Irrational Exuberance on Steroids – Ep 744
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 27 October 2021
⏱️ 59 minutes
🧾️ Download transcript
Summary
* Elon Musk needs a rocket ship to find Tesla’s PE.
* Bakkt Holdings rises on crypto partnership with MasterCard.
* Jack Dorsey warns of imminent hyperinflation.
* Stanley Druckenmiller doesn’t realize the Fed is the problem.
* When politicians aim their weapons at the billionaires, they always hit the middle class the hardest.
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Transcript
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| 0:00.0 | The Peter Schiff Show. |
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| 0:50.0 | slash Peter. |
| 0:51.3 | Well both the Dow Jones and the S&P 500 hit new all-time record highs today. |
| 0:56.9 | But I don't really want to talk about the overall market. |
| 1:00.0 | I want to focus in on just a few highly speculative names that have had meteoric rises and in |
| 1:07.1 | some cases crashes back down in the last couple of days just as the latest evidence of |
| 1:13.4 | the speculative fervor in this massive bubble. |
| 1:17.4 | I mean we've seen all kinds of indications of this with the meme stocks. |
| 1:22.7 | We were going through stuff with GameStop and AMC and a host of other internet darlings |
| 1:28.6 | that were pumped up by the Reddit Raiders. |
| 1:31.5 | But what we're seeing today is just another indication of the casino-like nature of today's |
| 1:38.3 | stock market that is completely the byproduct of artificially low interest rates, the inflation |
| 1:45.1 | that the Federal Reserve and other central banks have created. |
| 1:48.2 | Now so far these examples of speculative excesses have not marked the top in the market |
... |
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