Do you know about - Peter Schiff Video Blog - January 28, 2011
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Peter Schiff Video Blog - January 28, 2011 Video Clips. Duration : 9.93 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Federal Reserve Interest Rates . For the latest Peter Schiff, go to PeterSchiffBlog.com - This Peter Schiff video blog comes from the home studio where the radio show is usually taped. It was a busy day in the markets. The Dow was down more than 160 points and the Nasdaq was down 70 points. Gold, silver, and oil were all up. The dollar didn't do too bad because the Euro was extremely weak. This was the main reason for the surge in gold. There were bad numbers from Ford, Amazon, and Microsoft. The GDP numbers weren't as good as the market was expecting. A large part of the GDP came from consumer spending. Consumer spending isn't economic growth, especially if it is done with borrowed money. It doesn't even make sense that consumer spending would be so high since people are out of jobs. In order to believe that the GDP is growing at 3.2%, you also have to believe the government's inflation number, which assumes a quarter of a percent growth per year. Japan was just downgraded by the S&P credit agency. This gives them a much lower credit rating than the United States. This doesn't make sense, because the United States owes Japan 1 trillion dollars. How can it be that the creditor has a lower credit rating than the debtor? It is possible that Japan's rating should have been downgraded, but not lower than the United States. S&P also says that the United States has a higher credit rating than China. The S&P ratings are a joke. They missed the subprime market completely, and now they are missing the biggest ...