Ep. 121: Weak Holiday Sales Confirm the Best Bargain is Gold

The Peter Schiff Show Podcast - Episode 121

[bennalbrecht]

Peter, thank you for sharing that story about your father. Please share others that we can all learn from ! I speak for everyone when I say we enjoy these long podcasts. It's not only economic advice, but more a history lesson that we can learn from most of the things that happened in the "Rear View", and better prepare for what's in the "Windshield"

[TexasGolfer]

Thanks for answering my question via the pod cast. Much appreciated.

[zanderyokum]

Anyone else think Peter Schiff just predicts the end everyday and then says he was right when something bad finally happens?

[natureupclose]

Wow, respect for your father, that´s integrity to the max.

[DelbertStinkfester]

I've made 80% of my Christmas purchases online so far this year.

[RedemptionReady]

The Target in Harrisburg had a dedicated return line on Sunday when I was there. I was picking up two pillows to replace the two the dog decided tasted better than his food. The line was RATHER LONG and had a lot of angry faces.

[bicylindrico]

You the man Peter! Love to hear you ramble.

[LacusTheDestroyer]

From 1963-1966, the price of silver was $1.293/oz. It's $14.10 today, so if your dad had saved his $10, 000 in silver, it'd be worth about $109, 050 today.

At first glance, it seems like he made a good call. However, if he'd taken those coins and instead plowed the entire thing into an basic S&P 500 index fund while reinvesting the dividends over the years, it'd be worth roughly $1.2 million today. More than 10 times the gains! In fact, even if he'd withdrawn every single dividend and spent it on wine and women instead, the shares alone would be worth about $268, 500.

Meanwhile, according to the CPI, something that cost $10, 000 in 1965 costs $75, 504.13 today. So if you believe the CPI understates the cost of living, the silver likely didn't even keep up with inflation. The lesson here is if you want true protection from inflation - a true store of wealth - go for productive assets, not metals that just sit there!

[katch]

Peter will you interview Harry Dent again?

[lota]

a survey by the National Retail Federation found that 151 million Americans either shopped in stores or online over Black Friday weekend, well above the expected 136 million

[williamj.greene]

Thanks again for what You are doing here!

[rusche]

There are a lot of points you made that I agree with, but I disagree with your thoughts that there will be a lot of returns. Although the things you pointed out make sense, my experience tells me otherwise: I have an online retail business and my percentage of returns after Christmas are always lower than my percentage of returns throughout the rest of the the year despite offering a very generous holiday return policy. At least for my business, people don't seem to return gifts at a very high rate.

[dasherman]

If memory serves me correct Joe Kernan was being sarcastic.

[bigpapi]

I bought a couch and chair at Lazyboy this weekend. I asked the salesman how business was, he said it was slow.

[TrueGritProductions]

My Black Friday lasted about 2 seconds. I went to by a shotgun for hunting birds and ducks and the gun store treated me like a criminal, told me I couldn't buy with an out of state license. YOU'RE RIGHT I'M A HORRIBLE PERSON FOR SEEING A GOOD BUY AND WANTING TO PURCHASE.

[KnitekniteA]

I was just browsing on Amazon, and I have to imagine the same mo You have in the dressing room is also a widely used practice by Amazon shoppers, 1 guy suggesting to another that instead of buying one pair of shoes in a certain size only to return them if they don't fit, just go ahead and buy 3 or 4 pairs like He does, to size them, as His home shipping address becomes the dressing room. With free returns and shipping, I have to believe this practice not only being virtually risk free for shoppers, is also pretty widespread , and must be a nightmare for Amazon's numbers. Thanks for being around Peter Schiff ~ (Kk~

[robertblack]

I shop locally for clothes, heavy appliances, and cars. I shop on-line for general electronics and other things that don’t need fitting, such as car parts. I don’t usually return the things I buy locally because I try clothing and shoes on - if they don’t fit, I don’t buy.

[lota]

Even a broken clock is right twice a day

[mkmstillstackin]

what a grest story about your dad and the silver coins, Peter. I'm sorry he wasn't able to hang on long enough to see the payoff, but thanks for sharing.

[bigpapi]

Yep!!! I just finished my clothing returns today.