Peter Schiff, a stock market analyst, said in his recent podcast that Americans just don’t want the truth. Schiff says that it is very likely that we are already in a recession and no one wants to accept that or even deal with it.
“Nobody wants to deal with the truth; because you know how grim the reality is? Because if you have to accept the fact that this economy is going into recession, then you have to accept a lot of unpleasant things that nobody wants to admit,” Schiff was quoted during his podcast, according to Schiff Gold.
The stock market got a nice bump on Monday with the news that there was a “truce” in the trade war. That lasted all of one day. The markets tanked on Tuesday as investors realized the “truce” really didn’t mean anything. The Dow Jones plunged 799 points, a 3.1% drop. The S&P 500 declined 3.2%, while the Nasdaq was down 3.8%. As one news outlet put it, “investors are quickly realizing that the US-China trade war is not over. The tariffs already put in place remain. And new tariffs could be implemented if the two sides fail to make progress.” –Schiff Gold
“The market is saying it thinks sometime two or three years from now, the Fed is going to be cutting rates because the economy is going to be in a recession,” said Schiff. “And so people think yields will be lower three years from now then they are today because they think the economy will be into a recession at some point in the future.”
Schiff added that there is a good possibility that we are actually in a recession right now. “In fact, we may even be in a recession now. We don’t know yet. We won’t know yet until the government goes back and revises all the numbers. But that is what they will do because if you look at what is going on beneath all the headlines, the real economic data is weak. I don’t care that the unemployment rate is still low. The unemployment rate can spike higher very quickly.”
Schiff says most people are still in denial about the economy and the downturn too.
“What has happened in the last week is very, very bullish for the price of gold, and the price of gold is not catching much of a bid. I think again, the main reason for this is because nobody gets it. People still think this is a bull market. They’re not worried about the decline. They think it’s just a buying opportunity. It’s just a correction. They still think the economy is good. Even though the bond market doesn’t, even though the yield curve is inverting in the front end of the curve, people are dismissing that. They’re dismissing the housing data; they’re dismissing the build in the crude inventories. They’re not looking at any of the real data because nobody wants to believe it. Everybody still wants to believe all the hype — that this economy is great, that this economy is booming. Nobody wants to deal with the truth; because you know how grim the reality is? Because if you have to accept the fact that this economy is going into recession, then you have to accept a lot of unpleasant things that nobody wants to admit.” –Peter Schiff
Its coming like the sun coming up in the morning…
Thats why I have 2000 spf sunscreen, I don’t want to get burned.
Mac, with all due respect, it would be nice to have (fewer) quality articles than more (low quality) articles. If you would like, I could write a few for you. Get us back on the prepping track. My wife is a great editor for my not so perfect writing skills. Let me know I would be happy to contribute.
I don’t agree, because I can come to this site and not have to even bother going to the mass media sites to hear about all the news going on.
With Drudge I have to click through to read the news.
Genius, I think a lot of these articles are just “filler”. Prepping isn’t rocket science, but I agree that there should be more survival related articles
“You can not reason with a Tiger when your head is in it’s mouth.” Winston Churchill -From “Darkest Hour” movie 2017. Watch it.
There is a Tiger that is getting YOUR head in it’s mouth NOW. This very day.
That TIGER is the Tech Mafia monopoly, Technology, AI, Robots, 5G, and NWO collectivist commie ideology spread by the Schools amd Media.
The Tech Mafia/Media monopoly that is squashing free speech and any speech the leftist NWO collectivist commies don’t agree with.
– For now, they want to shut you up and shut you down.
– Then they will take your guns and ammo.
– Then in a few years from now the tech matrix will be completely built. AI, Robots, road sensors, 5G, the Tech Mafia, will control you completely. Tech will watch, snoop, surviell, control, then KILL you DEAD.
– First they will crash the economy. Broke people are easy to control. Men with wealth have options.
– They will eliminate cash. Digital currency equals control. You will be watched and controlled.
– AI, Robots, will take your jobs and snitch, snoop, control, then KILL you. 5G is a surviellance/kill weapon. AI, Robots, will be used by the few to kill the masses.
– Leftist will Take your guns and ammo. Remove your ability to say “No”. It will be, “For the children and safety.” Media brainwashing. Media is All LIES.
– Starve you out with the made up climate change false narrative. Geoengineering chem trails, ionosphere heating. Hungry people will give up EVERYTHING in order to eat. Food is a weapon.
