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Peter Schiff Obliterates Donald Trump's Economy On Fox Business

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posted on Aug, 17 2018 @ 07:39 PM
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a reply to: toysforadults

I have, it all ends with “ buy my gold and silver, it’s safe” praying on the old and stupid
edit on 17-8-2018 by avgguy because: (no reason given)




posted on Aug, 17 2018 @ 07:40 PM
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a reply to: toysforadults


that's probably why everyone is doing everything on credit (Peter talks about this all the time)


That's been going on forever too, but I don't know what that has to do with Trump.



posted on Aug, 17 2018 @ 07:40 PM
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This is the man that tries to get you to buy gold instead of treasury notes. Every other week there is some crisis and you need to buy gold before the economy crashes. Im sure its just a coincidence that he has a company that sells gold and loves to put that on his pages. So in case you believe him on a collapsing economy hr can make money on trading gold.



posted on Aug, 17 2018 @ 07:40 PM
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a reply to: avgguy

never knew having gold as an asset was stupid, that's news to probably the entire planet



posted on Aug, 17 2018 @ 07:44 PM
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a reply to: toysforadults

You must be new to investing. This lesson is free

www.google.com...



posted on Aug, 17 2018 @ 07:51 PM
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a reply to: avgguy

I am feeling altruistic, here’s a free one,too, on me: Buffett Signals



posted on Aug, 17 2018 @ 07:52 PM
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Make no mistake the democrats are running against the Trump economy, they're desperate and short of hoping, wishing and maybe praying for economic chaos, recession or collapse the only thing they can do is try to spin it negatively.

So far that's all they're doing. Who knows what they might do if things keep getting better for ALL Americans?

Be afraid, very!




posted on Aug, 17 2018 @ 07:55 PM
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originally posted by: avgguy
a reply to: toysforadults

You must be new to investing. This lesson is free

www.google.com...


google for investment info. lol Your link doesn't work anyway.

It's all speculation anyway and if you don't know someone, you might as well play the slots or for the people that use google, perhaps Keno it's nice and simple.
edit on 17-8-2018 by olaru12 because: (no reason given)



posted on Aug, 17 2018 @ 07:56 PM
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Is Peter Schiff Full of It?


If you don’t know who Peter Schiff is, feel free to stop here and continue your life blissfully ignorant of his place in the investing and macroeconomics landscape.


Schiff (or “Doctor Doom” as he is often called) has never strayed far from proclamations of catastrophe. In late 2008, it was China was going to destroy American currency through debt reclamation. In 2011 and 2012 it was hyperinflation and the dissolution of the value of the US Dollar. More recently (for almost ten years now) Schiff has predicted an intense bear market during which time gold prices would rise to $5,000 per ounce. This last figure has gone on the record over and over, but gold prices remain, usually, less than $1500.

Why You Should Tune Out Doctor Doom and Those Like Him
It’s not that Peter Schiff is wrong about everything, it’s that in getting so much wrong, regular readers and listeners are bound to get led astray. Schiff’s politics inform his financial predictions, and not vice versa. Like many of that ilk, for better or worse, Schiff is big on gold, hates the Fed, and a constant critic of American currency. He’s repeatedly denounced Bitcoin and other cryptocurrencies (even as they have far outpaced gold in returns to people that own them). The best you could say about Peter Schiff is that he’s overly cautious. Less gracious analysts would call him a conspiracy theorist.


Well, if you want a bunch of financial doom porn books he would like you to buy them all I'm sure. I don't think anyone takes him seriously.



posted on Aug, 17 2018 @ 07:58 PM
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does he mean for the rest of 2018 as it was 2.1 for first quarter and 4.1 for second quarter with most sources citing around 3% for the next quarter

www.npr.org...

www.kiplinger.com...

www.bea.gov...

