The Year of Living Dangerously in Review – Ep 765

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 5 January 2022

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Peak speculation in 2021 lead to meme stocks, silly named crypto, NFTs, and all time record highs for:

* Issuance of SPACS
* Mergers & acquisitions
* Corporate buy-backs
* IPOs from money losing companies
* IPOs from regular companies
* Home loans
* Trade deficit
* Government borrowing in a non-recession year
* Bitcoin price

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Transcript

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0:00.0	The Peter Ships Show
0:09.2	Today's podcast is sponsored by Ladder.
0:11.7	Ladder makes it fast and easy to get affordable term life insurance without leaving your home.
0:17.0	Just go to ladderlife.com slash goal today to see if you're instantly approved.
0:21.5	Today's podcast is also sponsored by Mint Mobile.
0:24.9	Mint Mobile is for people who hate their phone bills and are ready to cut their ties with
0:28.8	Big Wireless.
0:30.0	You can cut your wireless bill down to 15 bucks a month and get a planned ship to your
0:34.5	door for free at MintMobile.com slash goal.
0:38.5	Well welcome everybody to the first podcast of 2022.
0:43.5	As I said in my last podcast of 2021, 2021 I think was the year of peak speculation.
0:53.6	All sorts of crazy stuff happened in 2021.
0:58.0	You had the phenomenon of meme stocks.
1:01.6	You had the introduction of the NFTs.
1:04.6	You had the craze in all these altcoins with crazy names.
1:09.6	Everything was going up.
1:10.9	You had record issuance of SPACs.
1:14.6	People were buying pigs in a poke throwing money at anything with a symbol, not even knowing
1:19.8	what they were going to buy.
1:21.6	It was a record year for mergers and acquisitions.
1:25.7	It was also a record year for stock buybacks.
1:30.0	I think about $850 billion in buyback volume, that beat the last record which was set back
	...

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