U.S. Economy: GDP Report Is Even Weaker Than It Seems

If you look beneath the surface of this rather meager GDP number, it gets worse.

Here is number 1: The Deflator. The government always deflates the nominal GDP by the inflation rate because they want to take the inflation out of the numbers to see what is really going on. That is the real GDP. So normally nominal GDP has to be subtracted, you subtract the deflator from your nominal GDP to arrive at your real GDP. Not this time. Because the government assumed inflation was a negative 0.1%. Negative! Meaning that prices dropped. So instead of taking the nominal number and deflating it, they took the nominal number and inflated it!

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

A Bearish Case For Apple (AAPL)

Apple (AAPL) is basically single handedly powering the entire Nasdaq. All the earnings growth is coming from Apple (AAPL). But of course it is going to be harder over time for Apple (AAPL) to maintain that type of growth and those margins going forward because you have so many companies around the world competing for share in that market.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Economic Data, Stocks & Foreign Exchange

The stock market continues to ignore all of the bad news that is reigning in on the U.S. Economy. The bad news is not being ignored in the forex markets although I do believe that the reaction should be bigger and will be bigger as far as the dollar declining as the economic data continues to disappoint.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Canadian Dollar Outlook

It looks like the Canadian Dollar has in fact bottomed. I have been talking about that for a while. So there could be a very big rally going forward and not only in that currency but in several other currencies as well that are likely going to be experienced "good news" in the form of higher inflation and as a result they are going to be raising their interest rates.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

"W" Bottom In The Oil Price

I have been talking about the rebound in oil prices. This week oil prices moved above 57 dollars. It may not sound like a lot, as we were paying 100 dollars a barrel but oil bottomed out at 42. So, percentage wise, that`s a pretty big move. And I think we are forming a very, very sizable "W" bottom in the oil price.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Consensus On The U.S. Economy Is Wrong

The markets have been volatile but the news again, what little did we have, has been bad. On Monday we got the Chicago Fed National Activity Index and once again everybody was expecting a bounce back because last month the index dropped. It was down 0.11% and the consensus was that it would rebound to +0.15%.

It always seems to be the consensus, I am sure they are looking for a bounce back in April...

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Federal Reserve Will Tolerate Inflation

The Federal Reserve can talk about why it might raise interest rates in response to a higher inflation but it is never going to do it. It`s going to tolerate a higher inflation just like it tolerated the lower unemployment. They are going to move that 2 percent goal post further and further away every time they approach it but people still haven`t figured that out.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: More Bad Data (Housing Starts)

I want to get into some of the economic news that came out. The worst of it was on Thursday when it comes to the Housing Starts, where the numbers for both starts and permits were way, way below estimates.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: When Will The Federal Reserve Raise Interest Rates?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Dollar Is Going To Fall Off The Edge Of A Cliff

A lot of people will be buried when this market turns and it is going to take no prisoners. When you get this turn in the forex markets, I think the dollar is going to fall off the edge of a cliff. You are going to see a lot of people losing a lot of money.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Forex Outlook

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Traders Are Wrong In Making Bullish Dollar Bets

Traders are continuing to make bullish dollar bets despite the fact that more and more weak economic data continues to pour in.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Is Strong Even In A Strong Dollar Environment

The ability of gold to strengthen in a strong dollar environment is a very positive sign because if gold is strong when the dollar is strong, then it will be really strong when the dollar is weak which ultimately is the future that waits the dollar.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

There Is A Lot Of Strength In The Gold Market

The euphoria with respect to the dollar and the U.S. Economy is not universally shared because if the people really were this optimistic on the dollar, gold would be going down.

The fact that gold outperformed the dollar, because gold was up in dollar terms this week, even when the dollar was up against other currencies, it means that gold was more appealing than the dollar. Because obviously people made more money in gold than they did in dollars, no matter which country you are from. I think this shows there is a lot of support, a lot of strength in the gold market that people do not appreciate.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

A Bullish Signal For Gold

Gold had very interesting week. It finished back above 1,200. In fact it finished Friday strong. Gold was up about 14 dollars, it closed at 1,207. What was interesting about the strength of gold is that the dollar had one of its best weeks in months. The dollar was up better than 3 percent on the week, closing the week near the highs, yet gold prices rose despite that. In terms of other currencies, gold was much stronger. In Euro terms, gold is very close to a 2-year high.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

European QE & QE4

The whole justification for European QE is, "Hey, look how well it succeeded in America."

But if we slip back into recession and have to do QE4, that is pretty strong evidence, at least to anybody who is thinking, that it did not work.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: The Fantasy Is Going To End

The weather excuse is going to run dry soon, we are going to get into Spring, it is April and it is not going to be as cold, its not going to snow but it may rain on the Wall Street`s excuse parade., that is for sure.

Because if we continue to get weak numbers as I expect, through out the Spring, then this all fantasy is going to come to an end.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Markets: The Next Crisis

The crisis that is coming is going to be a dollar crisis. The dollar was down 1 percent in a thin holiday trading session immediately following the release of this very disappointing March jobs report. But the decline in the dollar is just getting started.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: A Dismal Jobs Report

The actual number was 126,000 jobs. That is it. That is the fewest number of jobs that we have created since December of 2013. That means we did better in the Polar Vortex during January, February and March of 2014. This was worse than those numbers.

Now to add insult to injury, they went backwards and they took 67,000 jobs away for the last 2 months.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The U.S. Dollar Rally Is False

The U.S. dollar is still on the defensive, it has not imploded yet, but it is not making new highs anymore. And I think that the speculators that have been buying up dollars (and again, this is the most crowded trade, long the dollar, short just any other currency), the speculators who are on this trade are having a hard time acknowledging that it is not working out. It is very tough to break this trend. You get all this news that keep coming out that should be lifting lightbulbs on people`s heads.

The whole rationale for the strong dollar is based on a strong U.S. Economy and the Federal Reserve raising rates. Well, if the U.S. Economy is not strong and if we are getting back into recession, if the Federal Reserve is going to be doing QE4 then the U.S. Dollar`s rally is all false.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Oil & Gold: Searching For A Bottom

Oil really looks like it is searching for a bottom just like Gold is searching for a bottom. We had a very, very strong day in Gold. The price of Gold is now back above that psychological important 1,200 level.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Currency Markets Are Prepared For The Opposite Of What Is Going To Happen

I think what you are going to have is Central Banks increasing interest rates around the world at the time the Federal Reserve is doing QE4.

So, I think the currency markets are prepared for the opposite of what actually is going to happen. They think everybody in the world is going to be easing and the Federal Reserve is going to be the only central bank tightening. We will be doing QE4 and other central banks are going to be trying to put out the inflationary fire that they lit on purpose.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.