The Fed Is Spitting into the Wind
"The Fed needs to make interest rates positive to do anything to bend the curve. They have to get rates above the rate of inflation. And until they do that, they’re spitting in the wind.”
(They cant because they know what happens at 4.25-4.5%. We default on the interest payment on the national debt and every $ will be worth nothing. Last night they were talking about pension funding liabilities etc...I was just sitting there shaking my head thinking..."It's a bout to be the least of your worries". Hey don't have any $? Guess what? Even the people that do are about to not have any, so relax, were all gonna be in the same boat here soon.).
Northwestern Mutual Wealth Management CIO Brent Schutte also appeared on the show. He said he thinks the bottom for the markets is in and that the forward-looking data points to lower inflation.
Peter said it is possible that the market will bottom when inflation peaks.
"Unfortunately, we’re years and years away from a peak of inflation. This is not 1980. This is more like 1970. This is just getting started.”
(WTF is wrong with these people?
"Northwestern Mutual Wealth Management CIO Brent Schutte said he thinks the bottom for the markets is in and that the forward-looking data points to lower inflation."
What do these people think is going to happen when the SPR drawdown stops?
False prophets of economics anybody? Nobody is looking at things through the correct (biblical) lenses. Keep giving us your $ to invest, everything's gonna be okay etc. These people arent even old rnough to remember any of this the last time around (late 70's) theyve come of age with artificially low interest rates, they dont understand anything else, it has skewed their thinking.)
"Liz asked Peter what he was buying at this point. Peter said he’s buying the same things he’s been buying to prepare for this inflation."
"It didn’t just start now. The Fed sold the nation’s soul to the inflation devil back in 2008 when it did QE. And so now the devil is back to collect.”
Woe's #1 and #2 listed right there IMHO. We did what we had to do to get through the financial crisis and now our hands are tied, we are in a corner that there is not a way out of. I'd get my heart soul and mind ready for it if I was you.)
"As it has with every new round of hot inflation news, gold sold off in the aftermath of the CPI data release. Peter said investors still don’t understand that the Fed is going to lose this inflation fight and that the economy is not only in a recession, but heading toward another financial crisis."
(Think world wide economic collapse, not crisis and you're starting to get it.)
"The Fed, despite rising inflation, is ultimately going to try to stimulate the economy. And so, we’re going to have the combination of a massive recession or depression with a financial crisis and rising inflation. So, all of this is bullish for gold. It’s bearish for the dollar. So, my advice to your viewers is to tune out all the noise about how the Fed is going to succeed and how it’s going to bring inflation back down to 2%, and you better invest as if the Fed is going to fail, not succeed. This is not 1980. Powell is not Paul Volker. You’ve got to do the opposite of what worked in the 1980s. You’ve got to do what worked in the 70s, and that is getting out of US stocks, getting out of US bonds, and getting into commodities, foreign assets and gold.”
That sounds like what is good for your financial advisors pockets?
"getting out of US stocks, getting out of US bonds, and getting into commodities, foreign assets and gold.”
Maybe there is a reason they keep preaching peace and prosperity?
Maybe it has to do with lining their own pockets?
(And I know Mr. Schiff is a gold broker blah blah blah...It doesn't mean he isn't right."
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