Weak Data Further Undermines Fed’s Credibility – Ep. 253

Weak Data Further Undermines Fed’s Credibility – Ep. 253

Summary: Today's big miss in the Nonfarm Payroll report indicates further proof for the Fed that the Q1 weak economic data was not transitory. Coupled with disappointing Labor Force Participation declines and increasing Trade Deficit numbers, the Fed will have no good news to justify a rate hike. All this news does not bode well for the U.S. dollar index, which closed at a new low for the year today. The next crisis is the dollar.

* Following yesterday's much stronger than expected May ADP Jobs report, the consensus was for 170,000 jobs and the actual number was 253,000
* The stage was set for another strong number for today's employment report
* But we didn't get it
* We got the official number from the U.S. government earlier this morning
* The consensus was for 185,000 jobs created
* We actually created, according to the government, just 138,00 jobs - a big miss
* In addition to that, they took last month's initial 211,000 report and they lowered that down to just 174,000
* In fact they made revisions to the prior month as well
* The official unemployment rate actually went down to 4.3%
* I think that is a new low
* Why did the unemployment rate drop?
* For the same reason it has been dropping; lots of people left the labor force
* Labor Force Participation once again dropped .02 to 62.7%
* That matches the all time record low
* We actually had more than 600,000 people leave the labor force in the month of May
* A new all-time record high
* In fact, breaking it down by part-time and full-time, all of the net new jobs added were part time jobs
* We actually lost 367,000 full-time jobs during the month of May
* That is the biggest decline in full-time employment in 3 years
* Of course, as usual, the jobs that we do create were in leisure and hospitality, education healthcare, temporary services
* We actually lost some information technology jobs, we lost jobs in the retail trade; small gains in the wholesale trade, a little better than normal in manufacturing and logging
* But a still a tiny portion of the overall jobs in goods-producing segments of the economy
* So we continue to create non-productive jobs which is another reason that the trade deficit continues to rise, and we'll get to that in a minute
* Weekly hourly earnings up just .02%, matching expectations on the lower end
* But they went back to last month's, originally reported as +.03% and they moved that down to +.2%
* So earnings are not growing, full-time jobs are disappearing, and this economy is weakening
* In fact, also yesterday, Challenger job cuts report announced layoffs surged in the month of May from 36,602 in April to 51,692 in May
* This is the highest number of announced layoffs of any month of the year
* That doesn't bode well for future job creation if all of a sudden we're getting a spike in layoffs
* In addition to the bad jobs report, which of course is going to weigh on GDP in Q2
* We got the trade deficit for April, which is the first month of the second quarter
* They were looking for a deficit of $46.1 billion
* Instead, the deficit ballooned all the way up to $47.6 billion
* From what was originally reported at $43.7 billion in March, revised that up to $45.3 billion
* So this is going to take away not only from Q2 GDP but it's going to go back and take away from Q1 GDP
* Remember, in my last podcast, I pointed out that the Federal Reserve, specifically, in their minutes said that before they raise rates again they want confirmation that the Q1 weak economic data was transitory
* Meanwhile all of the data that has come out since those minutes were released actually proves the opposite
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Jaksot(1087)

Silver's Epic Rally Signals Bitcoin's Imminent Collapse

Silver's Epic Rally Signals Bitcoin's Imminent Collapse

Peter Schiff forecasts an imminent Bitcoin crash, critiques Trump's economic policies, and highlights the surging silver market in this episode of The Peter Schiff Show.The Peter Schiff Show Podcast - Ep 1054In this episode of The Peter Schiff Show, Peter Schiff dives deep into the implications of Silver's recent surge and the ominous signs of an impending Bitcoin collapse. With keen insights, he critiques the current economic landscape shaped by Trump's policies and discusses the ramifications of AI and automation on the job market. Schiff questions the reliability of government statistics, emphasizing the looming risks of inflation and the realities of the labor market. He also warns listeners about the dangers of understanding the cryptocurrency market, urging them to reconsider their investments in light of potential economic turmoil. This episode embodies Schiff's unwavering commitment to revealing the truth behind financial markets and advocating for sound investment strategies.Chapters:00:00 Introduction and Opening Remarks00:54 Holiday Plans and Podcast Schedule03:24 Silver Market Analysis07:49 Gold and Silver Investment Advice11:09 Jobs Report and Inflation Data22:18 Trump's Economic Policies and Critique33:41 AI and Automation Discussion34:59 The Flawed Logic of Anti-AI Sentiment35:50 Bernie Sanders and the AI Debate37:25 Trump's Media Ventures and Financial Maneuvers44:39 The Looming Bitcoin Crash50:38 Investment Strategies and Market Predictions59:31 Supporting Independent Music01:03:24 Final Thoughts and Holiday WishesFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#BitcoinCrash #SilverInvestment #EconomicPoliciesOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

