Sanders surge more dangerous than coronavirus – Ep. 529
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 28 January 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
The real virus to be concerned about is Bernie Sanders as he infects more voters with his rapidly spreading burn.
Bernie Sanders was on Phil Donahue in 1981 when it made news that a Vermont town elected a Socialist mayor. Phil Donahue asks if he believed in competition. Bernie Sanders said no. He said he believes in cooperation, a.k.a. Socialism/Marxism/Communism.
Bernie has certainly been very consistent. He’s been saying the same things the past 30-40 years, but he’s been wrong the whole time. He never grew up, became wise, or developed intellectually. He’s Peter Pan except he can’t fly.
The stock market has barely started to react to the possibility of a Sanders president and that possibility may be becoming a probability. And if not Sanders 2020, Alexandria Ocasio-Cortez is in a good position for 2024
Frustrated father questions Elizabeth Warren about her student loan policies and she laughs in his face.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:08.9 | We're finally starting to see some weakness in the stock market. |
| 0:13.4 | The Dow Jones was down just over 450 points today. |
| 0:18.4 | I guess within 50 points or so of the low of the day, we closed very weak down near the |
| 0:23.7 | lows. |
| 0:24.7 | There was a rally in for a day, but I don't know if maybe down a little less than 300 |
| 0:29.4 | points is about the best rally the Dow can muster. |
| 0:33.9 | We're now down about 2.8% from the peak price. |
| 0:38.2 | We did get as high as 29,373 spots, 6.2. |
| 0:44.0 | The close today was 28,535.8. |
| 0:48.0 | We had a weekday on Friday as well, but not nearly as weak as today. |
| 0:52.5 | In fact, all of the major averages were down. |
| 0:55.8 | The Nasdaq was down almost 1.9%. |
| 0:58.5 | It's now down about 3.3% from its record high set earlier this month. |
| 1:05.7 | The Russell 2000 down a little over 1% today, but it's been the weakest of the major |
| 1:11.2 | indexes. |
| 1:12.2 | It's down better than 4% now from its high earlier in January. |
| 1:17.0 | And remember, as I've been pointing out on this podcast, the Russell 2000 is the only |
| 1:22.0 | index that didn't make a new record high. |
| 1:24.7 | The high for the Russell was still in the fall of 2018. |
| 1:29.6 | So while the Fed was able to levitate the other markets to new highs, the other averages |
| 1:34.7 | by cutting rates and doing quantitative easing, it was not able to repeat that trick when |
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