While I was in Vegas, I was reading an article about the other gambling mecca in the United States, Atlantic City. And, Atlantic City, the reason i even read the article was because it was about the closing of the Trump Plaza casino and after this casino closes, the Taj Mahal will be the only remaining Trump property in Atlantic City. But I did not even realize until I read it that this is the fourth major casino to be shutting down in Atlantic City this year. This year!
Four big casinos shutting down. And all this talk about this recovery, the recovering economy, why are all these casinos shutting down?
Again, it occurred to me that this more of an example of this bifurcated economy, where you have some people doing really well, maybe very wealthy people, people who are levered up, that own assets, that own stocks, real estate. But the majority of americans are hurting as they are suffering from higher food prices, higher electrical bills, higher rents. they are on the losing end of the QE (quantitative easing) stick.
Related stocks: Las Vegas Sands Corp.(NYSE:LVS), MGM Resorts International(NYSE:MGM), Monarch Casino & Resort, Inc.(NASDAQ:MCRI), Boyd Gaming Corporation(NYSE:BYD)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jul 15, 2014
Jul 14, 2014
U.S. Economy: Living Beyond Its Means
Related: U.S. 10-Year Treasuries, SPDR Gold Trust ETF (GLD), Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY);
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jul 11, 2014
Markets: Boom or Bubble?
Related ETF: Market Vectors Gold Miners ETF (GDX)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jul 10, 2014
Gold: The Naysayers Are Wrong
Related: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jul 9, 2014
Bullish On The Euro Currency
I think the U.S. Dollar has further to go down relative to the Euro (EUR). As bad as things are in the Euroland, they are worse in the United States. And I think we are going to push the envelope much further than the Europeans. I think as inflation begins to accelerate, as Europe measures it, they are going to be quicker to try to tighten than the United States.
No matter how high the official inflation numbers get, Janet Yellen will just dismiss it, explain it away. She is going to call it noise and say its good for us. The Federal Reserve will do nothing to contain inflation.
Related: EURUSD forex cross, Globex EUR Futures, SPDR Gold Trust ETF (GLD)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
No matter how high the official inflation numbers get, Janet Yellen will just dismiss it, explain it away. She is going to call it noise and say its good for us. The Federal Reserve will do nothing to contain inflation.
Related: EURUSD forex cross, Globex EUR Futures, SPDR Gold Trust ETF (GLD)
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: The Technical Picture Is Improving Rapidly
Related: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Market Vectors Gold Miners ETF (GDX), Goldcorp (GG), NovaGold (NG)
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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