| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Peter Schiff: Free Falling Financials, the U.S. Dollar, Boeing, Dot-Coms and More!
In the following video, Peter Schiff begins by discussing his predictions for Gold. He reminds listeners that just the other day on CNBC futures how when gold was at $1,190 or so, he forecasted that as soon as gold broke $1,200 an ounce, it was his belief it would be at $1,300 in no time. Sure enough, a day or so later, gold is already at $1,250 an ounce.
The stock market is of course a mirror image of what we see in gold. At one point, even later in the day yesterday, the market was down over 400 points, with financial stocks leading the way. Outside the financials, the stock taking the biggest beating was Boeing, at one point trading down over 12% intraday. The word is, the SEC is going to be starting an investigation into some shady accounting practices, and also Boeing has reported that massive layoffs are coming in an effort to stave off higher costs of production.
As Peter points out, this is par for the course in Obama’s non-existent bogus recovery. People at Boeing, most of whom are high earners and earn a great living, (the ones they’ll be getting rid of anyway), for the most part all have great benefits, paid vacation, sick time, etc, and to survive getting cut, those people will be forced to get THREE part time jobs just trying to cover even PART of what they were making at Boeing, and naturally none of those part time jobs will have benefits, or offer near the healthcare coverage the employees has while at Boeing.
How will that affect Obama’s Bullsh** recovery? Think about it! Losing ONE job, then creating THREE (assuming the person can find three part-time jobs), it looks great on paper, which is how Obama wants it… forget the fact that families are starving and 100,000,000 Americans are out of work. As long as Obama can keep fudging the numbers long enough, he’ll walk out of office and blame all this on the next person. This is PRECISELY why we’ve heard about a recovery for seven years, yet no one is recovering. Everyone’s financial situation keeps getting worse.
Next, Peter gets into the lunacy being perpetrated by the Fed. Most sane economists recognize the economy is in SUCH bad shape, that no one is even talking about putting rates back at zero. This after Peter warned not to dare raise rates. The talk of the Fed has skipped right over returning to zero interests, and going straight to negative rates. With all the talk about problems overseas, Peter points out no one is seven asking the question, “Why has no one stopped to ask if the U.S. economy is going down because there is a problem with OUR economy?” After all, since the Fed raised rates, by 1/4 of 1%, the NASDAQ alone is down 19%. A few more days and we’ll officially in Bear territory. Does that remotely sound like a strong economy? We’re not talking about 1.5% raise in rates that caused this ether. 1/4 of 1% was all.
As for negative interest rates, why would ANY bank offer negative interest rates? Right now there are 21 central banks (owned by the Rothschild’s incidentally) that are doing just that! Here in the U.S., once the most powerful economy on Earth, working capital is being forced to hide. It’s hiding in banks. In other words, so much money is coming into banks for safe haven because of the horrendous economic policy by this administration, that banks cannot make enough money anywhere to support the level of assets on their books. Normally that money would be lent out to businesses looking to grow and invest in capital, but this administration has strangled businesses to death, so the very few businesses that even meet the credit worthiness standards attempt to borrow money. The Fed is like a ship without a rudder, and the U.S. has lost all concept of what capitalism and liberty. We are a country that has TOTALLY lost its way.
The fact is, the Obama administration would rather lie and gain cheap political points, than actually help any of the struggling American people, and that would start by telling the truth, something that Obama’s will NEVER do. Listen to the rest of Peter’s dire forecast, and then afterward, Michael Snyder explains it’s not just financials, it’s not just the Dollar, and it’s not just Boeing that are taking a nosedive. The Dot.com Bubble 2.0 is here too!
SUBSCRIBE TO THE TOP STORIES OF THE WEEK IN THE NEWSLETTER HERE
FOR MORE NEWS BY VOICE OF REASON CLICK HERE!
