GDP & Stocks Down + Inflation Up = Recession – Ep 805
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 1 May 2022
⏱️ 56 minutes
🧾️ Download transcript
Summary
· S&P has worst first 4 months since 1939.
· FANG stocks enter bear market.
· Prices increasing faster than wages.
· Cathie Wood is the guru of mindless meme stock investing.
· Bitcoin HODLers are deer staring into the headlights of a Mack truck.
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Transcript
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| 0:00.0 | The Peter Shifch Show. |
| 0:09.2 | Today's podcast is sponsored by Shopify. |
| 0:12.0 | Shopify is a platform designed for anyone to sell anywhere, giving entrepreneurs like myself |
| 0:17.0 | the resources once reserved for only the biggest of businesses. |
| 0:21.2 | For a free 14-day trial and full access to Shopify's entire suite of features, go to shoppify.com |
| 0:26.9 | slash gold. |
| 0:27.9 | Today's podcast is also sponsored by Athletic Greens. |
| 0:31.2 | Athletic Greens is now giving way a free one-year supply of immune supporting vitamin D and |
| 0:36.7 | five free travel packets with your first purchase. |
| 0:39.5 | Go to athleticgreens.com slash Peter to take ownership of your health and pick up the |
| 0:44.3 | ultimate daily nutritional insurance. |
| 0:47.1 | It should be another scary weekend for investors given the ugly clothes on Friday. |
| 0:53.0 | In fact, it was a brutal way not only to finish the week, but the month of April, particularly |
| 0:59.8 | the NASDAQ composite. |
| 1:01.7 | The tech rec continues unabated. |
| 1:04.7 | In fact, I had been particularly vocal in my warnings. |
| 1:09.1 | Even before this year began about the impact you were going to see in the tech stocks from |
| 1:15.1 | rising interest rates and higher inflation, I had repeatedly warned that these stocks |
| 1:20.1 | were particularly vulnerable to this new dynamic that investors were not willing to pay |
| 1:26.1 | these sky high multiples for future earnings in a higher interest rate environment, especially |
| 1:32.6 | where inflation was eroding away the value of those future earnings. |
| 1:37.0 | I saw early on that the rotation had already begun out of those high growth names into |
... |
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