4.7 • 5.8K Ratings
🗓️ 29 October 2021
⏱️ 45 minutes
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0:00.0 | The Petership Show. |
0:09.0 | Today's episode of the Petership Podcast is sponsored by NetSuite, the business management |
0:14.7 | software that handles every aspect of your business in an easy-to-use cloud platform. |
0:20.7 | NetSuite is offering a one-of-a-kind financing program only for those ready to switch today. |
0:26.1 | Go to NetSuite.com slash gold. |
0:29.3 | All of the major stock market indexes finish the day with strong gains. |
0:34.4 | Although this time it was the NASDAQ that made a new all-time record high, of course stock |
0:39.7 | traders completely oblivious to the bad news, or maybe even if they're not oblivious |
0:45.3 | to it, they don't care about it. |
0:47.7 | At least the foreign exchange markets cared a little bit. |
0:50.7 | The US dollar index, I think, finished at about a six-week low today, closed around 93, |
0:56.7 | spot, 3-7. |
0:58.2 | Although if foreign currency traders were really paying attention to the economic news or understood |
1:04.5 | the implications, the US dollar would be a lot lower. |
1:07.9 | In fact, the US dollar would have gotten killed yesterday if traders understood the implications |
1:15.2 | of the data. |
1:16.2 | In fact, if they acted the way traders used to act to the very data points back in the 1980s |
1:24.5 | or even in the first half of the 1990s when economic fundamentals played a much bigger |
1:32.0 | role. |
1:33.0 | Because once Alan Greenspan really began to actively involve himself in the markets. |
1:40.7 | Of course, that started in the late 1980s after the 87 stock market crash, but it really |
1:47.1 | kicked in during the bubble days of the irrational exuberance of the latter part of the 1990s. |
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