Government will Kill More Businesses Than it Saves – Ep 563
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 18 April 2020
⏱️ 96 minutes
🧾️ Download transcript
Summary
Wall Street showing their bias against gold stocks.
Fed’s balance sheet climbing toward 7 trillion.
Bailouts will kill businesses.
Q&A
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Transcript
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| 0:00.0 | The Peter Schiff Show. |
| 0:09.0 | It's Friday and the markets had a very strong day today. |
| 0:13.0 | In fact, we finished a up week on an up note. |
| 0:17.0 | In fact, the sectors that did the best today were the ones that had been beaten down the most. |
| 0:22.0 | So you saw a lot of strength today in the financials, |
| 0:26.0 | in the small cap companies, Russell 2000. |
| 0:29.0 | The energy stocks were strong, |
| 0:31.0 | despite oil prices going down again. |
| 0:33.0 | In fact, I think West Texas was trading with an 18 handle in the spot market, |
| 0:38.0 | not nearly as weak in the outer months, but for immediate delivery. |
| 0:42.0 | You really have a lot of pressure on oil prices, but the oil stocks did well. |
| 0:47.0 | The stocks that did poorly today were the ones that everybody had been buying. |
| 0:51.0 | I mean, look at Netflix, which yesterday hit a new record high, |
| 0:55.0 | along with Amazon, both those stocks down today. |
| 0:58.0 | But the NASDAQ was still positive, |
| 1:01.0 | but not nearly as much as the broader markets, |
| 1:04.0 | because it was now weighed down by these tech stocks that had been propping it up. |
| 1:09.0 | I think part of the rally or a catalyst was some optimism that started yesterday over maybe a gilliet has got some kind of a coronavirus cure. |
| 1:20.0 | But also, I just think there's some short covering and also you have some people trying to pick bottoms. |
| 1:27.0 | You know, they think maybe the bear market is over. |
| 1:30.0 | And so they're buying down some of the stocks that have been beaten up the most. |
| 1:34.0 | So they're buying some of the financials or some of these small cap companies. |
... |
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