U.S. Economy, Markets: We May Already Be In A Recession

We may already be in a recession. The Atlanta Fed has already downgraded their forecast for the fourth quarter of last year to just 0.8 percent. And I think by the time we actually get the first estimate on January 29th, we can actually have a negative number for the fourth quarter. And if you look at all the economic data that is coming out, we can easily have a negative first quarter too and then we are in a recession.

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 Stocks: Wall Street Is Still Oblivious To These Bargains

You would think that gold stocks would be up a lot more considering the fact that the cost for these mining companies are plunging because their labor costs are going down because they are in Canadian Dollars or Australian Dollars, their energy costs are collapsing and the revenue is going up.

But Wall Street is still oblivious to these bargains that exist in the mining sector but of course year-to-date the mining stocks are up and that is the only sector in the market that is up and I tell you that no one on Wall Street owns these stocks.

(Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), 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.

The Yen Strength Is Scary For The Markets

The Dollar/Yen (USD/JPY) is really breaking down. And to me that is a very scary proposition for the markets to see this strength coming in the Japanese Yen.

(SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), 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.