Black Friday Leaves Investors Black and Blue – Ep 755
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 27 November 2021
⏱️ 42 minutes
🧾️ Download transcript
Summary
* Covid crashes market again with new Omicron Strain.
* Dow suffers its worst drop since Covid lockdowns started.
* Investors choose Euro and Swiss Franc over US Dollar as safe haven.
* Markets begin pricing out rate hikes that they previously priced in.
* Smart money dumps crypto while dumb money buys the dips.
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Transcript
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| 0:37.4 | It may have been a black Friday for retailers, but it was a black and blue Friday for investors |
| 0:43.6 | who got beaten up pretty badly on Wall Street. |
| 0:47.4 | Just about anything you owned was down on Friday. |
| 0:52.1 | In fact, the Dow suffered its worst drop since April of 2020. |
| 0:57.9 | And of course back then we were in full COVID and everything was falling apart. |
| 1:03.4 | And once again, the catalyst for yesterday's decline was a new COVID variant. |
| 1:09.7 | This one coming out of Africa, most specifically South Africa, although I think there's some |
| 1:15.1 | other countries but swana had a few cases. |
| 1:18.0 | But South Africa seems to be the focal point. |
| 1:21.7 | Last I read, maybe they had 100 cases. |
| 1:23.7 | Probably more by now, a lot of countries have already quarantined flights coming in from |
| 1:31.6 | South Africa. |
| 1:32.6 | No more flights allowed from that nation. |
| 1:35.5 | They're trying to contain the spread. |
| 1:37.3 | And actually they also have a case in Hong Kong. |
... |
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