America Has Never Been Less Great – Ep 620
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 17 October 2020
⏱️ 64 minutes
🧾️ Download transcript
Summary
Retail sales surge while production crashes.
PPP monkey business driving spike in business applications.
Borrowing from poorer countries is a sign of decay, not strength.
The income tax is proof that Americans are not a free people.
Hunter Biden compromises national security and economy.
Twitter censors the story from the public.
The coverup is as outrageous as the story.
Washington full of pickpockets, not public servants.
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Transcript
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| 0:00.0 | The Peter Schiff Show. |
| 0:09.2 | We had a very quiet day in the market today. |
| 0:12.5 | The Dow Jones S&P managed to finish up a positive week in the black, although the Nasdaq and |
| 0:21.1 | Russell 2000 were a bit lower on the day. |
| 0:25.0 | In fact, the Russell 2000 was the only index of those four to have actually finished the |
| 0:31.1 | week in the red. |
| 0:34.0 | Most of the positive momentum in the stock market resulted from what I discussed during |
| 0:40.1 | my podcast on Tuesday. |
| 0:42.5 | The idea that a Biden win, which is increasingly more likely, the closer we get to the election, |
| 0:51.9 | the Donald Trump continues to be so far behind in the polls. |
| 0:57.5 | Wall Street now has convinced itself that a Biden win is good for the stock market. |
| 1:04.5 | It's a positive. |
| 1:06.3 | Now a Trump win is also a positive, so it's pretty much a can't lose, right? |
| 1:10.6 | I mean, either way, it's positive, but not too long ago, one of the reasons that so |
| 1:16.8 | many people on Wall Street were bullish was because everybody believed that Trump was |
| 1:21.8 | going to get reelected and reelecting Trump was supposed to be good for the market. |
| 1:27.2 | After all the market had done very well under Trump's tenure, Donald Trump brought with |
| 1:33.0 | him the promise of lower taxes, fewer regulations, more economic growth, all of that stuff. |
| 1:40.5 | If it actually were to happen is bullish for stocks. |
| 1:44.8 | Some of it did happen. |
| 1:45.8 | We did get corporate tax cuts, so that was bullish for stocks. |
| 1:51.7 | But if Donald Trump being president was bullish for stocks because of what Trump was doing, |
... |
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