Political Tension Puts Near-Term “Stimulus” in Doubt – Ep 613
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 22 September 2020
⏱️ 61 minutes
🧾️ Download transcript
Summary
Chart looking weak for the Dow and Russell, strong for silver.
Bloom coming off the rose of economic recovery.
Political tensions rise with death of Ruth Bader Ginsburg.
US government is the biggest threat to America, not terrorists or COVID.
Fiscal stimulus requires monetary stimulus.
The constitution has to be applied, not interpreted.
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Transcript
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| 0:00.0 | What's the Peter Schiff show? |
| 0:09.1 | We had a very volatile day today in the markets. |
| 0:12.2 | Pretty much everything got slammed, particularly early in the day. |
| 0:17.3 | I want to start off by talking about the stock markets. |
| 0:21.3 | But before I do, I want to give a special shout out to Raycon Wireless Earbuds for supporting |
| 0:27.1 | the Peter Schiff show podcast. |
| 0:29.5 | Raycon Earbuds start at about half the price of other premium wireless earbuds on the market. |
| 0:36.6 | And for a limited time, listeners to this podcast can get 15% off by Raycon.com slash |
| 0:45.6 | gold. |
| 0:46.6 | Now, the Dow Jones, I think on the lows, was down just over 940 points. |
| 0:54.3 | The chart is starting to look weak now for the Dow if you take a look at it. |
| 1:04.3 | All the major indexes were down today, S&P 500, about 1, just over 1%, the exception |
| 1:13.1 | being the NASDAQs, which clawed its way almost back to unchanged. |
| 1:17.2 | It was barely down just 14 points on the day. |
| 1:21.3 | The weakest of the indexes was the Russell 2000. |
| 1:26.0 | That index was down just over 3.3%. |
| 1:28.6 | In fact, if you look at the chart of the Russell, I think that is the weakest of the charts. |
| 1:34.6 | And remember, the Russell 2000 is the one index that didn't even make a new high. |
| 1:39.8 | In fact, the high for the Russell was set back in 2018. |
| 1:46.2 | And that was just before we had that major sell-off in the fourth quarter of 2018 that resulted |
| 1:54.6 | in the Fed reversing course on interest rates going from hiking rates to cutting rates. |
| 2:01.8 | It's what laid the foundation for the reversal from quantitative tightening back to quantitative |
... |
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