Stock Market Genius Gives Market Predictions For 2017 Economy (VIDEO)

By: The Voice of Reason |

How should people know they cannot trust the U.S. mainstream media when it comes to giving accurate information about the dire state of the U.S. economy? For starters, look at how dishonest the media was while covering the U.S. presidential election, and everything having to do with politics since.

Next, consider the fact that one of nation’s highest end retailers, Nordstrom’s, sold out nationally this past Christmas on one of their red hot new items: An $85 Pet Rock that came with matching leather pants. Americans were so clueless about the actual state of the economy, they caused a national retailer to sell out of “pet rocks.” Is there any better way to demonstrate a total lack of valuable information?

How do you know you cannot trust Washington when it comes to giving accurate information about the dire state of the U.S. economy? To answer that, consider how few Americans understand the first thing about how the Federal Reserve works, much less have any understanding about how instrumental the Fed has been in creating many of economic problems the country is facing right now.

Next, consider who the Chairman of the Federal Reserve is, and his or her track record of predicting major collapses before they happen. The current Fed Chair is Janet Yellen, an Obama loyalist, and back in 2008 when the housing meltdown was half over and trillions of dollars in American wealth had already evaporated, Janet Yellen hadn’t even declared she had a negative outlook on the economy yet! Enough said?

In the following interview, stock market genius Robert Kudla explains why Americans should be very cautious about the financial markets moving forward. In addition to giving his own personal outlook for the next 6-8 months, Bob also explains not only what he does to protect himself personally from stock market volatility and crashes, but how he actually profits from it, and how you can too.

After the interview, is a video of Peter Schiff appearing on MSNBC’S “Up with Chris Hayes,” along with some of the highlights of that interview. Peter makes several of the same points Bob does about what to expect, and the role the Fed plays in what is not likely to be a very long lived rally like we’ve experienced as of late…

SchiffGold writes:

Peter Schiff appeared on MSNBC’S “Up with Chris Hayes” with a panel of other experts and pundits to debate the Fed’s role in the housing bubble, Republican views on the economy, and the effects of inflation on prices.

Peter had a spirited exchanged with Karl Smith, Economics Professor from the University of Carolina, on the causes of the housing crisis. Smith took the typical stance of blaming complicated investment instruments for creating confusion in the market. Peter countered with the primary cause stemming from a combination of artificially low interest rates and Fannie and Freddie’s role in making cheap mortgages available to too many people who couldn’t afford them.

None of the panel, save Peter, expressed worry about the impact the national debt is having on the ability to raise interest rates, and what low interest rates are doing to the economy. Peter pressed the point that raising interest rates would be a bitter, but necessary, pill to keep us from falling off the fiscal cliff.

“The real fiscal cliff is not this phony one that we’re talking about at the end of the year when the budget deficit might actually come down a little bit. The fiscal cliff is when interest rates skyrocket and the government can’t afford to pay the interest on the enormity of the debt that’s been accumulated the last few years,” Peter said.

Smith lobbed a last shot at Peter asking, “When are we going to have inflation?” For Smith and other ivory tower academics, the impact and existence of real inflation may seem mythical, but for Americans trying to make ends meet, it’s an all too real aspect of their daily lives, something Peter defended in his response: “Have you been to a supermarket lately?” It seems the only inflation liberal economists believe in is the kind expanding their own egos.

Highlights from the show:

“You don’t create economic growth or jobs by printing money, what you do is create bubbles and inflation. You have to remember it was the artificially low interest rates that were the principal cause of the housing bubble, and, therefore, the Fed is to blame for the financial crisis that ensued. Right now we don’t need more cheap money. That is preventing the economy for restructuring along the lines that would actually give us lasting economic growth. We need much higher interest rates. Of course, that’s going to bring on some short-term pain, but unfortunately, we need that to get the long-term gain.”

“There’s more misery if we don’t bite the bullet and we didn’t follow Andrew Carnegie’s advice during the 1920s. Hoover ignored it; he did what Obama’s doing. He did what Roosevelt was doing. That’s why the depression lasted through the end of the Second World War.”

“The real fiscal cliff is not this phony one that we’re talking about at the end of the year when the budget deficit might actually come down a little bit. The fiscal cliff is when interest rates skyrocket and the government can’t afford to pay the interest on the enormity of the debt that’s been accumulated the last few years.”

“Most Republicans don’t understand how bad it’s going to get when the Fed does the right thing after having done the wrong thing for so long. When they finally let interest rates go up, it’s going to be very problematic for a country that is so over-leveraged. Banks are going to fail. The government is going to have to default on a lot of its obligations.”

“I don’t think that people understand the Fed’s role, how instrumental it has been to creating all the macroeconomic problems that are plaguing us right now. By keeping interest rates too low for too long it has screwed up the economy. We don’t save enough. We don’t produce enough. We have too many people working in the service sector, in government, in banking, in retail, and in healthcare and education. Meanwhile, we can produce the things that we need to consume. We have 50 billion dollar a month trade deficits because this economy doesn’t work anymore because all the resources are misallocated. It’s going to be painful to put them back together. But if we don’t do it, we’re going to have a real crash in this country that’s going to make 2008 look like prosperity.”

“Inflation is going to run out of control. It’s going to devastate the economy. The Fed has no tools now to contain it. If they have to raise interest rates in order to fight the inflation Genie that they’ve let out of the bottle, the US government is going to have to default on its bonds. We’re going to have failures in the banking system without any ballot. It’s going to be a much bigger collapse than what happened in ’08.”

“Inflation is going to run out of control. It’s going to devastate the economy. The Fed has no tools now to contain it. If they have to raise interest rates in order to fight the inflation Genie that they’ve let out of the bottle, the US government is going to have to default on its bonds. We’re going to have failures in the banking system without any ballot. It’s going to be a much bigger collapse than what happened in ’08.”

THE VOICE OF REASON is the pen name of Michael DePinto, a graduate of Capital University Law School, and an attorney in Florida. Having worked in the World Trade Center, along with other family and friends, Michael was baptized by fire into the world of politics on September 11, 2001. Michael’s political journey began with tuning in religiously to whatever the talking heads on television had to say, then Michael became a “Tea-Bagging” activist as his liberal friends on the Left would say, volunteering within the Jacksonville local Tea Party, and most recently Michael was sworn in as an attorney. Today, Michael is a major contributor to www.BeforeItsNews.com, he owns and operates www.thelastgreatstand.com, where Michael provides what is often very ‘colorful’ political commentary, ripe with sarcasm, no doubt the result of Michael’s frustration as he feels we are witnessing the end of the American Empire. The topics Michael most often weighs in on are: Martial Law, FEMA Camps, Jade Helm, Economic Issues, Government Corruption, and Government Conspiracy.

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