Economic News March 2016

March – ECONOMIC NEWS – Peter Schiff, CEO and chief global strategist for Euro Pacific Capital, is sounding the alarm bells once again. Schiff correctly warned about collapses in the housing and financial markets that led up to the financial crisis of 2007-08.

His father, Irwin, the son of Jewish immigrants from Poland, served in the US Army during World War II. Irwin was a prominent figure in the US tax protester movement, who died in federal prison in October 2015 while he was serving a sentence of at least 13 years for legal tax evasion. Look whats going on right now- it’s public knowledge how international mighty corporations collectively are evading taxes- but they get bonuses in a polar opposite set of law- meaning there is no #EQUALITY.

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In a recent interview, Schiff warned that as long as the Federal Reserve keeps bluffing that it’s going to raise interest rates, its easy money policies have only delayed an inevitable financial collapse. He went so far to say that there will be a stock market crash if Fed Chair Janet Yellen continues to pretend that the economy is in good shape by raising interest rates. (Source: “Fed Is Trying Everything They Can to Delay the Day of Reckoning,” YouTube, February 12, 2016.) Schiff said that the Federal Reserve waited too long to raise interest rates.

The December 2015 0.25% increase in its target funds rate is the first rate hike since June 2006. As a result, Schiff said that there is “going to be a bigger disaster” in the U.S. economy and stock market than otherwise, had the Fed raised rates earlier. Schiff added that the stock market is already in a bear market and there is only “hot air” beneath it.

Schiff argues that the markets will keep falling until the Fed admits that the U.S.#economy is in trouble. “The problem for the Fed is that they are now in this credibility box.”

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March 2016 – ECONOMIC NEWS, New York – Late-day selling sent U.S. #stocks to a loss Monday and erased nearly all of the market’s gains for the month. Weak earnings for drug companies pushed health care stocks lower, and energy shares fell as natural gas plunged. Investors lost enthusiasm for stocks after two straight weekly gains. #Healthcare stocks fell furthest as drug makers Endo International, Mylan & Mallinckrodt all slumped. #Oilprices rose, but natural gas hit a 17-year low. Banks lost ground, partly because investors are worried about potential losses on loans to energy companies.

The Dow Jones industrial average fell 123.47 points, or 0.7 percent, to 16,516.50. The Standard & Poor’s 500 index fell 15.82 points, or 0.8 percent, to 1,932.23. The Nasdaq composite index fell 32.52 points, or 0.7 percent, to 4,557.95. Monday’s loss pushed the S&P 500 and the Nasdaq to a loss for February, their third monthly loss in a row. “When there is #turmoil in the world, people do come back to gold as sort of that safe port,” he said. The price of #gold rose 1 percent Monday to $1,234.40 an ounce. Over the last two weeks gold has traded near it highest price in a year. Benchmark U.S. crude oil rose 97 cents, or 3 percent, to $33.75 a barrel on the #NewYork Mercantile Exchange. Brent crude, the global benchmark, gained 87 cents, or 2.5 percent, to $35.97 a barrel in London. Natural gas prices skidded 4 percent to $1.71 per 1,000 cubic feet, its lowest level since March of 1999. In a research note, Commodity Weather Group said it expects a “super warm pattern” to start in about a week. That will lead to less demand for heat as the winter comes to a close.

#China‘s government guided the yuan lower. Germany’s DAX slipped 0.2 percent, while the Shanghai Composite Index tumbled 2.9 percent after the yuan’s decline. Stock markets in Europe were helped somewhat by news that inflation across the eurozone turned negative in February as consumer prices fell. The #euro fell because traders expect further monetary stimulus from the European Central Bank at its meeting on March 10. The euro fell to $1.0875 from $1.0928 and the #dollar fell to 112.95 #yen from 113.90 yen

#theglobalmovement

Source: thenatemaxproject.com

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