There is an open attack on all traditional American and family values. They hate male masculinity. They want you weak, dependent, broke, unarmed, controlled, then DEAD. They want to kill you. “You are useless eaters.” That is your “leaders” perspective. The Tiger wants your head in it’s mouth.
Once your head is in the Tigers mouth it is too late.
You are dead.
Wake up to the Tiger and his intentions. Acknowledge the enemy.
Collectivist, drug heads, NWO commies, anti American media, UN tyrants, tech mafia monopoly, all are trying to take down an elected US President with lies and witch hunts.
But the real goal is to take down America. To have a one world system. America subjugated. Depopulation. Genocide.
These people and the media hate America, they hate God, they hate your children and hate you. They are out to DESTROY you.
Your head is near the Tigers mouth. Any day now.
Americans will either wake up or be the Tigers snack.
Or Make the Tiger into a rug. That is the other choice.
God. Family. America. Life. Liberty. Freedom. Ability and the WILL to defend your home and family.
Where is your will?
Where is your courage?
Humanity is in more danger now from all of the above than they were from Nazi’s. The peril and danger from the above items listed must be acknowledged, faced, prepared for, and dealt with.
Are you men or cattle to be herded, controlled, and easily slaughtered.
The Tiger is at your door. What are you going to do?
Will you be a snack?
Will you make a rug out of the Tiger?
Better decide NOW. Once your head is in the Tigers mouth. It is too late.
Very interesting post Anon, but what good is their plan to kill, control you through 5g and AI if that dreaded emp pops off? I think the shtf when the economy collapses. Period
People dont realize all tye tech thats coming to control us. The permanent drones in the sky that will video and record everything. People think they will sneak off into the night and with their illegal gun shoot out traffic cameras etc in a form of rebellion only to have it all recorded by the eyes in the sky and when you sneak through the woods enter your car and drive home they gotcha. And you wake up with jackboots at your door at 5am. Only when we have lost everything and nothing to lose will it really begin. Too bad until then we sit here and watch them makes laws to disarm us. We will remember their tactics when we are throwing stones at tanks…we will remember when we thought we were right and that was their agenda. We will remember when we turned in our guns without a shot fired, and we will regret it with lur last dying breath under the boot of totalitarian govt.
Still collapsing yawn
Secrets of the Elite
There are three
Qualifying his doom and gloom with a three year window?
It does look to me that the FED is applying excessive pressure on the market, and they will trigger a recession. Some recessions are shallow and short, some are deeper and longer. Big difference in their impact on us.
Had my annual meet and greet with my broker. Yes he is expecting at least a correction to the markets, which I will used as a buying opportunity.
The tax breaks trump put in place will continue to give corporate America funds they need to compete, innovate and expand. Those aren’t going away until we get Democrats in the whitehouse again.
Trump also continues to remove regulation that was strangling business. Again, these regulation changes will benefit the US economy until a democrat can put them back.
Another huge bonus was the recent discovery of one of the largest oil and gas deposits in US history in New Mexico. Cheap energy is key for business, low cost fuel affects everyone’s budget in a positive way. Many people think WW2 ended the Great Depression, but in fact it was a huge oil find at High Top in Texas. Cheap fuel changed everything economically.
Freaking out because Trump uses tariffs as a negotiating tool is just scare tactics and anti-Trump speak. Trumps public possition is he wants all tariffs off. Previous trade deals that block US exports, while giving sweetheart deals to foreign trade that destroys US business have to end. That’s a trade bubble that would have killed us.
There is a debt bubble and the FED raising rates will ultimately pop that bubble. It would be telling if the FED blinked at their promised December rate increase.
After the Eight years of totally over manipulated markets with zero interest rates of Obama, I suggested to my broker that I was going to dust off my favorite investing textbook and return to an economic cycle approach to investing. In any phase of an economic cycle there are always some investments that make money. I view the current market correction as an opportunity to begin buying into the market, and this includes how funds are invested in a 401k plan.
I don’t see an end of the world scenario here. Though I’m prepped to handle just about anything, and will continue reviewing and improving my preps.
Schiff has been predicting doom and gloom for what, ten years now? It’s his shtick. It’s what he does. He manages to make a living from financial fear porn.
