The markets are really acting as they are figuring out what is going on. I mean the markets have stagflation written all over them. First of all, oil. Oil had a big up day today, better than 2 dollars a barrel. This is the highest price of the year yet despite this big jump in oil prices the Dow Jones Industrials Index was barely up and the Nasdaq Composite was down. Decoupling. (Nymex Crude Oil Futures, United States Oil Fund LP ETF (USO), iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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