www.cbsnews.com... cbs says it looks like 4 %

You're going to get a GDP number on Friday that's going to be a very impressive number. Some people are in the 4 to 5 percent zone," Larry Kudlow, the White House economic adviser, told CBS This Morning. Whether such robust growth is sustainable is another question. Here's what turbocharged the economy in the second quarter. GOP tax cuts The second-quarter figure will be widely seen as a referendum on the GOP tax cuts of late 2017. This quarter benefits from a timing sweet spot, coming after the deficit-busting cuts trickled through the economy, but before the effects of the White House's protectionist trade policies are fully felt. GDP likely got a big boost from the additional tax-cut money going to both companies and consumers, economists say. "When you drop taxes and increase spending, even if some of it is saved rather than spent, it boosts growth," said Jim O'Sullivan, chief economist at High Frequency Economics. "Ultimately, that boost won't last forever, and of course you've added to the government debt. But there's no question that it's stimulative." The tax cuts' cornerstone was a permanent reduction in business tax rates, giving corporate profits an instant boost on paper. They would have been solid by mid-April, when corporations' first-quarter tax payments are due. Many workers, too, saw slightly larger paychecks in February or March, with higher-earning workers reaping bigger benefits.


tradingeconomics.com... this link tracks growth rate from 1947-2018 showing that growth is at its highest since 2014

www.housingwire.com... this link says possibly 5% growth projected

www.thebalance.com...

The U.S. economic outlook is healthy according to the key economic indicators. The most critical indicator is the gross domestic product, which measures the nation's production output. The GDP growth rate is expected to remain between the 2 percent to 3 percent ideal range. Unemployment is forecast to continue at the natural rate. There isn't too much inflation or deflation. That's a Goldilocks economy. President Trump promised to increase economic growth to 4 percent. That's faster than is healthy. Growth at that pace leads to an overconfident irrational exuberance. That creates a boom that leads to a damaging bust. The factors that cause these changes in the business cycle are supply, demand, capital availability, and the market’s perception of the economic future.
so this one gives some form of caution

www.cbo.gov... Congressional budget office take on the matter

In 2018, real GDP is projected to grow by 3.1 percent. That is about 0.6 percentage points faster than the pace of its growth in 2017 (see figure below). The pickup in growth is largely the result of increases in government spending, reductions in taxes, and faster growth in private investment. For the second half of the year, CBO expects real GDP to grow at roughly the same average pace as it grew in the first half of the year, which would represent a moderation following the 4.1 percent annualized growth of GDP reported in the second quarter. Such moderation occurs because several factors that boosted second-quarter growth— including a rebound in the growth of consumer spending from a weak first quarter and a surge in agricultural exports—are expected to either fade or reverse. In 2019, the pace of GDP growth slows to 2.4 percent in the agency’s forecast as growth in business investment and government purchases slows. Growth of actual output is expected to outpace the growth of its maximum sustainable amount through the rest of 2018 and 2019, creating excess demand in the economy. Although that growth in actual output leads to lower unemployment rates and higher income in CBO’s forecast, it also creates demand for goods, services, and labor that exceeds the economy’s long-run capacity to supply them. Excess demand will put upward pressure on prices, wages, and interest rates over the next few years. In CBO’s forecast, the growth of actual output slows markedly after 2019 because higher interest rates, along with the slower growth of federal outlays projected under current law, restrain demand. As the excess demand dissipates, the unemployment rate rises and inflation and interest rates fall. By 2022, the excess demand in the economy disappears. From 2023 to 2028, real GDP is projected to grow by about 1.7 percent each year. That is slightly slower than potential output grows, on average. (Potential output is CBO’s estimate of the maximum sustainable output of the economy.) The difference between actual and potential output arises because of a slight, temporary slowdown in the growth of actual output from 2025 to 2026, when some of the major provisions of the 2017 tax act (Public Law 115-97, originally called the Tax Cuts and Jobs Act) are scheduled to expire.
not my area of expertise but it seems to show it peaking at around 2019 then leveling off for a while



posted on Aug, 17 2018 @ 07:59 PM
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a reply to: BeefNoMeat

Man must be the bed of times if buffet is selling a drywall company. Why not bnsf is things are getting bad



posted on Aug, 17 2018 @ 08:02 PM
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a reply to: RalagaNarHallas




not my area of expertise but it seems to show it peaking at around 2019 then leveling off for a while



Right, Tariffs and a trickle down economy...what could possibly go wrong?



posted on Aug, 17 2018 @ 08:02 PM
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originally posted by: BeefNoMeat
a reply to: avgguy

I am feeling altruistic, here’s a free one,too, on me: Buffett Signals


Were you aware hathaway is on a huge buying spree. Your economist apparently missed things like them buying 250 million shares of Apple.

