GDP came in at 2.1% which everyone seems to be really happy with, but Peter breaks the numbers down and you can see that it's not as good as it seems. ( i.e. Govt spending up 5%, non defense spending up 15.9% the highest in 21 years.)
Corporate operating profits peaked in Q3 2014 and have been going sideways ever since. (Operating profits are an indicator of business potential profitability with extraneous factors removed.)
Trade deficits are bigger than ever. We simply spend more borrowed money.
Even though we may not agree with his position on the crypto space, I believe his views on the federal reserve, QE, interest rate manipulation, and the damage these have done to the economy are spot on.
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SOURCE:
http://www.SchiffRadio.com
http://www.SchiffGold.com/news
https://www.Goldmoney.com/
I am not affiliated with Peter Schiff, and am posting his podcast and his podcast notes to further raise awareness about his view of where the markets are, and where they may be heading.
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Also I would like to hear your take on what he had to say. Please comment.