Do you remember how much stocks went down when the first dot-com bubble burst? Well, it is happening again, and tech stocks are already down more than half a trillion dollars since the middle of 2015. On Friday, the tech-heavy NASDAQ dropped to its lowest level in more than 15 months, and it has now fallen more than 16 percent from the peak of the market. But of course some of the biggest names have fallen much more than that. Netflix is down 37 percent, Yahoo is down 39 percent, LinkedIn is down 60 percent, and Twitter is down more than 70 percent. If you go back through my previous articles, you will find that I specifically warned about Twitter again and again. Irrational financial bubbles like this always burst eventually, and many investors that got in at the very top are now losing extraordinary amounts of money.
On Friday, tech stocks got absolutely slammed as the bursting of dot-com bubble 2.0 accelerated once again. The following is how CNBC summarized the carnage…
The NASDAQ composite fell 3.25 percent, as Apple and the iShares Nasdaq Biotechnology ETF (IBB) dropped 2.67 percent and 3.19 percent, respectively.
Also weighing on the index were Amazon and Facebook, which closed down 6.36 percent and 5.81 percent, respectively.
LinkedIn shares also tanked 43.63 percent after posting weak guidance on their quarterly results.
Overall, LinkedIn is now down a total of 60 percent from the peak of the market. But they are far from the only ones that have already seen their bubble burst.
Many of the biggest names in the tech world have gotten mercilessly hammered over the past six months of so. Just look at some of the famous brands that have already lost between 20 and 40 percent of their market caps…
Yahoo (YHOO) shares are off 39%, and Netflix (NFLX), the best-performing stock in the S&P 500 last year, is now off by 37% from its 52-week high.
Likewise, Priceline.com (PCLN) is off 31% and eBay (EBAY), 22%.
But there are other very big tech companies that have seen stock collapses that completely dwarf those numbers. Here are some more absolutely stunning statistics from USA Today…
Twitter and Groupon are the biggest dogs of this boom, both off 70% from 52-week highs and well below their IPO prices.
FitBit shares have collapsed 70%, while Yelp’s valuation has shrunk by two-thirds.
Box, which has the distinction of posting quarterly net losses in excess of revenue, is down by half.
Match.com, the holding company for dating sites owned by parent Interactive Corp. that went public late last year, is down 39% from its high.
When your stock loses 70 percent of its value, that is a complete and utter collapse.
FACEBOOK | GOOGLE+ | TWITTER | PINTEREST | STUMBLE UPON | TUMBLER
In the past, I have specifically singled out Twitter, Yelp and LinkedIn as tech stocks that were irrationally priced.
Hopefully people listened to those warnings and got out while the getting was good.
At the top of this article, I mentioned that tech stocks have already fallen in value by more than 500 billion dollars. The financial crisis that began in the middle of last year is now greatly accelerating, and Wall Street is starting to panic.
As stocks crash, many hedge funds are being absolutely pummeled. The following are just a few of the high profile names that are experiencing massive losses right now…
Some of the biggest names to get trounced include:
Pershing Square Capital Management, the publicly traded investment vehicle of billionaire hedgie Bill Ackman, fell 11% last month following a 20% decline last year, data from the web site shows.
Larry Robbins’ Glenview Capital, famous for picking stocks that could benefit from Obamacare, dropped 13.65% in January following a decline of 18% last year, according to data from HSBC’s Hedge Weekly report, a copy of which was obtained by USA TODAY.
Marcato International, a well-known activist fund run by Ackman protege Mick McGuire, fell 12.1% last month following a 9% loss last year, according to HSBC.
When you lose more than 10 percent of your money in a single month, that is not good.
And if I am right, this is just the beginning of our troubles.
And of course I am far from the only one warning that big problems are on the horizon. In fact, analysts at Citigroup just made international headlines by warning that the global economy was now trapped in a “death spiral”…
Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S.
“The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday.
“Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global growth)… and repeat. Ad infinitum, this would lead to Oilmageddon, a ‘significant and synchronized’ global recession and a proper modern-day equity bear market.”
Signs of a significant economic downturn are all around us, and so many of the exact same patterns that played out during the last two stock market crashes are happening again, and yet most people continue to refuse to acknowledge what is taking place.
If you are waiting for this new dot-com bubble to crash, you can stop waiting, because it has already happened.