19 Joulu 1h 4min

QE is Back! Cost of Living Will Soar - Ep 1053

QE is Back! Cost of Living Will Soar - Ep 1053

QE is coming back — and President Trump isn’t happy about Peter Schiff saying it out loud. After Schiff’s Fox interview, Trump fired off a Truth Social post attacking him… but the math doesn’t lie. Washington’s spending is exploding, deficits are surging, and the Fed has no way to finance it without returning to quantitative easing.This episode is sponsored by NetSuite. Download the free “demystifying ai” at https://netsuite.com/goldIn this episode of The Peter Schiff Show, host Peter Schiff delves into the resurgence of Quantitative Easing (QE) and its implications for the economy. He argues that the return of QE is a clear signal that politicians, particularly Trump, are unable to fund their ambitious agendas without relying on monetary expansion. As markets begin to react to this reality, Schiff highlights the unraveling of the "Everything Bubble" and the inevitable departure from affordability that follows. With keen insight, he exposes the truths that politicians refuse to acknowledge, emphasizing that the consequences of QE will impact everyday Americans. Tune in as Schiff navigates these critical issues, offering a perspective rooted in economic reality.Chapters:00:00 Introduction and Opening Remarks00:55 Federal Reserve's Recent Actions03:23 Quantitative Easing Explained08:16 Market Reactions and Predictions12:11 Impact on Inflation and Employment30:45 Tariffs and Their Economic Impact39:41 Trump's Role in Inflation40:18 Biden's Inflation Policies41:29 Trump's Economic Policies Critiqued41:46 Fox News Interview Fallout46:20 Housing Market Reset48:10 Trump's Reaction on Social Media55:18 Debate Challenge to Trump56:09 Bitcoin vs. Tokenized Gold Debate01:09:42 Investment Advice and PredictionsFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#QE #QuantitativeEasing #EconomicImpactOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

12 Joulu 1h 12min

Raised Rate Cut Hopes Lift Markets - Ep 1052

Raised Rate Cut Hopes Lift Markets - Ep 1052

Peter Schiff critiques the Federal Reserve's policies, discusses the housing market crisis, and forecasts gold and cryptocurrency trends in this episode.This episode is sponsored by Hims. Start your free online visit today at https://hims.com/goldIn this episode of The Peter Schiff Show, Peter Schiff delves into the critical dynamics shaping today’s financial landscape. He dissects the recent market movements triggered by the anticipated Federal Reserve rate cuts and the implications for gold and silver prices. Schiff critiques the ongoing affordability crisis in housing and healthcare, highlighting the detrimental effects of government spending and inflation. He also explores the current state of the Bitcoin and cryptocurrency market, emphasizing the shifting sentiment as investors reconsider their positions. Listeners can expect a thorough analysis of how these trends intersect with broader economic policies and the enduring battle between capitalism and socialism. Tune in for Schiff's insights on navigating the complex financial terrain ahead.Chapters:00:00 Introduction and Market Overview00:55 Gold and Silver Market Analysis03:29 Federal Reserve and Economic Policies10:07 Housing Market and Affordability Crisis21:03 Impact of Potential Fed Chair Change24:19 Bitcoin and Cryptocurrency Market29:27 Holiday Spending and Trade Deficits31:53 Economic Growth and Capitalism vs. Socialism32:43 The Real Story of Thanksgiving39:59 Bitcoin and the Crypto Market54:17 Conclusion and Investment AdviceFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#FedRateHike #GoldMarketAnalysis #BitcoinTrendsOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

