True

The U.S. stock market continues to add to its gains; the Dow Jones is up another 100 points today - a new record high: 28,235.89. We were up better than 200 points at one point in the day, but all the indexes are hitting new 52-week, or record highs.  Basically, we continue to bask in the light of the U.S. China Trade Deal that on Friday, we finally got news that the rumors of a trade deal were actually true. There actually is a trade deal because the Chinese have agreed, or admitted that they, too have come to some type of understanding with the United States on a Phase 1 Deal.

Lost in Translation?

Of course, we don't actually have the phase 1 deal yet because nothing is actually official; nothing has been signed. In fact, both sides seem to have different versions over what they have agreed to; so maybe some of the stuff has been "lost in translation".  We'll have to see if they can actually put something in writing where both sides will agree.

A Truce in the Trade War

But one thing we know is that whatever is involved in this deal - this is not the resolution. This is not a trade deal; this isn't even the end of the trade war. I would say it's probably a truce. It's not an outright surrender, although that's probably coming eventually, but it's really a truce in the trade war, and a de-escalation of arms. One of the things that the U.S. is supposedly committed to is rolling back the tariffs. Not only calling off new tariffs that were supposed to take effect over the weekend, but eliminating or reducing the tariffs that are already in place. But as far as a comprehensive deal that actually delivers the type of structural change that President Trump promised; nobody thinks that any of that stuff is involved in this deal at all.

Fed: Interest Rates on Pause

Today the Federal Reserve had its last official meeting of the year. And, as was widely expected, the Federal Reserve was unanimous in their decision not to cut interest rates. They didn't even consider hiking interest rates, but they decided not to cut them any further for now. So, they're on a pause.  The short-term rates are now 1.5%. The target is 1.5% to  1.75%, and the idea is that the Fed is going to remain there for some time.  Now, I don't really think it is going to be that long before they cut rates.

Fed Will be back to Rate Cutting Soon

I was on Fox Business earlier today with Liz Claman, and Liz asked me when I thought they were going to cut rates in 2020. I said, I don't know the exact meeting,  that they're going to choose to do it.  I think a lot of it depends on what's happening with the stock market. As soon as the stock market starts to sell off, if that's what happens, I think that could motivate the Fed for the next rate cut. And maybe, if we get enough bad economic data, the Fed might move for that reason. But whatever the reason is going to be, whatever the excuse they're going to make up, the Fed is not done cutting. I don't think they will pause until 2021 or later, as a lot of people seem to believe.  I think the Fed is going to be back in the rate cutting business much sooner than that.

The November deficit: $2o9 Billion

Of course, the quantitative easing business - that's not going to stop. They're going to continue to expand their balance sheet and print money so that they can prop up the bond market and prop up the stock market and prop up the government.  So that is going to continue.  In fact, we got the official budget deficit released, I guess at about the same time as we got the Fed decision.  The November deficit: $2o9 billion.  We've not got two months into this quarter and the deficits are running much higher than they were earlier, so even though the economy is supposedly getting better, the deficits are getting bigger.

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Fed: Interest Rates on Pause

Today the Federal Reserve had its last official meeting of the year. And, as was widely expected, the Federal Reserve was unanimous in their decision not to cut interest rates. They didn't even consider hiking interest rates, but they decided not to cut them any further for now. So, they're on a pause.  The short-term rates are now 1.5%. The target is 1.5% to  1.75%, and the idea is that the Fed is going to remain there for some time.  Now, I don't really think it is going to be that long before they cut rates.

Fed Will be back to Rate Cutting Soon

I was on Fox Business earlier today with Liz Claman, and Liz asked me when I thought they were going to cut rates in 2020. I said, I don't know the exact meeting,  that they're going to choose to do it.  I think a lot of it depends on what's happening with the stock market. As soon as the stock market starts to sell off, if that's what happens, I think that could motivate the Fed for the next rate cut. And maybe, if we get enough bad economic data, the Fed might move for that reason. But whatever the reason is going to be, whatever the excuse they're going to make up, the Fed is not done cutting. I don't think they will pause until 2021 or later, as a lot of people seem to believe.  I think the Fed is going to be back in the rate cutting business much sooner than that.

The November deficit: $2o9 Billion

Of course, the quantitative easing business - that's not going to stop. They're going to continue to expand their balance sheet and print money so that they can prop up the bond market and prop up the stock market and prop up the government.  So that is going to continue.  In fact, we got the official budget deficit released, I guess at about the same time as we got the Fed decision.  The November deficit: $2o9 billion.  We've not got two months into this quarter and the deficits are running much higher than they were earlier, so even though the economy is supposedly getting better, the deficits are getting bigger.

The Trayvon Hoax: Unmasking The Witness Fraud That Divided America

Jeantel's Lies: Prosecution's Star Witness in George Zimmerman Trial Commits Perjury

Special Podcast about a Hoax

I wanted to to take some time and record a special podcast today, really having nothing to do with the markets and the economy and just focus on a topic that I haven't discussed in quite some time. I do believe that the politics surrounding this event are relevant to the economy, and to the markets, although, because really has set in motion political winds that are blowing the country in a direction that is very detrimental to the U.S. economy and to the markets.

Circumstances Surrounding the Death of Trayvon Martin

I think it was 2012 when the Trayvon Martin story really took off in the U.S. If you remember, George Zimmerman is the person killed Trayvon Martin and, initially, everybody was quick to believe the completely ridiculous-sounding story that was being perpetrated by the Martin family and their attorney, as to what happened, and the circumstances surrounding the death of Trayvon Martin.

Who is the Racist?

