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The Peter Schiff Show Podcast

All Signs Point to Stagflation – Ep 691

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 15 May 2021

⏱️ 65 minutes

🧾️ Download transcript

Summary


* Oil prices pump.
* Bitcoin prices dump.
* Gold prices shine.
* US leads world in over-valued momentum stocks.
* Tucker Carlson talks inflation.
* Windows look like nails to the Fed’s hammer.
* Soaring inflation outweighs record lows mortgage rates.
* Manufacturing decreases in April.
* Economic statistics point to stagflation.



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Transcript

Click on a timestamp to play from that location

0:00.0

I'd like to thank Amazon Pharmacy for supporting my podcast.

0:13.6

Amazon Pharmacy makes it easy to order your prescriptions and then to have them delivered

0:19.1

straight to your front door.

0:20.7

The best part is that Amazon Prime members can save on prescription medication when they're

0:26.0

not using their insurance and still get two days free delivery.

0:30.1

You can learn more at Amazon.com slash gold.

0:34.0

Well all of the US stock market indexes managed to finish Friday with solid gains, although

0:40.6

it wasn't enough to make up for losses earlier in the week.

0:45.1

All of the US stock indexes closed the week down.

0:49.0

In fact, so far during the month of May, only the Dow Jones is in the black.

0:55.4

All of the other indexes are in the red.

0:58.7

So we are getting a lot of selling in May, although the sellers are not actually going away.

1:05.2

What they're doing is buying value oriented stocks.

1:09.6

So they're selling their growth oriented momentum names and they're loading up on value.

1:16.3

But this also means that they're selling US stocks and buying foreign stocks, which is

1:22.1

why foreign markets are now outperforming the US market, not only on the month, but on

1:29.0

the year because when it comes to value, even though there are some value stocks in the

1:34.9

Dow, which is the reason the Dow is doing better than these other indexes, but relative to

1:41.1

the values that you can find outside the United States, those stocks still look expensive.

1:47.0

The US leads the world in overpriced momentum stocks.

1:51.8

But when it comes to real investment value, we're well behind what's available outside

1:57.4

the United States.

...

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