Interest Rates Outlook
Peter Schiff on Fox Business – Interest Rates & Economy bull and bear debate.
Its amazing Dow is down right now again hovering between 15,900-16,500 when just two weeks to a month ago it was just under 18,000. I think Peter has hit the nail right on the head. My friend got hired a few months back at Lowes and was fired a week BEFORE Christmas. They said it was just seasonal. That really got my attention because you would think in a healthy growing economy you would need the extra labor throughout the holidays and even perhaps a week or two maybe even a month after with all the orders and packages …. guess not!
I think there is a hope among the freedom promoting , libertarian types, that if the economy collapses, the people will finally come to their senses and place the blame on government intervention. In that narrative, the Keynesians have failed and the free market makes a come back.
Unfortunately, the modern American is nothing like the self reliant types that built this country. 1 in 5 are on food stamps, 50% of households are collecting some type of government assistance. If Peter Schiff is correct and we are about to go through an economic collapse bigger than 2008, then Americans are going to scream for the government to step in and take control. And they will. “Never let a good crisis go to waste” as they say.
How can anyone say the economy and the markets are alright with .25% interest? If anything, the market is moderate with “pockets of horrible” mixed with “pockets of greatness”. Plus, its really impossible to judge where we would be if the Fed was not involved, whether that be better or worse..
Some say that real unemployment in parts of California is around 26%. You must realize how the Gov calculates. They don’t count the unemployed that UE benefits end, and they are left out in the cold. They don’t count the UE that give up and stay home, if they have a home to stay in. They don’t count the UE that do odd jobs for a few bucks. So, actually when more people run out of their unemployment benefits the government calculated unemployment rate improves! I’m sure the people who ran out of their unemployment benefits don’t think that the economy has improved for them!
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