Industrial Production: Worst Losing Streak Since 2009

In the Industrial Production (April), this is now the fifth consecutive monthly decline in Industrial Production. This is the longest losing streak that we have had in that data point since 2009. So again, here is another time where you have to go back to the Great Recession to find economic numbers as bad as the ones we are getting right now, supposedly on the doorstep of a Federal Reserve interest rate hike.

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

Is The Stock Market Embracing Bad Economic News?

The markets continue to ignore or maybe they are embracing all the bad economic data that keeps coming out. The S&P 500 Index closed the week at a new all-time high, the Dow Jones Industrials Index just barely off a record high. While the stock market continues to rally, the dollar continues to fall.

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: An Official Recession For The First Half of 2015?

What is more likely to happen is that we get a negative number again for Q2. We can have the second quarter GDP actually contract. And if we get a contraction in the second quarter which follows a contraction in the first quarter, that is an official recession. That would mean the U.S. Economy is in recession for the first half of 2015. If that is the case and that may very well be the case, how is the Federal Reserve going to 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.