Anchors Aweigh. Adrift in a Sea of Inflation – Ep 668
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 17 March 2021
⏱️ 58 minutes
🧾️ Download transcript
Summary
* Dow breaks its streak of seven day record highs.
* Import and export prices rise.
* Home building prices rise.
* Expansive tax hikes coming on income.
* NFT mania moves to virtual sneakers.
* I lost $4,000 HODLing my tweet.
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Transcript
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| 0:00.0 | I'd like to thank Indeed for continuing to support the Peter's Shift Show podcast. |
| 0:13.8 | You know, hiring is one of those things that you don't want to mess up. |
| 0:17.8 | With the stakes this high, there's only one choice, and that's Indeed. |
| 0:22.3 | And right now, you can get started with a free $75 credit to upgrade your job post at |
| 0:27.8 | Indeed.com slash Peter. |
| 0:30.2 | This offers value through March 31st terms and conditions do apply. |
| 0:36.1 | Well, today the Dow Jones broke a seven day streak of consecutive all time record highs. |
| 0:43.9 | The Dow did not make a new high today. |
| 0:46.7 | In fact, the S&P was the only of the major indexes to put a new intraday high. |
| 0:53.6 | Although the S&P like the Dow did close down. |
| 0:56.9 | The Dow was down about a hundred points. |
| 0:59.1 | It was a bit of a counter rotation day on a reversal Tuesday where we saw the strength |
| 1:05.1 | coming back to some of the tech stocks. |
| 1:07.1 | The Nasdaq managed to eke out a small gain. |
| 1:10.3 | Money was coming out of value, particularly the small cap value. |
| 1:14.9 | The Russell 2000 was the biggest loser on the day down about one and three quarters percent. |
| 1:20.2 | This as interest rates continue to check up yields on the 30 year back up just below 2.4, 2 spot 3.9.1. |
| 1:30.7 | And the 10 year above 1.6 closed at 1 spot 6.2.1. |
| 1:36.5 | You know, there's been a lot of hope out there. |
| 1:38.9 | Some of it sparked, as I said by David Tepper, that maybe we're going to pause here |
| 1:43.9 | and rates are going to stop rising. |
| 1:45.9 | But if you look at the chart, there's no reason to believe that that's going to be the case. |
... |
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