The economy is not driven by spending, its driven by savings and production, which we do not have. But you can keep the bubble going with the spending and people do not really make a distinction between a bubble economy and a genuine economy. Just as long as the bubble can keep inflating, that is all everybody really cares about. And the evidence of that is the fact that they are still spending.
Related stocks: Ford (F), General Motors (GM), Tesla (TSLA)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Dec 12, 2014
Dec 11, 2014
A Sharp Oil Reversal
I think this oil decline is temporary. It is a market driven phenomenon, it is technical and again it has to do with the anticipation of a tighter Federal Reserve and a strong dollar. The dollar has strengthened but the Federal Reserve has not tightened and I do not believe it is going to tighten because I think the recovery is a mirage.
And as more people figure this out in 2015, and the dollar trade reverses, I think you are going to see a sharp reversal in oil as well.
Related stocks: Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP), Schlumberger (SLB), Halliburton (HAL), Chevron (CVX), Diamond Offshore Drilling (DO)
Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)
Topics: WTI Crude, U.S. Dollar, technical analysis, market dynamics.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
And as more people figure this out in 2015, and the dollar trade reverses, I think you are going to see a sharp reversal in oil as well.
Related stocks: Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP), Schlumberger (SLB), Halliburton (HAL), Chevron (CVX), Diamond Offshore Drilling (DO)
Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)
Topics: WTI Crude, U.S. Dollar, technical analysis, market dynamics.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Dec 10, 2014
Stock Market: No Sure Bets
Related trading instruments: SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Energy Select Sector SPDR ETF (XLE), Select Sector Financial Select Sector SPDR ETF (XLF), 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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