Tuesday, January 14, 2014

Jobs Report: Wall Street Does Not Believe The Numbers

Most people on Wall Street don`t believe these numbers. They are arguing they are an aberration, that we should ignore them, that it is an outlier, that is inconsistent with the data. The truth is, its very consistent. We have been getting mixed data. Everybody is looking at the economic glass as being half full. They are ignoring the bad data but the reality is whatever good data we have, is a direct result of the quantitative easing that the Federal Reserve is now threatening to taper.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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