Democrats took Texas and the Senate... Peter Schiff explains why 2028 is lost for the GOP, why deficits explode, and why gold is the only winner.
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The Democrats just took the Senate and flipped Texas... and Peter says the markets still have no idea what comes next.
Peter Schiff called the sweep a day before the vote, and the result was bigger than even he expected: nine Senate seats flipped, 56 Democratic senators, 44 to 45 House seats, and Texas electing its first Democratic governor in 36 years. No Republican has won the White House without Texas since 1968. Peter explains why that sets up a Democratic socialist president in 2028 with a filibuster-proof Senate, and why Trump, punished by voters for lying about the economy, will taco out of his veto pen and hand the Democrats every dollar of spending they want. Deficits explode, the debt ceiling goes, and $5,000 stimmy checks are back on the table.
Then the market read: a 1,400-point rally that reversed into a 2,000-point drop as the AI trade cracked, Nasdaq down 4% on the week, while gold held $4,070, silver 51.82, and the miners jumped 9.6%. Bitcoin is sitting on Strategy's cost basis after six years, and Peter says the Trump trade that propped it up is finished. Plus the jobs report, consumer credit exploding because people are broke, and why Fox News still can't admit there is no Trump boom.
Chapters:
00:00 Deficits Inflation Warning
01:01 Midterm Prediction Recap
02:33 Why Trump Won 2016
06:33 Promises vs Reality
08:57 Ballroom and War Backlash
12:24 Historic Democratic Wave
18:27 Texas Florida Shift
24:25 2028 Landslide Forecast
29:12 Veto Myth Spending Surge
32:23 Spending Surge Ahead
33:48 California Wealth Tax Reality
36:00 Wall Street Whiplash
37:10 AI Bubble Deflates
39:30 Gold Silver Breakout
41:37 Bitcoin Warning Signs
45:23 Trump Trades Unwind
51:01 Debt Ceiling and Price Caps
52:34 Oil War and GOP Fallout
55:34 Jobs Data and Credit Stress
01:00:55 Protect Yourself Plan
01:02:28 Final Sign Off
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