Sooner or later he’s going to be correct. But especially if along the way you’ve taken prudent precautions the sun is shining and the birds are warbling. Remember to enjoy it.
Pay more attention to your family and friends, the work you do, and your town and less attention to the fear porn purveyors.
If Standsberry research is to be be believed, and he has been correct more often than Peter Schiff ever was, there could be another 200% gain in markets before the much touted crash they predict.
That’s a lot of gain to pass up. The biggest gains of any Cycle historically are made in the last year and a half of any economic cycle.
Try to stick it out, but still be ready to run, don’t get greedy.
If Schiff knows what he is talking about, and has known for all these years of predictions he’s made, he must be one of the richest men in the world.
Maybe he’s an advisor to Sorros, Buffet and such.
After all, they must have someone advising them to have gotten that wealthy, right?
Wish I could see Schiff’s financial portfolio, then maybe I could use it to join him at the top of the heap.
No shit, Sherlock. The people at the bottom already know this. It’s the people at the top and the upper middle class that have adopted that ever-classic pose with their head in the sand and ass in the air.
Genius makes an excellent point. The fall of the republic will be the most documented in history. Meanwhile so-called conservatives is watch, document, play defense or listen to men wearing suits.
For example, how about some articles on secession? Surely you believe in secession.
Schiff is a snake oil salesman. Schiff has been making a living off of fake news for at least a decade. Schiff comments on the lies coming out of a fully-rigged, manipulated and controlled government, FED, and Wall Street, when the “truth” is that its all rotten to the core. All of it.
The people don’t want a recession. They don’t want their lives wasted yet again on yet another fully-rigged, manipulated, and controlled “Great Recession.” They want a complete reset. They want a full-on systemic collapse. Enough is enough.
A full on systemic collapse would probably kill about a hundred million Americans and those left would be under the rule of some foreign power, not their own sovereign and independent government.
You talk like we have a righteous, stand-up government. We don’t.
Instead, what we have is people (mainly Progressive Socialist Democrats and unelected rogue billionaires like George Soros), saying how continued exponential growth on a finite planet is a good thing. The truth is over-population is killing the Earth, exhausting the limited supply of arable land, fresh water, and natural resources.
The United States was once the predominant economic, political, social and cultural power back in the 1940s and 1950s. Still, we had problem enough with a population of 150-million. Today, things are out of control with a population of 320-million. 150-million is a good number, a sane number, a manageable number. But sanity has nothing to do with anything anymore.
Government is force. However, the United States is ruled by snowflakes and candy-a**es that can’t even summon the courage to defend its own borders.
No country can make any claims of sovereignty without secure borders.
For all we know (coming out of the fully-rigged, manipulated and controlled MSM), the “caravan(s) have been turned away, and for once the invading hordes have been stopped.
The truth is probably completely different. Once again, tens of thousands of illegals, the dregs of the world, waving the flags of their home countries, have invaded the United States and been put on the dole, given free food, homes, clothes, cars, and been issued drivers licenses and voter registration cards; while their children have been enrolled in American schools that no longer teach English as the native language.
All this is happening while these sanctuary cities and states abandon American citizens, veterans, and the homeless to their all but certain death.
I haven’t seen any standing up in the United States in over 30-years.
I still prefer having our own government to, say, the UN, or or maybe Russia or the EU or something else taking its place.
Many extremely wealthy folks have contingency plans for a collapse so it’s hardly conspracy theory. Look up what Brad Pitt let slip about training with weapons in case of a collapse.
Since when is a recession the end of the world? To think it will never happen again is retarded. Now, if it becomes more thats one thing. But everyone making a huge ordeal out of recession BFD.
There was no tax on wages. In 1939 the section of the code that read “How to determine taxable income” was one page long and it was very specific.
Taxes on wages were the idea an undersecretary of the Treasury who proposed withholing. His idea was that people would simply comply with that instead of what the Code actually states.
Selling the Post Office would require an amendment to the Constitution.
Article 1, Section 8, Cls. 7, “To establish Post Offices and post Roads”.
Let’s not allow anymore changes to the Constitution as the government has already changed Article 1, Section 8, Cls. 15&16 in order to usurp the power of the People to contain the government.
Recession? Compared to what? We don’t have recessions or stuff like that that can be measured. What we have is a countinually changing New Normal. And the direction has been a steady increase in Parasite Takers and a Steady decrease in Producing Makers.