Con Job Report – Ep. 87

Con Job Report – Ep. 87


* Once again, a week of worse than expected economic data punctuated by another better than expected non-farm payroll report from the government
* ADP private sector payroll report was slightly below estimates
* 5,000 manufacturing jobs lost - 3rd consecutive monthly decline
* Unemployment rate dropped
* Labor participation rate up to 62.9 - .2% above lowest point
* Large sector of labor force still comprised of older workers
* Teens, twenties and thirties are at all-time lows
* Older Americans want part-time jobs, so increase of part-time jobs contribute to increase in all jobs
* Given the strong government jobs number, the media is discounting all the weak data, including GDP, productivity, consumer spending and industrial production
* The jobs we're creating do not reflect economic strength
* The weekly unemployment numbers are hovering at 42-year lows
* Does anyone believe that this is the strongest economy in 42 years?
* The hiring numbers are suspect to begin with because of the government's assumptions
* The Trade Deficit dropped not because our exports surged, but because out imports plunged
* Our economy is too weak to support a greater number of imports
* A closer look at the data behind the government jobs number actually supports the rest of the weak economic data
* Personal Income and Spending on the month missed estimates
* May Manufacturing PMI dropped slightly
* April Factory Orders fell by more than expected
* Year over year, orders are down 6.4%
* 6th consecutive month that factory orders have been down year over year
* This has only happened in America during a recession
* Mortgage applications fell sharply on the week - 7.6% decline, led by a 12% decline in re-fi's
* May Services PMI fell to 56.2 - lowest level since January
* ISM Non-Manufacturing Index dropped to 55.7 - the lowest level of the year
* The revision to Q1 Productivity - 3.1% decline
* We also had a decline in 2014 Q4
* Corporate profits plunged 5.9% in Q1
* Unit Labor Costs surged by 6.7% - this does not represent wages
* All this data predicts future layoffs
* The Fed knows this, so they are reluctant to raise rates
* The Bloomberg Weekly Consumer Comfort Index fell to 42.5 the 8th consecutive decline - the first time in its 30 - year history
* The Dow continued to decline on the jobs report
* NASDAQ still hanging in
* Margin debt is at a record high
* The dollar was stronger on the week
* The euro finished positive
* By next year European inflation will force the Bundesbank to retreat from QE
* Gold was down on the week, as euro strength signals QE less likely in Europe
* Expectations of rising interest rates have been suppressing gold, but when reality rears its ugly head, the sellers will be gone and the buyers will be out in full force
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SchiffRadio Podcast Episode 13

SchiffRadio Podcast Episode 13

Episode 13 Synopsis: Treats on Wall Street Equal one Big Trick. Belief that QE worked sparks optimism: * New record high in Dow Jones & S&P * NASDAQ highest since 2000 * Dollar index closed at a 4-year high * Yen at a 6-year low * Gold/Silver prices at a 4-year low * Gold Stocks at a 10-year low or more Privacy & Opt-Out: https://redcircle.com/privacy

6 Marras 201428min

SchiffRadio Podcast Episode 12

SchiffRadio Podcast Episode 12

Episode 12 Synopsis: Greenspan's QE Criticism Too Little Too Late * FOMC declares "substantial improvement" in economy. * Does this narrative reflect the best possible spin or ignorance? * Behind the 3.5% GDP number: * Deflator - 1.3% indicates decrease in inflation. * 4.6% surge in gov't spending * Big drop in trade deficit resulting from drop in crude oil prices adds 1.3% to GDP Privacy & Opt-Out: https://redcircle.com/privacy

2 Marras 201434min

SchiffRadio Podcast Episode 11

SchiffRadio Podcast Episode 11

Episode 11 Synopsis: Where is the Apology? Preview of the Michael Brown Grand Jury case does not support liberal media's narrative. * The officer knew that Michael Brown had just robbed a convenience store. * The bullets entered Michael Brown from front as he was approaching the officer. * Blood evidence on Michael Brown indicates he was moving toward the officer. * Wounds in upper arm indicate he did not have his arms in the air. * Michael Brown was shot in his thumb at extremely close range. * A majority of eyewitnesses support the officer's testimony Privacy & Opt-Out: https://redcircle.com/privacy

2 Marras 201438min

SchiffRadio Podcast Episode 10

SchiffRadio Podcast Episode 10

Episode 10 Synopsis Hillary's Fractured Economic Theory: * Raising the minimum wage will create jobs. * Businesses don't create jobs; the government creates jobs. * Regan Economics "failed spectacularly". * Clinton's economy was based on "arithmetic", not a bubble. Privacy & Opt-Out: https://redcircle.com/privacy

31 Loka 201420min

SchiffRadio Podcast Episode 9

SchiffRadio Podcast Episode 9

Episode 9 Synopsis * Deflation Spin Cycle: Peter debunks recent articles "redefining" deflation. * QE Infinity: Brandeis economics professor predicts the Fed doesn't need an exit strategy. Privacy & Opt-Out: https://redcircle.com/privacy

29 Loka 201421min

SchiffRadio Podcast Episode 8

SchiffRadio Podcast Episode 8

This week, we're releasing a series of podcasts to get current information out on a more basis. We appreciate your feedback on this new format. Episode 8 Segment 1: * Contrary to GDP number, consumers are still struggling. Privacy & Opt-Out: https://redcircle.com/privacy

28 Loka 201413min

SchiffRadio Podcast Episode 7

SchiffRadio Podcast Episode 7

Episode 7 Synopsis * More deflation/inflation propaganda * The Fed prefers inflation because at least they know how to fight it * Money printing in Venezuela* Bloomberg warns Yellen not to follow Sweden's example * Obamacare premiums going up after the election* Mark Cuban's plan to limit student loans * Wells Fargo employee demands $10,000 raise for himself and other employees * British Minister under fire for suggesting intellectually disabled should be able to work for less than minimum wage * News about QE4 * Yellen ironically speaks up on wealth inequality Privacy & Opt-Out: https://redcircle.com/privacy

21 Loka 20142h 12min

SchiffRadio Podcast Episode 6

SchiffRadio Podcast Episode 6

Episode 6 Synopsis * Big downside moves in global equity markets * U.S. stock market trends * Gold moves upward * U.S. Dollar weakness * A detailed analysis of this month's FOMC minutes * Share buybacks and other artificial boots to the stock market * More Obamacare blowbacks against the job market and employee healthcare * The straight story on misleading reports on the economy * How California labor law put a vineyard out of business * Interview with Paypal co-founder Peter Thiel in his new book Privacy & Opt-Out: https://redcircle.com/privacy

21 Loka 20142h 20min

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