Inflation Data Sparks Biggest Market Crash Since Covid Lockdowns – Ep 840

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 14 September 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

· Stock market has its biggest crash since 2020 covid lockdowns.
· Food prices see biggest year over year increase since 1979.
· Bitcoin gets smoked.
· Fed needs to make some hard political decisions if it wants to stop inflation.
· Get exposure to gold now before the entry point is a lot higher.

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Transcript

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0:00.0	The Peter Shiff Show.
0:09.5	Today's podcast was recorded yesterday.
0:12.1	If you want to listen to my podcast, Commercial Free, the day that I record them, go to
0:17.0	shiffradio.com slash premium.
0:19.6	It only costs $5 a month.
0:22.0	Today's podcast is sponsored by Shopify.
0:24.7	Shopify is a platform designed for anyone to sell anywhere.
0:28.0	Leaving small entrepreneurs the resources once reserved for just big business for a
0:32.8	free 14 day trial and to get full access to Shopify's entire suite of features, go
0:37.5	to shopify.com slash gold.
0:39.8	The Dow Jones plunge by 1276 points today.
0:44.3	That's a move of just under 4%.
0:47.0	It's the biggest point drop in the Dow since June of 2020.
0:51.6	So it's been over two years.
0:53.3	And of course, back in June of 2020, the market was getting hammered routinely because of
0:58.7	COVID lockdowns.
1:00.3	But what hammered it today was a higher than expected inflation number, which not only
1:06.6	sent the Dow Jones tumbling, but pretty much everything else.
1:10.8	The Russell 2000 also fell by about 4%.
1:15.0	But the S&P 500 dropped by 4.3% and the Nasdaq plunge 5.4% of course, the riskier stocks
1:24.8	within the Nasdaq did even worse.
1:27.1	If you look at the Kathy Wood fund down 6.8% of course, the riskiest asset of all Bitcoin
	...

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