Christmas Sales: The Worst Since 2009

Look at the Christmas sales. They have been the worst since 2009. I think a lot of the retailers made a mistake. They believed the hype, just like the investors and the economists. They loaded up on inventories coming into the Christmas season. That is why we got a 4 handle on the third quarter GDP. But I think they are finding out that a lot of Americans just don`t have any money to buy stuff. They are spending too much energy and food, they have lots of debt and lousy jobs. So, I think we are going to see some record sales following Christmas in the New Year. Not sales in selling, but declines in prices for sale.

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

China`s Currency Is Likely To Appreciate in 2014

I think China is very likely to see an appreciation of their currency in 2014. That is going to a good thing for chinese wage earners, for chinese consumers who are going to make a better deal on the things they need to buy. Its not going to play out so well over here because as the chinese currency becomes more valuable, their goods become more expensive and americans already have a hard time buying stuff. Look at the Christmas sales. they have been the worst since 2009.

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 Big Story Will Be China`s Tapering

The big story is going to be the tapering out of the emerging economies, the tapering out of China. I think China really wants to back down on its U.S. Treasuries purchases, maybe even start unwinding, actually shrinking its balance sheet. And if emerging markets are selling Treasuries  if investors are selling, who is left to buy? The only one left is the Federal Reserve.

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