The Debt Bomb Has a Shorter Fuse Than Anyone Thinks – Ep 573
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 14 May 2020
⏱️ 49 minutes
🧾️ Download transcript
Summary
Tech stocks providing false sense of security for the markets.
Powell throws cold water on negative interest rate expectations.
Trump beats the drums demanding negative interest rates.
Betting odds increase on Democrats taking the Senate.
Congressman now proposing to pay people to go off unemployment.
Restaurants will not recover from this.
Entrepreneurs and business owners are the real heroes, not teachers.
Swedish response was more responsible.
Inflation is a consequence of government, never the private sector.
Gold and gold stock charts looking great as markets start to roll over.
Home builders are in trouble.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:09.1 | Well when I recorded the last podcast a couple of days ago, the US stock market was looking |
| 0:15.8 | pretty vulnerable. |
| 0:16.8 | We had it very, very weak, close. |
| 0:19.0 | We sold off and closed right on the lows. |
| 0:22.2 | The markets looked like they were set up for some follow-through selling the next day, |
| 0:27.5 | which I mentioned and we got. |
| 0:29.0 | We actually had a 500 point sell-off in the Dow yesterday. |
| 0:33.5 | In fact, in today, I think at one point, we may have been down about 700 points, not |
| 0:38.5 | exactly sure where the low was, but it was a very weak day. |
| 0:42.3 | They came out right out of the gate selling. |
| 0:44.6 | In fact, we followed through today. |
| 0:46.3 | At one point this morning, the Dow was off another 450 points before we had a reversal. |
| 0:53.3 | Now we ended up closing positive 377. |
| 0:56.5 | What is that? |
| 0:57.5 | About an 800 point rally off the lows leading the comeback, where the financials, which of |
| 1:04.2 | course were leading the decline. |
| 1:06.5 | Many of these big banks took out their March lows yesterday and then took those lows out |
| 1:13.4 | again this morning before recovering today. |
| 1:17.3 | The airlines, they crashed below most of them. |
| 1:21.5 | Their March lows as well. |
| 1:23.6 | A lot of weakness in the market, of course, masking a lot of that as a few of these big |
... |
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