When your stock falls by 50, 60 or 70 percent, the game is already over.
But just like 2001 and 2008, many people out there will end up being paralyzed by indecision. Once again the mainstream media is insisting that there is no reason for panic and that everything will be just fine, and once again millions upon millions of ordinary Americans will be wiped out as the financial markets implode.
This is now the third time this has happened since the turn of the century.
How clueless have we become? The exact same thing keeps happening to us over and over and yet we still don’t get it.
Only this time around there isn’t going to be any sort of a “recovery” afterwards.
This is essentially our “third strike”, and the years ahead are going to be extremely bitter and painful for most people.
But if you want to believe that one of these politicians is going to come along and save America, you go ahead and keep on believing that.
Most people believe what they want to believe, and the capacity that many Americans have demonstrated for self-delusion is absolutely remarkable.
SUBSCRIBE TO THE TOP STORIES OF THE WEEK IN THE NEWSLETTER HERE
FOR MORE NEWS BY VOICE OF REASON CLICK HERE!
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
Jim Willie: Global Banking Cabal and Their Satanic Rules Are Ready to Strike
Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives
Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States
Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions
Jim Willie, the Crumbling Global Economy, and the Dollar Crisis
Jim Willie: What Do the Oil Black Market, NATO, and ISIS Have in Common?
Jim Willie; One on One -Taking Questions On the Most Pressing Matters of the Day
Jim Willie: The Fed, Yellen, US Dollar, and Negative Interest Are a Joke!
Jim Willie Explains U.S. Nuclear Threats to China & Russia Over Challenging the Dollar
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now
Peter Schiff: 2015 Was The Worst Year Since 2008 and Stocks Still Dropping
Peter Schiff: Janet Yellen Strayed From Her Own Plan and Went Nuts!
Peter Schiff: Higher Spending During Holidays Does Not Fix Screwed Economy
Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”
Peter Schiff: Take a Good Look at the “New” American Dream!
Peter Schiff: Did the Fed’s Luck Run Out On Friday the 13th?
Peter Schiff and “The 4 Harbingers Of Stock Market Doom”
Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead
Peter Schiff: Warning! Economic Storm Clouds Ready to Rain
Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options
Peter Schiff: 11 Trillion In Global Stock Losses and Awful Jobs Report
Resolution Drafted For Obama Impeachment Consists of 48 Criminal Charges
Obama Caught Smuggling In Up To 100,000 Refugees Per Year on UPS Planes!
Four-Star Navy Admiral Blasts Obama For Treason, and Reveals Obama’s Plans
Top Obama Appointee: “President Knowingly and Willingly Armed ISIS”
Former FBI Assistant Director Risks His Life – Just Exposed Obama In Huge Way!
The Proof You’ve Wanted Regarding Obama’s Treason
Former CIA Director Unloads, Then Issues Severe Warning About Obama
| THE VOICE OF REASON: | |
| Website: | https://thelastgreatstand.com/ |
| Facebook: | https://www.facebook.com/LastGreatStand |
| Google + | https://plus.google.com/+Thelastgreatstandconspirator/posts |
| https://twitter.com/#!/LastGreatStand | |
| Seen.Life | http://www.seen.life/profile/21900069-voice-of-reason |
| Grassfire | http://grassfire.com/users/voiceofreason/profile/ |
| Tea Party Community | https://www.teapartycommunity.com/profile-151600/ |
| Right.IS | http://right.is/contributor/pages/351/169/bio.html |
FACEBOOK | GOOGLE+ | TWITTER | PINTEREST | STUMBLE UPON | TUMBLER
DONATIONS ACCEPTED VIA PAYPAL TO GET THE RADIO SHOW UP AND RUNNING…
GO TO: WWW.THELASTGREATSTAND.COM TO MAKE A SMALL DONATION
COMING SOON TO INTERNET RADIO!
STAY TUNED!
FACEBOOK | GOOGLE+ | TWITTER | PINTEREST | STUMBLE UPON | TUMBLER
Big Bank A ~ Abba King