Helicopter money was meant to be a joke – Ep 550
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 20 March 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
The unemployment claims are skyrocketing and they’re going to increase.
America lost every war it ever fought.
The government will not let this coronavirus crisis go to waste.
CNBC brings in captains of industry to weigh in with their bad ideas.
CEOs are looking for bailouts to protect their ownership of the companies, not the companies themselves.
Helicopter money was a term invented as a joke. Now the joke’s on us.
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Transcript
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| 0:00.0 | The Peter Shiff Show. |
| 0:07.0 | Well, today the Dow broke its string of eight consecutive days of thousand point moves |
| 0:16.0 | in one direction or the other. |
| 0:17.8 | We actually finished with a slight gain today in the Dow, 188.27 points, not even 1%. |
| 0:25.6 | So a pretty small move. |
| 0:27.8 | The bigger move was in the smaller stocks and most beaten down Russell 2000. |
| 0:32.6 | That index was up almost 7% on the day. |
| 0:36.3 | But this of course follows yesterday's plunge. |
| 0:39.0 | At one point the Dow was off better than 2,000 points yesterday. |
| 0:44.5 | But it ended up closing a Dow at a little under 1,400. |
| 0:48.5 | At the lows the Dow Jones was below 19,000. |
| 0:53.0 | Low got all the way down to 18,917, spot 46. |
| 0:58.6 | That I think is about a 36% decline thus far in this bear market. |
| 1:04.6 | At the lows the Russell 2000 was actually down by 44%. |
| 1:08.9 | I read something today that I, something like half the stocks are now down 50% off their |
| 1:13.8 | highs or something like that. |
| 1:15.2 | So this bear market is already very brutal and it's really only gotten started. |
| 1:20.7 | But if you really want to know the truth the bear market has been going on for about |
| 1:26.4 | 21 years. |
| 1:28.4 | Now how can you say that right? |
| 1:29.4 | 21 years what do you mean we were just at a record high. |
| 1:32.4 | The Dow hit a record high in February. |
... |
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