Despite the Data, Economy May Already Be in Recession - Ep 943
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 27 January 2024
⏱️ 58 minutes
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Transcript
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| 0:00.0 | The Peter Shipp Show. |
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| 0:39.9 | Well, another week, another record high in the Dow, |
| 0:44.8 | we continue to climb north of 38,000. |
| 0:48.3 | We closed 38,215. That is a new nominal record high in the Dow. Also I think the S&P hit a new record high today. |
| 1:00.0 | Not so for the Dow or not so for the NASDAQ rather which was down. Intel came out with bad earnings after the bell yesterday down 12% so I think that helped weigh down some of the tech names and that pulled down the Nasdek. |
| 1:15.8 | You know yesterday it was Tesla that disappointed. |
| 1:21.9 | Tesla shares were down about 12% yesterday. |
| 1:26.2 | You know, Tesla back below $200 a share, it's actually below 190 now. |
| 1:32.7 | 183 and a quarter was the close today. |
| 1:36.4 | It was up slightly on the day following yesterday's big drop. |
| 1:40.2 | So you have some of these earnings announcements that were weighing down the NASDAQ. |
| 1:45.8 | But the reason that the Dow is making new highs is that everybody is celebrating this Goldilocks situation that we have |
| 1:58.0 | where we got this great economy and supposedly there was more news that came out this week confirming how great the economy is. |
| 2:07.0 | Inflation is gone. So, you know, we've dodged that bullet. We got rid of inflation. |
| 2:12.0 | And because we have this great economy with |
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