26 Marras 54min

The Fed's Forever Blowing Bubbles - Ep 1051

The Fed's Forever Blowing Bubbles - Ep 1051

Peter Schiff critiques the bursting crypto bubble, warns of impending market collapses, and discusses the implications of reckless monetary policies.This episode is sponsored by Policygenius. Head to https://policygenius.com/gold to compare free life insurance quotes from top companies and see how much you could save.In this episode of The Peter Schiff Show, Peter Schiff delves into the current financial landscape, emphasizing the ongoing collapse of the Bitcoin and crypto bubbles, while raising concerns about the potential fallout in other sectors, including AI and housing. He analyzes the precarious state of MicroStrategy and its impact on Bitcoin prices, challenging the validity of its business model. Schiff addresses the Federal Reserve's contradictory stance on inflation and tariffs, criticizing the government's fiscal policies that have led to rampant market bubbles. With insights into the healthcare crisis and IRS controversies, Schiff presents a stark reality of the economic situation, reinforcing his perspective on the unsustainable nature of current financial practices.Chapters:00:00 Introduction and Opening Remarks00:54 The Crypto Bubble and Market Bubbles04:14 AI Bubble and Its Potential07:05 Bitcoin's Decline and Market Reactions12:43 MicroStrategy and Bitcoin Treasury Companies24:09 Debate Challenges and Tokenized Gold35:18 FOMC Meeting Minutes and Job Reports36:50 Labor Market and Inflation Insights37:45 Tariffs and Their Impact on Prices39:14 Quantitative Easing and the Dollar41:04 Healthcare Crisis and Insurance Issues48:43 FOIA Lawsuit Against the IRS53:10 Publicity Stunt and Bank Shutdown01:09:21 Conclusion and Final ThoughtsFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#crypto #inflation #MicroStrategyOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

20 Marras 1h 9min

Crypto Carnage as Gold Eats Bitcoin's Lunch - Ep 1050

Crypto Carnage as Gold Eats Bitcoin's Lunch - Ep 1050

Peter Schiff dissects the crypto market collapse, evaluates gold’s surge in value, and critiques government policies impacting housing affordability.This episode is sponsored by Policygenius. Head to https://policygenius.com/gold to compare free life insurance quotes from top companies and see how much you could save.In this episode of The Peter Schiff Show, host Peter Schiff delves into the recent turmoil in the financial markets, highlighting the stark contrasts between precious metals and the declining crypto sector. He discusses the surge in gold and silver prices amidst government actions, the implications of potential government shutdowns, and the risky landscape of crypto investments, particularly Bitcoin's significant drop against gold. Schiff emphasizes the government's detrimental role in housing affordability and the proposed measures that could exacerbate financial instability. As always, he provides keen insights rooted in economic reality, urging listeners to consider the long-term implications of current market trends and policies.Chapters:00:00 Introduction and Opening Remarks00:54 Precious Metals Market Update05:08 Government Shutdown and Its Impact on Gold06:52 Crypto Market Analysis and Predictions10:28 Trump's Influence on Crypto and Economic Implications20:56 Fannie and Freddie: The Trump Trade31:29 Government's Role in Housing Affordability32:08 Impact of Tariffs on Housing Costs32:29 Immigration and Construction Labor Costs34:33 Credit and Mortgage Guarantees37:19 Proposed 50-Year Mortgages40:06 Eliminating FICO Score Minimums43:27 Assumable and Portable Mortgages54:29 Investment Opportunities in Gold and Silver01:01:43 Conclusion and Upcoming PodcastFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#crypto #bitcoin #goldOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