I was one of the earlier who came out and I was defending George Zimmerman.  I took a lot of heat back then, initially, because people were saying, "Hey, it's racist for me to be defending George Zimmerman. But the reality was, I thought it was racist for the people to have believed the complete nonsense - a ridiculous story about what happened. It made a lot more sense to me, just judging by the facts, not looking at the races of the individuals or any of that, just judging by the facts - George Zimmerman's version of events made sense.

Plausible vs. Implausible

The other version made no sense at all.  I think it was the racists who were so quick to dismiss George Zimmerman's version, which made sense, was supported by all the evidence and the other witness testimony that came out - rather than simply believing the parents of Trayvon Martin or their lawyer.

 

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The Trayvon Hoax: Unmasking The Witness Fraud That Divided America

Jeantel's Lies: Prosecution's Star Witness in George Zimmerman Trial Commits Perjury

Special Podcast about a Hoax

I wanted to to take some time and record a special podcast today, really having nothing to do with the markets and the economy and just focus on a topic that I haven't discussed in quite some time. I do believe that the politics surrounding this event are relevant to the economy, and to the markets, although, because really has set in motion political winds that are blowing the country in a direction that is very detrimental to the U.S. economy and to the markets.

Circumstances Surrounding the Death of Trayvon Martin

I think it was 2012 when the Trayvon Martin story really took off in the U.S. If you remember, George Zimmerman is the person killed Trayvon Martin and, initially, everybody was quick to believe the completely ridiculous-sounding story that was being perpetrated by the Martin family and their attorney, as to what happened, and the circumstances surrounding the death of Trayvon Martin.

Who is the Racist?

I was one of the earlier who came out and I was defending George Zimmerman.  I took a lot of heat back then, initially, because people were saying, "Hey, it's racist for me to be defending George Zimmerman. But the reality was, I thought it was racist for the people to have believed the complete nonsense - a ridiculous story about what happened. It made a lot more sense to me, just judging by the facts, not looking at the races of the individuals or any of that, just judging by the facts - George Zimmerman's version of events made sense.

Plausible vs. Implausible

The other version made no sense at all.  I think it was the racists who were so quick to dismiss George Zimmerman's version, which made sense, was supported by all the evidence and the other witness testimony that came out - rather than simply believing the parents of Trayvon Martin or their lawyer.

 

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Dow Up From Last Week's Trade Deal Woes

The Dow Jones closed out the week with 3 plus days in a row, culminating in today's 337 point jump, back above 28,000 - the Dow settling in at 28,015.06.  Remember, when I recorded my podcast on Tuesday, we had just finished 3 consecutive down days in a row, and that's been reversed.  The catalyst for the decline, prior to my last podcast was negative news on trade.  In particular, the news that Donald Trump, at a press conference, let the cat out of the bag and said, "As far as I'm concerned, it would be better if we waited until after the election to have a trade deal with China. And, of course, the markets were expecting a trade deal any day and all of a sudden Trump is saying, "Hey, I think it's better to wait until after the election." - which is a year from now. Of course, it's not a lock that Trump is going to win a second term. Nonetheless, that was a negative for the market.

Positive Trade News Equals New Dow Highs

Well, what happened, was, on Monday morning, pretty much before they even rang the bell, the White House was already doing damage control and walking that back because all of a sudden I started reading these headlines, "White House Says Trade Talks Going Well". Of course, that means nothing. But you have a lot of traders now who are keying in on these press releases. As soon as they see any positive news, they just buy. As long as positive trade news makes the market go up, whenever they see the positive trade news, they're going to buy.

Will We Ever Have a Fact to Sell On?

The reason that all of this news makes people want to buy stocks is because everybody believes that when we do get a deal, the stock market's going to soar. So everybody wants to be in so they can sell that rally. Of course, I've been saying since the beginning that I think it would be a "buy the rumor, sell the fact", which is why we're probably never going to have a fact to sell.

Our Sponsors:
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Privacy & Opt-Out: https://redcircle.com/privacy

Schiffbooks.com

Letusdissagree.com

Mene.com

Dow Up From Last Week's Trade Deal Woes

The Dow Jones closed out the week with 3 plus days in a row, culminating in today's 337 point jump, back above 28,000 - the Dow settling in at 28,015.06.  Remember, when I recorded my podcast on Tuesday, we had just finished 3 consecutive down days in a row, and that's been reversed.  The catalyst for the decline, prior to my last podcast was negative news on trade.  In particular, the news that Donald Trump, at a press conference, let the cat out of the bag and said, "As far as I'm concerned, it would be better if we waited until after the election to have a trade deal with China. And, of course, the markets were expecting a trade deal any day and all of a sudden Trump is saying, "Hey, I think it's better to wait until after the election." - which is a year from now. Of course, it's not a lock that Trump is going to win a second term. Nonetheless, that was a negative for the market.

Positive Trade News Equals New Dow Highs

Well, what happened, was, on Monday morning, pretty much before they even rang the bell, the White House was already doing damage control and walking that back because all of a sudden I started reading these headlines, "White House Says Trade Talks Going Well". Of course, that means nothing. But you have a lot of traders now who are keying in on these press releases. As soon as they see any positive news, they just buy. As long as positive trade news makes the market go up, whenever they see the positive trade news, they're going to buy.

Will We Ever Have a Fact to Sell On?

The reason that all of this news makes people want to buy stocks is because everybody believes that when we do get a deal, the stock market's going to soar. So everybody wants to be in so they can sell that rally. Of course, I've been saying since the beginning that I think it would be a "buy the rumor, sell the fact", which is why we're probably never going to have a fact to sell.