Soaring Consumer Credit Means Higher Consumer Prices - Ep 866
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 11 January 2023
⏱️ 44 minutes
🧾️ Download transcript
Summary
· The Fed will surrender to inflation in 2023.
· Recession will be the Fed’s next battle, and they’ll lose that too.
· Inflation is expanding with money supply and credit supply.
· Consumers in debt are going out with a bang.
· Republican compromises continue to err on the side of big government.
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Transcript
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| 0:00.0 | The Peter Shiff Show. |
| 0:09.2 | Today's podcast is sponsored by Bambi. |
| 0:11.2 | Bambi helps small business owners with their most complex HR issues and employment nuances |
| 0:16.5 | across all 50 states. |
| 0:18.3 | Go to bambi.com right now and type in Peter Shiff under podcasts when you sign up. |
| 0:23.2 | It'll really help the show. |
| 0:25.3 | Old equity markets continue their early year strength. |
| 0:29.4 | The Dow Jones up again today. |
| 0:31.7 | The index is now up 1.7% so far in 2023. |
| 0:37.0 | It's bringing up the rear of the major indexes. |
| 0:40.2 | The S&P 500 doing a bit better up 2.1%. |
| 0:45.4 | The NASDAQ is up to 1.5%. |
| 0:48.2 | The leader is the Russell 2000, which is up 3.5% on the year. |
| 0:53.0 | One of the reasons that you're seeing more strength in the S&P than in the Dow is we |
| 0:57.8 | have gotten a bid in some of the beaten down stocks. |
| 1:02.3 | But the fact that those types of stocks are the ones that are leading the rally. |
| 1:06.8 | Basically, the most overvalued, heavily shorted names are the ones that are rallying. |
| 1:12.9 | To me, that indicates the unsustainable nature of the current rally when all you have is |
| 1:19.0 | short covering and maybe some speculators trying to get in for a quick buck and ride |
| 1:25.0 | these stocks up. |
| 1:26.1 | For example, the Kathy Wood arc innovation ETF is up 7.6%. |
| 1:32.0 | So far this year, that likely means that when the momentum runs out and then in fact turns |
... |
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