In this episode of the Keiser Report, Max and Stacy discuss the great narrowing of the S&P 500 due to the rise of FAANG Stocks. The FAANG stocks, which include Facebook, Apple, Amazon, Netflix and Google (now Alphabet), have gained a whopping $260 billion in value since March 1, 2017. The rest of the S&P has been relatively unchanged in that period. Keiser talks about how Amazon has destroyed the department store.
Max also takes some shots at Warren Buffett, explaining he hasn’t actually created anything or produced anything. News in the public space along with censorship and the corporatization of news in America is reviewed. The misplaced fear related to foreign and alternative media and journalism is outlined.
In the second half, Max interviews Michael Pento of pentoport.com about debt and taxes in the age of Trump. We have featured Pento many times at Pinnacle. The money manager used to work for Peter Schiff.