Anyone exposing buying gold is trying to make money off you. It doesn't help you financially any more than having money in your checking account. If your going to tie up your investment Capitol in gold you are a fool. At least buy bonds they are safe and you earn money while they borrow it.



posted on Aug, 17 2018 @ 08:03 PM
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a reply to: Southern Guardian

So when you agree he's right and wrong when you don't.



posted on Aug, 17 2018 @ 08:04 PM
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a reply to: ausername

www.realclearpolitics.com... this link pretty much backs up your comments to a T

Democratic campaign operatives have acknowledged that running against Donald Trump and the White House controversy du jour -- at the expense of more substantive policy issues -- could weaken their advantages heading into November’s midterms. And complicating their case further are signs of economic improvement, including recent labor statistics showing national unemployment at a near-20-year low of 3.9 percent. Democrats point to polling and other data to argue that -- despite voters feeling better about the economy -- there is still anxiety about the future and that Democratic policies would provide more financial security in the long run. Party congressional campaigns are pushing, for example, the message that the GOP tax bill gave away more to corporations than to average Americans. But efforts to explain the party’s plan to “revisit” the tax law if elected to the House majority underscore the difficult question Democrats are trying to answer: How do you talk about the economy when the economy is good? “Every time [Democrats] deny the economy is starting to turn or get better for certain parts of the population, they also hurt themselves,” says party strategist Hank Sheinkopf. “They appear to be cheering on bad news.”


www.newyorker.com... this one also echos your comments albeit with a slightly less pro trump verbage

Both major parties will be relieved by the results of Tuesday’s primary elections, which took place in eight states. Most candidates endorsed by party leaders prevailed, and in California’s “jungle primary,” in which the top two candidates move on to the general election regardless of party affiliation, Democrats and Republicans narrowly escaped being shut out of key races. As attention switches to November, Donald Trump’s low approval ratings and the history of midterm elections suggest that Democrats are likely to gain ground, particularly in the House. But Republicans are taking comfort in a favorable political map in the Senate, a closing of the gap between the two parties in generic-ballot polling, and—most of all—a buoyant U.S. economy. “The economy is booming, and it’s been fueled by the pro-growth policies of the Trump administration and Republicans in Congress,” the Republican National Committee crowed in a blog post after Friday’s employment report showed that the jobless rate had fallen to 3.8 per cent in May. “In 5 short months, voters will go to the polls and support the party that’s delivering on its promises, not the party of doom and gloom whose sole mission is to resist at every turn.”



posted on Aug, 17 2018 @ 08:05 PM
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originally posted by: avgguy
a reply to: toysforadults

You must be new to investing. This lesson is free

www.google.com...


yeah uhhhh I don't know what you're talking about but owning gold is like owning real estate you just hold onto it for as long as you can

not sure who convinced you gold was a bad investment but whatever maybe learn about how our currency works



posted on Aug, 17 2018 @ 08:07 PM
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a reply to: toysforadults

You put your money in gold I’ll put mine in a Roth.



posted on Aug, 17 2018 @ 08:08 PM
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originally posted by: toysforadults
a reply to: avgguy

never knew having gold as an asset was stupid, that's news to probably the entire planet

If the market really collapses , can one eat precious metals ?
If one comes to me afterwards and asks "how much you want for a bushel of corn ?" they better have something I can use.....
Gold at that time would be as worthless as "bottle caps"




posted on Aug, 17 2018 @ 08:11 PM
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a reply to: Southern Guardian


Except for those pesky facts that get in the way of his bogus statements like this fact:

www.cnbc.com...


"Gross domestic product grew at a solid 4.1 percent pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber."

And Schiff said it will not exceed 3%? Does he even pay attention.


NEXT!!!



posted on Aug, 17 2018 @ 08:15 PM
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a reply to: Gothmog

I don't think there's going to be a total collapse, gold will go up it's pretty much a guarantee, it was rise with inflation and the money you put into it will have the same amount of purchasing power it did when you put it in

anyway who cares right? I hate Schiff so gold is bad!!!



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