All Bubbles Eventually Find a Pin – Ep 622
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 27 October 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
Blue wave may not crest as once was expected.
More stimulus comes with bigger government.
Trump is the Republican Jimmy Carter.
Trump’s legacy will be his successful Supreme Court nominees.
The most important thing this election is to prevent Democrats from taking control of the Senate.
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Transcript
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| 0:00.0 | I'd like to thank Indeed for supporting the Peter Shif Show podcast. |
| 0:12.8 | Right now small businesses have to be more efficient than ever. |
| 0:16.6 | Every hire is critical. |
| 0:18.1 | Indeed is the number one job site in the world. |
| 0:21.5 | And now you can get a free $75 credit at indeed.com slash Peter. |
| 0:27.0 | Music conditions apply off for valid through December 30th. |
| 0:31.5 | We had a big sell-off in the US stock markets today. |
| 0:35.3 | Although a 300-point rally off the lows prevented the stock market losses from being even worse, |
| 0:43.4 | the Dow was down 650 points. |
| 0:46.6 | At its low it was down about 950 points. |
| 0:49.6 | That's at the client of about 2.3%. |
| 0:52.8 | S&P not quite as bad only down 1.86% because the composite down 1.64% remember what's holding |
| 1:02.6 | up the market are these COVID stay at home stocks that everybody keeps buying because the |
| 1:08.4 | catalyst for this morning's sell-off had to do with renewed fears a that we wouldn't be |
| 1:15.0 | getting as stimulus any time soon or at least before the election. |
| 1:19.2 | And also that COVID is picking up around the world in the US and in Europe delaying the |
| 1:26.0 | so-called restart reboot of the economy. |
| 1:30.6 | The second leg of the V looking a bit emaciated. |
| 1:34.8 | And so people now have more reasons to sell the recovery stocks. |
| 1:40.1 | The stocks that have to do with the economy coming back and piling into the stocks that |
| 1:45.6 | are profiting from everybody staying at home and not going out and not working. |
| 1:51.6 | The question is how long can this stay at home trade continue because all of these stocks |
... |
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