Inflation Insanity Continues – Ep 848
The Peter Schiff Show Podcast
00:00
The Dow Jones Rallyed Off the Lows
As soon as that bombshell was dropped on the markets they tanked. The Dow went from up 300 to down about 600. So almost an immediate 900 point drop. And I think that is because we got the news coming out of the UK about the about face on the tax cuts and so traders just started buying stocks and buying bonds completely forgetting about the fact that they were about to get the CPI number. Of course at some point the markets are going to understand the proper reaction to these worse than expected inflation numbers and instead of buying dollars and selling gold they'll sell dollars and buy gold but that day was not Thursday.
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