The Debt Time Bomb May Soon Detonate – Ep 566
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 25 April 2020
⏱️ 100 minutes
🧾️ Download transcript
Summary
The economy was sick long before the coronavirus.
Businesses need big government to bail them out because of big government.
The economy will be a lot smaller at the end of this year.
Economic stimulus is actually a sedative.
Working from home will be a lasting change that will affect real estate.
Q&A
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Transcript
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| 0:00.0 | The |
| 0:09.2 | market's finished the week on a down note or actually on an up note in a down week. |
| 0:16.2 | This was the first week I think in the past three where the markets were down. |
| 0:21.4 | The Dow though ended up with a 260 point gain on the day. |
| 0:27.4 | The markets continued to ignore all of the week economic data. |
| 0:32.2 | We got more week economic data out today, again, even weaker than everybody expects. |
| 0:38.5 | But nobody really cares at this point about the data or how weak it is because they simply |
| 0:44.2 | attributed all to the coronavirus. |
| 0:47.9 | It's a self-inflicted wound. |
| 0:50.8 | Forgetting about the fact that we were actually wounded anyway. |
| 0:53.5 | People don't appreciate the problems that the US economy had. |
| 0:59.1 | The very deep-seated structural problems that lay beneath that bubble that people still |
| 1:05.8 | haven't come to terms with. |
| 1:07.2 | They're still focusing on the effects of the coronavirus and not realizing that the economy |
| 1:14.4 | was very sick long before we got infected with the coronavirus. |
| 1:20.5 | Now the gold market continues to inch higher, gold corrected a bit today, but the gold |
| 1:25.2 | stocks continue to move higher. |
| 1:27.3 | They had another positive day to day. |
| 1:29.9 | They are leading the way I spoke extensively about the mining sector on the podcast that |
| 1:35.6 | I did on Wednesday. |
| 1:37.6 | So no real reason to get into it today. |
| 1:40.9 | Other than the fact that I mentioned on that podcast that there's really no coverage |
... |
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