{"id":58821,"date":"2021-07-30T07:48:23","date_gmt":"2021-07-30T12:48:23","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58821"},"modified":"2021-07-30T07:48:23","modified_gmt":"2021-07-30T12:48:23","slug":"peter-schiff-its-game-over-if-the-markets-call-the-feds-bluff","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58821","title":{"rendered":"Peter Schiff: It\u2019s Game Over if the Markets Call the Fed\u2019s Bluff"},"content":{"rendered":"<h3><a href=\"https:\/\/schiffgold.com\/peters-podcast\/peter-schiff-its-game-over-if-the-markets-call-the-feds-bluff\/\">Peter Schiff: It\u2019s Game Over if the Markets Call the Fed\u2019s Bluff<\/a><\/h3>\n<div class=\"blog-big-photo\"><a class=\"prettyphoto\" title=\"Peter Schiff: It\u2019s Game Over if the Markets Call the Fed\u2019s Bluff\" href=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/07\/game-over-3862774_1280.jpg\" rel=\"prettyPhoto\"><img decoding=\"async\" class=\"blog-featured-big-photo lazyloaded\" src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/07\/game-over-3862774_1280-1024x576.jpg\" alt=\"\" width=\"100%\" data-src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/07\/game-over-3862774_1280-1024x576.jpg\" \/><\/a><\/div>\n<p>The Federal Reserve insists inflation is \u201ctransitory\u201d and the economy is making \u201cprogress.\u201d Yet, it continues with the extraordinary monetary policy it launched at the onset of the COVID-19 pandemic. Meanwhile, we\u2019re seeing all kinds of data hinting that the economy may not be as great as advertised. Despite this, and even as prices continue to spiral higher, the Fed\u2019s only monetary policy is talk. Peter breaks it all down on his podcast and drills down to the key question: what happens if the markets call the Fed\u2019s bluff?<span id=\"more-28749\"><\/span><\/p>\n<p><iframe loading=\"lazy\" class=\" lazyloaded\" title=\"YouTube video player\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-src=\"https:\/\/www.youtube.com\/embed\/-8fTTXh75l0\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>The\u00a0<a href=\"https:\/\/schiffgold.com\/commentaries\/a-whole-lot-of-talk-no-action-at-the-latest-fed-meeting\/\">July Federal Reserve meeting<\/a>\u00a0took center stage this week, but there was a lot of economic data that got lost in the shuffle. Peter said the data \u201creally evidences the stagflationary environment that we\u2019re in.\u201d<\/p>\n<p>On Wednesday, the\u00a0<a href=\"https:\/\/www.marketwatch.com\/story\/u-s-trade-deficit-in-goods-climbs-3-5-in-june-and-hits-another-record-high-11627476155\" target=\"_blank\" rel=\"noopener noreferrer\">trade deficit in goods data<\/a>\u00a0came out. It exceeded the high end of estimates and set another record high, rising 3.5% to $91.2 billion. Peter said he doesn\u2019t think this record will last long.<\/p>\n<blockquote><p>These records are going to fall like dominoes. And this is not happening because we have a strong economy. It\u2019s happening because we have a weak economy.\u201d<\/p><\/blockquote>\n<p>A lot of mainstream pundits keep looking at these numbers as if they somehow reflect strength because Americans are buying so much stuff. But as Peter pointed out, the strength of an economy isn\u2019t measured by what you buy but by what you produce.<\/p>\n<blockquote><p>Strong economies produce more. They don\u2019t simply consume more. We are consuming more despite the fact that our economy is weak. How are we doing that? Well, the Fed is printing money and we are spending it. But that does not constitute strength. That really evidences profound weakness.\u201d<\/p><\/blockquote>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: It\u2019s Game Over if the Markets Call the Fed\u2019s Bluff The Federal Reserve insists inflation is \u201ctransitory\u201d and the economy is making \u201cprogress.\u201d Yet, it continues with the extraordinary monetary policy it launched at the onset of the COVID-19 pandemic. Meanwhile, we\u2019re seeing all kinds of data hinting that the economy may not [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1849,426,534,607,963,18779,3650],"class_list":["post-58821","post","type-post","status-publish","format-standard","hentry","category-economics","tag-financial-markets","tag-inflation","tag-monetary-policy","tag-pandemic","tag-peter-schiff","tag-schiffgold","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58821"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58821\/revisions"}],"predecessor-version":[{"id":58822,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58821\/revisions\/58822"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}