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The Peter Schiff Show Podcast

Biden to Throw Drowning Economy an Anchor – Ep 645

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 16 January 2021

⏱️ 42 minutes

🧾️ Download transcript

Summary


*
Power and ignorance is a dangerous combination.

*
Biden’s stimulus plan will make the European Union look responsible by comparison.

*
Affirm’s IPO epitomizes what’s wrong with markets and the economy.

*
Dollar denominated financial assets on expedited track to worthlessness.


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Transcript

Click on a timestamp to play from that location

0:00.0

I'd like to thank Indeed for supporting the Peter Shif Show podcast Indeed.com helps

0:14.8

employers find quality job candidates with instant match.

0:19.6

You can get a free $75 credit to upgrade your job post at Indeed.com slash Peter.

0:26.2

From Zinc Edition's apply, this offers valid through March 31st.

0:31.1

Well we ended a down week on a down note for all of the major stock market indexes.

0:37.8

In fact, only the Russell 2000 managed to finish the week in the green, though it did

0:44.0

finish the day in the red.

0:46.3

In fact, gold was down this week.

0:48.4

Gold stocks were down this week.

0:50.6

Even Bitcoin was down on the week.

0:52.6

Although I'm not quite sure if the Bitcoin week is over, it's not really a Monday through

0:58.6

Friday type of deal because it trades 24.7.

1:02.2

Although the grayscale Bitcoin trust is definitely closed for the week and it finished in the

1:08.3

red.

1:09.3

So pretty much everything went down.

1:11.5

And I think what some of the markets were reacting to was the move up in interest rates,

1:17.9

which kind of turned a bit in the last couple of days of the week as markets started to

1:23.3

roll over in response to rising rates.

1:26.5

Of course, rising rates are being driven by rising inflation fears.

1:32.2

Certainly you can see that in the commodity prices, which were hitting five year highs

1:37.5

across the board.

1:39.4

In fact, we did get some pretty bad numbers coming out on import and export prices.

...

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