The Most Obvious Crisis Almost No One Saw Coming – Ep 769

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 19 January 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

* Stock market is in bad shape, but bond market is worse.
* Silver rallies.
* Any negative yield in bonds is a positive for gold.
* Numbers on economy getting weaker as numbers on inflation get stronger.
* Fed can’t fix an inflation induced recession with more inflationary policies.
* The crash I wrote about in my 2007 book, Crashproof, is happening right now.

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Transcript

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0:00.0	The Peter Ships Show
0:09.0	Today's podcast is sponsored by Shopify.
0:11.9	Shopify has a platform designed for anyone to sell anywhere giving entrepreneurs like myself
0:17.2	the resources once reserved for only the biggest businesses.
0:20.9	To get a free 14 day trial and full access to Shopify's entire suite of features, go to
0:26.4	shopify.com slash gold.
0:29.4	Coming off a three day holiday weekend, stocks were off to a rough start on Tuesday.
0:34.9	The Dow Jones down 543 points, about 1.5%.
0:40.8	But the real damage on the NASDAQ, that index tanked by 2.25%.
0:47.0	Although the Russell 2000 was actually down by over 3%.
0:51.4	But I think inside the NASDAQ, the stocks that got hit the hardest were the biggest winners
0:57.2	of 2021, the most overpriced momentum stocks, the ones that comprise the portfolio for
1:04.2	the ARC innovation fund.
1:05.8	I've been talking about that.
1:07.6	Kathy Woods flagship fund, down another 4% today, ARC innovation.
1:13.3	It's now down 52% I think from its high last year.
1:18.5	But as bad as the bloodbath was in the stock market, it's even worse in the bond market.
1:24.8	In fact, I think it's the bond market that's driving the stock train.
1:29.5	Bonds are off to their worst annual start ever.
1:32.8	I think for the stock market, this is just a worse start since 2016.
1:37.8	I think maybe it's the third worst start over the last 30 years.
1:41.8	In fact, both the NASDAQ and the Russell 2000 are down close to 7% so far this year.
	...

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