The Fed’s Medicine Makes the Economy Sicker – Ep 556
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 1 April 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
Government short circuiting capitalism.
Investors will rush to sell and there won’t be any buyers.
Politicians exploiting coronavirus to grab power, buy votes, hide blame.
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Transcript
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| 0:00.0 | The Peter Schiff Show. |
| 0:08.8 | Today was the first day of the second quarter. |
| 0:12.5 | A lot of investors were probably hoping to get this quarter started better than the last |
| 0:19.4 | one. |
| 0:20.4 | I mentioned on yesterday's podcast that it was the worst quarter for the stock market since |
| 0:25.5 | the 1987 stock market crash. |
| 0:28.2 | But I didn't mention, I didn't even realize, but it's actually the worst first quarter ever. |
| 0:35.1 | So if you just look at how the stock market has done in the first quarter of the year, |
| 0:40.4 | there has never been a year that started off as bad as this year. |
| 0:45.8 | So 2020, we are off to the worst start for the US stock market in the history of the US |
| 0:54.1 | stock market, meaning that even during the dark days of the 1930s, during the Great |
| 0:59.3 | Depression, the stock market never got off to as weak as it just did. |
| 1:05.4 | Yet despite that, you still have a lot of people out there that think that this is going |
| 1:09.8 | to be a quick bear market, right? |
| 1:12.0 | Because they still are fixated on the pin. |
| 1:14.5 | They still don't get the bubble, right? |
| 1:16.1 | They're still looking at the fact that, oh, this is manmade. |
| 1:19.1 | Where they keep hearing people saying, we did this to ourselves. |
| 1:23.0 | This is not a real bear market. |
| 1:24.8 | This is not a real recession, because we decided to shut down the economy. |
| 1:29.4 | So all we have to do is decide to start it back up again. |
| 1:32.9 | And everything is going to be fine, right? |
... |
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