Government Creates Problems. Its Solutions Make Them Worse – Ep 737
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 2 October 2021
⏱️ 61 minutes
🧾️ Download transcript
Summary
* Markets rally on news of Merck Covid pill.
* Drug efficacy should be left to the market, not the government.
* FDA sacrifices human beings like lab rats.
* Ray Dalio chooses gold over Bitcoin.
* Home sales numbers are exaggerated by institutional flippers.
* Zillow shareholders set up for huge losses.
* Government involvement in education has driven costs up and quality down.
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Transcript
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| 0:00.0 | I'd like to thank Avast for being a sponsor for my podcast. |
| 0:13.7 | Avast New All-in-One solution, Avast One, helps you take control of your safety and |
| 0:20.0 | privacy online through a range of features. |
| 0:23.5 | You can learn more about AvastOne at Avast.com. |
| 0:26.9 | The first day of the fourth quarter got off to a positive start with all of the major |
| 0:32.2 | stock market indexes finishing higher. |
| 0:35.4 | The biggest gainer was the Russell 2000. |
| 0:38.3 | That index had suffered more in the pullback. |
| 0:41.3 | Up 1.7% on the day followed by the Dow, which gained 482 points, recovering most of yesterday's |
| 0:50.8 | 500 plus point sell off. |
| 0:53.6 | The weakest of the indexes was the Nasdaq. |
| 0:57.2 | It was up about 0.67%. |
| 0:59.7 | Although the Nasdaq broke a four-day losing streak. |
| 1:04.1 | Friday was the only day of the week where the Nasdaq closed positive. |
| 1:08.5 | But the catalyst for the rally was an announcement that came out before the open by Merck that |
| 1:16.1 | they were getting fast-tracked for approval of a very promising antiviral medication for |
| 1:23.7 | COVID. |
| 1:24.7 | This is medication that is given to people who have already contracted COVID. |
| 1:28.7 | It's not a vaccine or something designed to prevent you from getting it. |
| 1:33.4 | What it does do is help you get better if you've already got the disease. |
| 1:39.4 | That immediately caused the market to go up, especially those stocks that are associated |
| 1:46.2 | with the reopening of the economy, of the getting back to normal. |
... |
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