Less Loose Will Lower Markets, Not Inflation – Ep 766
The Peter Schiff Show Podcast
00:00
Are They Going to Keep Tightening Policy?
A lot of millennials who have been making a lot of money trading meam stocks and crypto currencies, they've got so much money they figure why have a job? I'm just getting rich off my crypto and my meam stocks. And ironically, now the fed thinks that one of the reasons that they can raise rates to fight unemployment is because unemployment is so low. But when they create a reverse wealth effect by tightening licy, and they pricked these bubbles and they wipe out all these millennials that were counting on those paper profits instead of a pay check, now of a sudden these guys are broke, and they're back in the labor force looking for jobs. Now this is a problem
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