Longest bull market in history officially ends – Ep 545
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 12 March 2020
⏱️ 35 minutes
🧾️ Download transcript
Summary
The same financial anchors who said not to worry about the banks in 2008 are saying the same thing now.
Dollar gained on yesterday’s strength, but still in a downtrend. Gold prices acting very similar to 2008.
Biden can’t lost and Trump can’t win.
Kudlow saying the same nonsense he was saying as a cheerleader of the President’s economy, except now he’s actually a player in it.
Inflation, even the way the government measures it, is breaking out of its slumber.
Companies more afraid than ever of legal consequences.
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Transcript
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| 0:00.0 | The Peter Ships Show |
| 0:05.0 | Well, it's official. |
| 0:10.6 | The longest bull market in US history is now officially over. |
| 0:16.9 | We have entered bear markets. |
| 0:19.3 | The S&P and the Dow Jones are now down better than 20% from their highs. |
| 0:25.9 | The NASDAQ is down better than 22%. |
| 0:30.4 | The Russell 2000 down better than 26%. |
| 0:34.4 | I think the transports maybe 28% that of course, of financials are doing even worse than |
| 0:40.5 | that. |
| 0:41.5 | The Regional Banking Index I spoke about on yesterday's podcast is now down 53% from |
| 0:48.7 | its peak. |
| 0:49.7 | In fact, we've wiped out the last seven years of gains in the last couple of weeks. |
| 0:54.8 | In fact, there's another record that we just set with respect to this bear market that |
| 0:59.4 | just officially began. |
| 1:01.7 | This is the fastest we have ever gone from record highs to a full-fledged bear market. |
| 1:07.3 | Remember, the Dow, the S&P and the NASDAQ set record highs in February. |
| 1:13.2 | We've gone from all-time record highs to a bear market in a matter of weeks that has |
| 1:19.1 | never happened before. |
| 1:21.1 | In fact, Donald Trump was tweeting about the markets when they were at record highs. |
| 1:25.8 | Remember, he had one tweet where he said, hey, look how much money you're making. |
| 1:30.0 | 70, 80, 90%. |
| 1:31.8 | If you're only making 50%, you're doing something wrong. |
... |
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