The Biggest Bubble Ever – Ep 607
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 2 September 2020
⏱️ 76 minutes
🧾️ Download transcript
Summary
APPL and TSLA continue soaring after splits.
TSLA rains on its own parade.
Zoom zooms.
Loot this book.
George Floyd died of a drug overdose.
McDonald’s sued for treating black owners equal to white owners.
Rampant wave of race-based lawsuits on the way.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:09.1 | Today was the first trading day of the month of September. |
| 0:14.0 | We closed out August yesterday with another gain. |
| 0:17.3 | So we did have the best August in the S&P 500 going all the way back to 1986. |
| 0:26.2 | And that was about a year before we had the 1987 stock market crash, which happened in |
| 0:32.8 | October of 1987. |
| 0:35.3 | You know, though, even though October is infamous for big stock market crashes, historically, |
| 0:42.6 | the weakest month of the year for the stock market is not October. |
| 0:48.0 | It's actually September. |
| 0:49.8 | The month that began today is historically the month where the US stock market does the |
| 0:55.5 | worst, although I do have a feeling that this September will probably be an exception |
| 1:01.0 | to that rule because it really seems at this point that there's no reason to believe |
| 1:07.3 | that this inflation driven rally is going to Peter out anytime soon. |
| 1:11.9 | Now I wouldn't be surprised if it did, but I'm just not willing to bet that it will. |
| 1:17.3 | That in fact, we hit new record highs again today in the S&P 500 and the Nasdaq. |
| 1:24.4 | The Dow Jones was positive on the day up over 200 points, I think, 215. |
| 1:30.3 | It closed right near the highs of the day. |
| 1:32.4 | In fact, we were lower in the morning. |
| 1:34.9 | We were down over 100 points early on, but nothing was going to keep this market down. |
| 1:40.4 | The buyers came in. |
| 1:42.7 | And so we had a big rally, but the Dow is still the major index of the three that is not |
| 1:49.2 | hitting new record highs. |
... |
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