A December to Remember – Ep. 426
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 18 December 2018
⏱️ 44 minutes
🧾️ Download transcript
Summary
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Two Podcasts in One Day!
For those of you who were worried that I wasn't going to be able to do a podcast today to talk about the stock market or the economy because I already did a podcast earlier this morning, well, you're wrong! Here I am, doing my second podcast of the day. This may be an unprecedented event. I don't know if I've ever recorded 2 podcasts in the same day.
Don't Miss This Morning's Podcast on the Unconstitutionality of Obamacare
The reason I did the earlier podcast was because I wanted to address the topic of the Federal court in Texas striking down the ACA individual mandate and rendering the entire Affordable Care Act unconstitutional. I would encourage you to listen to that podcast if you are interested in this topic or the Constitution to listen to it in its entirety.
Not a Crash, but Regular Volatility
But let's talk about another big down Monday. As I suggested when I did my podcast on Friday, I'm still thinking that there is a possibility of a Black Monday type event this year. I said we were running out of Mondays because we only had 3 left, and now one down. This, again was not a crash, but the Dow did close down better than 500 points. At one point, we were down over 600. You know, these big drops are not becoming a recurring event - they add up, right?
Worst December Start Since 1980
If you look at the charts, we look extremely vulnerable to a big drop. I read that already, we're off to the worse start for a December since 1980. That was really the end of the last bear market. We had a bear market that went from 1966 to 1982, so the last time we had a December this week was at the tail end of that long-term secular bear market. Our Sponsors: * Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me * Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai * Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
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| 0:00.0 | The Peter Schiff Show. |
| 0:09.2 | Those of you who were worried that I wasn't going to be able to do a podcast today to talk |
| 0:13.6 | about the stock market or the economy because I already did a podcast earlier this morning, |
| 0:20.2 | well, you're wrong. |
| 0:21.6 | Here I am doing my second podcast of the day. |
| 0:24.9 | This may be an unprecedented event. |
| 0:27.6 | I don't know if I've ever recorded two podcasts in the same day. |
| 0:32.3 | The reason I did the earlier podcast was because I wanted to address the topic of the |
| 0:38.8 | court in Texas, the federal court, striking down the individual mandate and rendering the |
| 0:45.4 | entire Affordable Care Act, otherwise known as Obamacare, unconstitutional. |
| 0:51.0 | So I wouldn't encourage anybody who is interested in this topic or the Constitution to listen |
| 0:56.4 | to that podcast in its entirety because I dedicated the entire podcast to that topic. |
| 1:02.7 | I knew it would take too long to really get into it to include it in today's podcast. |
| 1:08.9 | So I did a separate podcast so that issue would be entirely covered in one podcast and I |
| 1:13.9 | can focus for today's normal podcast on what's going on in the markets and the economy. |
| 1:20.7 | Not that this ruling doesn't have implications, I think, for the markets and the economy because |
| 1:26.5 | I think it does and I think it has a lot of adverse political ramifications that will |
| 1:32.4 | simply enhance the ability of the Democrats to take over the government in 2021 and to |
| 1:41.0 | implement a national health care scheme. |
| 1:44.1 | But I touched on that topic too in the podcast which I would encourage everybody to listen |
| 1:49.2 | to if you haven't already listened to it. |
| 1:51.6 | But let's talk about another big down Monday as I suggested when I did my podcast on Friday. |
... |
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