🔴 The Great Rate Cut Rug Pull - Ep 1000
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 19 December 2024
⏱️ 63 minutes
🧾️ Download transcript
Summary
Jerome Powell's rate cut, market drops, economic risks, inflation, and the future of the economy.
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In this milestone 1000th episode of the Peter Schiff Show Podcast, Peter broadcasts from an unconventional setup due to technical issues, as he covers a dramatic day in the markets. Jerome Powell's Federal Reserve announces a 25 basis points interest rate cut to meet market expectations, but the stock market reacts negatively with significant losses. Peter discusses the historic losing streak in the Dow, investor optimism around speculative assets, and the financial risks posed by an expensive market amidst rising inflation and interest rates. He critiques Jerome Powell’s perception of a strong U.S. economy and labor market, highlighting negative data revisions and continuing economic vulnerabilities. Peter also addresses the implications of rising U.S. deficits, government spending, and a surging dollar on global inflation. He predicts further turbulence for the housing and financial markets, the potential for a bear market, and the likelihood of resumed Fed easing measures. Schiff concludes with insights on gold and silver investments, market disconnects, and political dynamics impacting economic policies.
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00:00 Introduction and Sponsorships
01:31 Market Overview
02:35 Federal Reserve's Interest Rate Cut
03:00 Market Reactions and Historical Context
05:40 Gold and Stock Market Analysis
15:56 Commercial Break
17:23 Economic Indicators and Current Account Deficit
22:24 Global Economic Impact and Predictions
34:43 Bitcoin and Cryptocurrency Update
35:02 Bitcoin's Decline and MicroStrategy's Moves
35:47 Congress and Social Security Spending
36:32 Trump's Stance on Bitcoin
38:31 Economic Indicators and Manufacturing Data
39:28 Retail Sales and Consumer Debt
40:46 Fed's Monetary Policy and Market Reactions
43:41 Industrial Production and Economic Weakness
45:17 Fed's Press Conference and Rate Cuts
48:31 Future Economic Predictions and Market Strategies
01:00:11 Closing Remarks and Personal Updates
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Transcript
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| 0:00.0 | You make no friends in the pits and you take no prisoners. |
| 0:05.0 | One minute, you're up half a million and soybeans and the next boom. |
| 0:07.0 | Your kids don't go to college and they've repossessed your vent. |
| 0:09.0 | Are you with me? |
| 0:10.0 | The revolution starts now. |
| 0:12.0 | Start now. |
| 0:14.0 | We have to pass the bill so that you can find out what is in it. |
| 0:18.0 | Turn those machines back on. |
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| 0:23.9 | Show me the money! |
| 0:25.7 | If we lose freedom here, there's no place to escape to. |
| 0:28.4 | This is the last stand on Earth. |
| 0:29.7 | The Peter Schiff Show is on. |
| 0:31.7 | I don't know when they decided that they wanted to make a virtue out of selfishness. |
| 0:35.7 | Your money. |
| 0:36.8 | Your stories. Your freedom. your stories, your freedom. |
| 0:39.1 | The Peter Schiff's show. |
| 1:02.3 | Today's podcast is sponsored by NetSuite, the easy-to-use cloud-based business management software for every aspect of your business. |
| 1:07.3 | Download the CFO's guide to AI and machine learning at NetSuite.com slash goal. |
| 1:10.7 | The guide is free to you at netsuite.com slash gold. This episode is sponsored by |
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