Financial Markets Back on the Brink of Collapse - Ep 978
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 7 September 2024
⏱️ 66 minutes
🧾️ Download transcript
Summary
Market Turmoil & Economic Uncertainty: A Deep Dive into Non-Farm Payroll Report and Fed Policies
In this episode, we explore today's weaker-than-expected non-farm payroll report and its impact on the markets. Despite a brief improvement in stock indices following rate cut expectations, concerns loom as markets question whether a 25 or 50 basis point rate cut is forthcoming. The podcast dissects the current state of the labor market, the potential Fed actions, and the implications for tech stocks, gold stocks, cryptocurrencies, and overall market dynamics. We also delve into the historical context, drawing parallels to the financial crisis of 2008 and discussing the looming recession and inflation threats.
Download the CFO’s Guide to AI and Machine Learning at NetSuite.com/GOLD
🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com
🔔 Free Reports & Market Updates: https://www.europac.com
🟡 Schiff Gold News: https://www.schiffgold.com/news
📘 Book Store: https://schiffradio.com/books
👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff
👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff
👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial
👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff
#stockmarket #inflation #cryptocurrency
Our Sponsors:
* Check out Ethos: ethoslife.com/GOLD
* Check out The Moorings: moorings.com
Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The Peter Shipp Show. |
| 0:08.8 | Today's podcast is sponsored by Net Suite, |
| 0:11.0 | the easy to use cloud-based business management software for every aspect of your business. |
| 0:16.3 | Download the CFO's guide to AI and machine learning at NetSuite.com slash gold. |
| 0:21.6 | The guide is free to you at NetSuite.com slash gold. The guide is free to you at Net Suite.com slash gold. |
| 0:24.7 | Net sweet.com slash gold. |
| 0:27.5 | Good evening everyone. Well, this is another Friday night where earlier today we got a weaker than expected non-farm payroll report, |
| 0:40.3 | although not quite weak enough |
| 0:45.8 | based on the convention of wisdom in reality the Jaz report was quite a bit weaker than the media is spinning it and I'm going to get into that shortly. But the point I want to |
| 0:54.8 | make right after the gate here is that the markets are set up pretty much |
| 1:01.6 | exactly the way they were a month ago when I did a podcast on a Friday night |
| 1:08.4 | where we got the July week non-farm payrolls report and the stock market sold off closed on the lows |
| 1:16.9 | hardest hit being the tech stocks but also gold stocks were hit, all the |
| 1:24.1 | cryptocurrencies were hit hard, everything was going down, |
| 1:27.8 | and that's what prompted me to say that I thought the markets |
| 1:30.8 | looked like they could crash unless we got the Fed to come to the |
| 1:35.0 | rescue because I thought that the markets at that time didn't know if the Fed was |
| 1:41.8 | going to cut rates because the last FOMC meeting they talked |
| 1:46.6 | about how good the economy was and how they still weren't quite sure that inflation was |
| 1:51.7 | under control and I said you know the markets aren't going to |
| 1:54.6 | like this the markets are going to get hit and I also pointed out the weakness in the |
| 1:59.9 | dollar versus the Japanese yen and that really blew up even more on the following |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Peter Schiff, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Peter Schiff and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.