A trader predicts that based on historical data, a post-election recession could be on the horizon. » Read More
China's move to devalue its currency roiled the markets last week, and stoked new fears about the health of the world's third largest economy.
"She's going to be more hesitant to raise rates because she sees how fragile the global economy is," Paul told CNBC's "Futures Now" on Thursday.
"She's under the gun," he added. "I could be wrong, but I don't think they are going to raise interest rates."
According to the former Republican presidential candidate, a rapidly slowing Chinese economy adds just another headwind for an already struggling U.S. economy.
"I think there's going to be enough problems existing, whether it's the Chinese precipitating some crisis, or whether it's our economy breaking down," he said.
It's no secret commodities are in a free fall.
"The commodity sector is on its way down from the bursting of the largest commodity bubble in the history of the world," Walter Zimmermann said Thursday on CNBC's "Futures Now."
But this doesn't come as a surprise to Zimmermann, who explained that a "major fire sale in commodity prices" happens every 15 years. "The next low is not due until the second half of 2016," he said.
Zimmermann noted that this cycle comes in many phases, beginning with a "stealth" phase, peaking with "manic" buying and ending with panic selling, which is what he says the market has experienced for the better part of the past year. "The more damaging the bust, the longer it takes for the commodity sector to carve out a bottom and start trending higher again," he said.
With Tuesday's stunning announcement that the People's Bank of China would devalue the Chinese yuan about 2 percent against the U.S. dollar, China became the latest nation to join the global currency war. But according to outspoken market pundit Peter Schiff, China's too late, because the U.S. already has the inside track in the battle to debase its currency.
"America is going to win the currency war," Schiff said Tuesday on CNBC's "Futures Now." "I think we're going to win, but right now you have a dollar bubble."
The dollar bubble claims fly in the face of how the U.S. common currency has performed this year. The dollar index is up more than 7 percent year to date.
But according to the Euro Pacific Capital CEO, the Federal Reserve will hold off on raising rates as long as possible, and over time, that will cause the dollar to collapse.
While the Fed has discussed plans to raise interest rates this year as early as September, Schiff believes that the Fed will instead implement another round of quantitative easing.
"They are going to do QE4, they're going to do QE5, they're going to do QE's indefinitely until a currency crisis ends the party and they can't do it anymore. And that crisis is going to come," Schiff said. "That is what the drug addicts on Wall Street want. They want another fix, and I think the pushers are going to provide it, unfortunately."
To be sure, Schiff has made several other bold predictions, some of which, like his accurate call on the housing crisis in 2007, have come true. Others, like his claim that gold would go to $5,000, have not.
Still, Schiff remains resolute that the dollar will soon see its day of reckoning.
Read MoreMarkets fear more to China's move
"You have all these currency speculators that have been fooled by the Fed's monetary magic," Schiff said. "[They] are betting the wrong way, and when they figure it out I think the bottom is going to drop out of the dollar."
By Schiff's reasoning, the U.S. economy is doomed.
"This economy will be in recession if the Fed raises rates, and it'll be in recession even if they don't raise rates," he said.
Commodities are the gift that keep on not giving.
The sector is in the throes of an 'annus horribilis', having gotten wrecked over the past few years despite massive liquidity that should have boosted their value. Bullish investor after bullish investor has tried to call a bottom, in a set of calls that now appear ill-conceived and money losing.
Read MoreStocks put to the test in week ahead
That, of course, hardly marks the first big drop for the alternative investment group. That widely watched commodity index has fallen 17 percent the last three months, and a whopping 42 percent in the past two years.
David Stockman has long warned that the stock market is on the verge of a massive collapse, and the recent price action has him even more convinced than ever that the bottom is about to fall out.
"I think it's pretty obvious that the top is in," the Reagan administration's OMB director said Thursday on CNBC's "Futures Now." The S&P 500 has traded in a historically narrow range for the better part of 2015, having moved just 1 percent higher year to date. "It's just waiting for the knee-jerk bulls, robo traders and dip buyers to finally capitulate."
Stockman, whose past claims have yet to come to fruition, still believes that the excessive monetary policy from central banks around the world has created a "debt supernova," and all the signs point to "the end of the central bank enabled bubble," which could cause a worldwide recession.
Shares of Walt Disney Co., previously the best performer in the Dow Jones industrial average year to date, plunged on Wednesday after the company reported quarterly earnings. Although earnings came in above analyst expectations, revenue fell short, prompting a drop of almost 10 percent. But some traders are using the drop as a buying opportunity and expect the stock to rebound to prior highs.
"This could make sense, because after earnings come out, the premium drops and now you can risk just 1.5 percent to make that bullish bet," CNBC contributor Mike Khouw said Wednesday on CNBC's "Fast Money."
Disney options traded at nine times their average daily volume on Wednesday. According to Khouw, Disney was one of the most active stocks on Wednesday, second only to dividends options trading in Apple.
Specifically, traders bought the September 115-strike calls for $1.50 and the January 120-strike calls for $2.85, "two of the most surprising places where we saw activity," Khouw said. Buyers of those calls see Disney gaining about 5 percent by September, or about 10 percent by January.
Disney's shares extended losses on Thursday, trading down about 4 percent at $105. The stock is up more than 13 percent year to date.
However, the majority of analysts are still bullish on the stock, with an average price target of $121.54.
On Wednesday, Guggenheim Securities revised its target price on Disney to $120 from $127, but noted long-term growth potential for the company.
"We believe that investors will continue to take a longer-term view of valuing unique asset stories and see Disney as continuing to fit this category despite growing concern about the pay-TV marketplace," Guggenheim's Michael Morris wrote in a note to clients Wednesday.
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