Recent Economic Data Points To A Recession

Obviously this economy is already back in recession and if its not in a recession its in the cusp of one.

You look at the data that came out, you got Industrial Production unless that came out, they were looking for a bounce, instead we got another true decline, they revised February down, we had big inventories build again this week, retail sales disappointed.

I think its clear that that we could be in a negative GDP quarter now and I think if the first quarter is bad the second quarter is going to be worse because the last couple of years we had a rebound in the second quarter because of very cold winters. Well, this winter was the warmest in 120 years, so there is nothing to rebound from. (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.

Silver Typically Does Even Better Than Gold In Bull Markets

If I am right about a bull market in Gold, there`s got to be a bull market in Silver. I do not think that there has ever been a bull market in Gold that was not accompanied by a bull market is Silver. And typically the Silver market does even better in a bull market than Gold. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Hecla Mining (NL), Market Vectors Gold Miners ETF (GDX), Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX))

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 Stock Market Is Caught Between Opposing Forces

I do not know if the Dow Jones Industrials Index is rising despite the bad economic news or because of the bad news. Because the bad news means the economy is weak and corporate earnings are not going to be there and you have a high multiple. Disappointing earnings are bad for stocks but of course if the economy is weak that takes the Federal Reserve out of the interest rate hiking game and I think puts it in the cutting interest rates and QE4 game and of course that is bullish for stocks. The market is caught between these opposing forces. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

The Stock Market Is Still In Denial

I think the markets are still in denial in respect to the underlying weakness of the U.S. Economy. The reason the markets have rallied off their February lows is because it is apparent and it should have been apparent earlier that the Federal Reserve is not going to be raising interest rates many times if at all in 2016. (SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 Index ETF (SPY), iShares MSCI Emerging Markets Index ETF (EEM))

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

Oil Prices Going Up Is Bad For U.S. Stocks And For The Economy

Oil prices going up instead of going down its going to be a negative to the U.S. Economy. I think the idea that what we need is higher oil prices, when it comes to wishing for higher oil price because you think that is good for the economy and for the stock market, be careful about what you wish for.

In fact, at the rate that own our rig count is collapsing all this oil that we are no longer producing has to be imported and the trade deficit going higher is also a negative for the U.S. Economy. (Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM))

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 U.S. Economic Weakness That Nobody Wants To Accept

We may have one of the weakest economies of the advanced economies, its just that nobody wants to accept that fact yet. (iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), 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.