2.8 • 690 Ratings
🗓️ 3 December 2020
⏱️ 26 minutes
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0:00.0 | I am here with Dr. Kirk Elliott. Welcome to the show. Hey, thanks. It's great to be with you again, Sean. |
0:07.7 | Yeah, so tell me what's going on because I saw the price of gold was fluctuating recently. |
0:12.7 | We've got some uncertainty in the markets because people really don't know if it's going to be Joe Biden or Trump. |
0:20.7 | And I guess depending on which way that goes, the markets are going to react completely |
0:24.9 | differently. |
0:26.0 | So tell me what's going on in the markets right now. |
0:29.4 | Oh, it's a great question. |
0:30.7 | And so some of the markets will act exactly the same regardless of who the president is |
0:36.3 | and some will not. |
0:37.4 | So maybe, uh, |
0:39.1 | let's just actually go through Biden first. Let's say president-elect Biden, which is kind of |
0:46.3 | crazy to me. It's like he's not president-elect. The votes haven't been certified. He's still |
0:50.5 | citizen Biden or felon Biden, whatever you want to call him. |
0:57.4 | But he's not really the president, Delaccia, which is crazy. |
1:02.9 | But okay, so if it is Biden, which, by the way, I don't think that it will be. |
1:13.4 | But we want to cover all of our bases because people ask me this question all the time, just like we just did. So he will kill the stock |
1:19.1 | market, just obliterating. And why? It's because of his own policies that he thinks are going to be |
1:27.1 | good for the economy and provide |
1:28.6 | employment, but it's going to be terrible because when you raise capital gains taxes, |
1:33.6 | when you raise the top personal income tax to 40% from where it is now, when you increase |
1:40.7 | payroll taxes, you know, whenever you raise a tax, assuming people's salaries stay the |
1:49.4 | same, your take home goes down and people have less money to spend. When people don't spend |
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