13 Marras 1h 1min

Data Confirms "Hot" US Economy Is Ice Cold - Ep 1049

Data Confirms "Hot" US Economy Is Ice Cold - Ep 1049

Peter Schiff examines the paradox of a hot U.S. economy amid cold realities, discusses cryptocurrency, and critiques political misconceptions and tariffs.This episode is sponsored by NetSuite. Download the free “Demystifying AI” at https://netsuite.com/goldIn this episode of The Peter Schiff Show, Peter Schiff delves into the stark contrast between the perceived strength of the U.S. economy and its underlying fragility. Listeners will gain valuable insights as Peter analyzes the gold market, Bitcoin, and economic realities that challenge political narratives. The discussion also touches on the implications of the New York mayoral election, misconceptions about communism, and Trump's contentious tariffs. With a keen focus on the economic policies shaping our lives, this episode is essential for anyone seeking a deeper understanding of today's financial landscape. Join Peter as he cuts through the noise and reveals the truth behind the headlines.Chapters:00:00 Introduction and Opening Remarks00:56 Gold Market Analysis03:24 Bitcoin and Cryptocurrency Insights12:18 Economic Reality vs. Political Claims19:04 New York Mayoral Election and Economic Policies31:13 The Impact of Free Public Transportation32:17 Misconceptions About Communism34:36 Trump's Unconstitutional Tariffs42:37 The Filibuster Debate55:32 Gold and Silver Market InsightsFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#USEconomy #CryptoInsights #NewYorkPoliticsOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

8 Marras 58min

Powell Dashes Hopes for a December Rate Cut - Ep 1048

Powell Dashes Hopes for a December Rate Cut - Ep 1048

Peter Schiff critiques the Federal Reserve's recent rate decisions, analyzes the implications for inflation and interest rates, and discusses gold's pivotal role in today's economy.This episode is sponsored by NetSuite. Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldIn this episode of The Peter Schiff Show, host Peter Schiff delves into the implications of the Federal Reserve's recent decisions, including its latest interest rate cut and the end of quantitative tightening. He unpacks the impact of these policies on inflation, the economy, and the stock market, while emphasizing the persistent threats posed by excessive monetary expansion. Schiff critiques the Fed's narrative of economic strength, arguing that the increasing gold price signals a deeper financial instability. Key discussions include the contrasting fates of gold and Bitcoin, the true state of employment, and the dangers of overvalued tech stocks. This episode is a must-listen for those seeking clarity on the current economic landscape and the potential consequences of the Fed's actions.Chapters:00:00 Introduction and Opening Remarks00:55 Federal Reserve's Recent Actions02:20 Impact on the Economy and Markets03:15 Discussion on Quantitative Tightening06:29 Interest Rates and Inflation17:31 Gold Market Analysis24:41 New Product Announcement at Schiff Gold31:39 Setting Up the Infrastructure31:49 Gold as a Medium of Exchange33:00 Bitcoin vs. Gold37:07 Stock Market and AI Valuations42:44 Tariffs and American Workers47:11 Inflation and the Fed's Policies55:09 Investment Opportunities and Final ThoughtsFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#FederalReserve #InterestRates #GoldMarketAnalysisOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

30 Loka 56min

Gold Successfully Tests $4k Support - Ep 1047

Gold Successfully Tests $4k Support - Ep 1047

Peter Schiff examines gold and silver market volatility, critiques the Fed's misguided policies, and discusses the implications of Trump's influence on the economy.This episode is sponsored by Policygenius. Head to https://policygenius.com/gold to compare free life insurance quotes from top companies and see how much you could save.In this episode of The Peter Schiff Show, Peter Schiff delves into the ongoing volatility in the gold and silver markets, analyzing recent corrections and investor sentiment. He discusses the implications of economic indicators and Federal Reserve actions, as well as the contrasting dynamics between Bitcoin and gold. Schiff critiques media portrayals of market trends, emphasizing the persistent skepticism surrounding gold investments. With insights on Newmont's earnings and a critical examination of government spending, Schiff articulates his perspective on the future of precious metals and the broader economic landscape. Listeners can expect a thought-provoking analysis that challenges mainstream narratives and reinforces Schiff's established views on financial prudence and market realities.Chapters:00:00 Introduction and Opening Remarks00:55 Gold and Silver Market Volatility03:40 Gold's Correction and Market Reactions07:47 Investor Sentiment and Media Coverage13:53 Economic Indicators and Federal Reserve Actions20:54 Newmont's Earnings and Market Skepticism27:38 Bitcoin vs. Gold: Market Dynamics29:45 Trump's Ballroom and Crypto Industry Influence34:20 Trump's Ego and the National Debt35:39 Government Shutdowns and Trump's Legacy37:41 Trade Negotiations and Reagan's Legacy41:34 Government Investments and Market Interference48:15 Crypto Collateral and Market Risks55:57 YouTube Shadow Banning and Subscriber Growth01:03:55 Gold and Silver Investment OpportunitiesFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/newsFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/books#goldmarket #cryptocurrency #investingstrategiesOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

24 Loka 1h 5min

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