Tariffs Are Not Good for Workers

Tariffs Are Not Good for Workers

NASDAQ New High
The stock market had one of its best days of the year; I think it was the second best day. The Dow was up 440 points - just under 1.8%. The NASDAQ was up 132 points; about the exact same percentage as the Dow. The NASDAQ is now at an all-time record high! It closed at 7,60.81. That is a new record. We have taken out the high from before the 10% correction. The NASDAQ is the only major index that has done that. That is not the case for the Dow, the S&P or even the Russell 2000, but the NASDAQ has taken off.
Optimism Around Stocks Not Affected by Tariffs
Remember I talked about this on my last podcast; people are trying to create the idea that these tariffs might be good for U.S. based companies, maybe some of our technology companies. I don't know how people are trying to spin this thing, but there's a lot of optimism about the sector of the economy that people believe will be not affected by the tariffs. Maybe there is a narrower set of stocks that everybody wants to pile into, and those stocks are disproportionately in the NASDAQ.
Perfect Nonfarm Payrolls Report
But the catalyst today was the perfect Nonfarm Payroll Report that came out today. If I were a conspiratorial person, which I am not, you could really say, "Wait a minute. This looks too good to be true. This is just what the doctor ordered ." Remember, last time we had the jobs report, even though the jobs number itself was weaker than expected, the markets were spooked by the bigger jump in wages. In fact, a lot of people thought that the 2.9% YoY growth in wages, and I think the month number was up maybe +.3, that that was really the catalyst for the big sell-off that we had. In fact, that was the number that everybody was looking for; not maybe the headline number, but the wage number. People wanted to confirm that wages were really growing.
Market Worries Boost in Employment Might Hike Wages Too Much
Trump, of course, every time he talks, he talks about the enormous growth in wages that is really not taking place, although, the President talks about a lot of things that aren't happening and claims credit for them. But the market was worried that we might get a bigger boost in wages which might mean inflation is coming, maybe the Fed will have to raise rates 4 times, instead of 3 times.
Beautiful Statistics
But yesterday, I watched the President's speech, and I'll get to that later, when he talked about the tariffs. One of the things he was talking about when he was talking about the statistics, and specifically he was talking about the jobs numbers and the unemployment numbers - he referred to the statistics as being "beautiful". Everything was perfect, we had record low numbers: African-American unemployment was down, unemployment rate the lowest in I don't know how many years, and he said, "These statistics are beautiful!" That is his new word to describe government employment statistics.
Phony, Fake, Fraud, a Joke, Fiction, a Hoax
Well he had different words to describe those identical statistics when he was a candidate, and beautiful wasn't among them. The words that he used as a candidate when describing the government jobs numbers were: phony, fake, fraud, a joke, fiction, a hoax. Those were the adjectives he used when he was a candidate. Now he says the numbers are beautiful. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Jaksot(1085)

Trump Won. Now What? - Ep 989

Trump Won. Now What? - Ep 989

Trump wins 2024, repeating 2016 win. Markets react with highs, despite unchanged economy woes. Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldPeter Schiff offers an in-depth analysis of Donald Trump's historic second term win, comparing it to Grover Cleveland's non-consecutive terms. Schiff critiques Trump's economic promises, tax cuts, and deregulation efforts, arguing they complicate existing fiscal problems rather than providing solutions. He highlights the disparity between media portrayal of the economy and the public's experience, emphasizing long-term issues such as the escalating national debt and rising interest rates. Schiff also discusses market reactions, potential impacts on stocks, cryptocurrencies, and commodities like gold. He delves into media bias and corruption, his own legal battles, and concerns for future economic stability under Trump's presidency.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction and Opening Statements01:22 Trump's Historical Win and Economic Analysis06:38 Media Reactions and Public Sentiment11:10 Market Reactions and Financial Implications20:40 Comparing Economic Conditions: 2016 vs. 202425:47 Challenges Ahead for Trump's Second Term32:42 Political Gridlock and Tax Cuts33:45 Impact of Tax Cuts on Tips and Overtime34:45 Consequences of Exempting Social Security from Taxes36:21 Inflation and Economic Concerns38:17 Historical Context: Liz Truss and Tax Cuts39:59 The Bond Market's Role in Economic Stability44:02 Trump's Economic Promises and Realities46:04 Criticism of Trump's Policies50:11 Personal Legal Battle and Government Corruption01:01:41 Conclusion and Call to Action#TrumpWin #EconomicAnalysis #GovernmentCorruptionOur Sponsors:* 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

7 Marras 20241h

Data of the Dead - Ep 988

Data of the Dead - Ep 988

Peter Schiff analyzes recent economic data, jobs report, GDP numbers, inflation concerns, and criticizes government policies. He discusses impacts on markets, gold, and cryptocurrency.Support our sponsors:Get 15% off OneSkin with the code GOLD at https://www.oneskin.coGet $20 credit by being one of the first 500 traders. https://kalshi.com/goldNew song "Jerk" by Laughing Cats: https://open.spotify.com/album/6lCPwgHxmdSoPffsPofkXa🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffTimestamps:01:41 Economic Data Overview02:41 GDP and Consumer Spending Analysis03:55 Inflation and Government Spending06:23 Job Cuts and Personal Income12:28 Manufacturing Sector Insights15:09 October Jobs Report Preview15:23 Sponsor Message: OneSkin17:05 Personal Update and Music Promotion19:56 October Jobs Report Analysis26:24 Market Reactions and Predictions29:46 Sponsor Message: Kalshi34:51 MicroStrategy vs. Newmont Mining: A Market Analysis42:23 Bitcoin and Market Sentiment45:24 The Contrarian Investment Approach46:31 The Importance of a Constitutional Republic47:34 The Trump Economic Miracle: Fact or Fiction?50:49 Voting Strategy for Libertarians56:51 Conclusion and Final Thoughts#gold #mstr #bitcoinOur Sponsors:* 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

1 Marras 202453min

U.S. Consumers More Reliant Than Ever on Foreign Producers - Ep 987

U.S. Consumers More Reliant Than Ever on Foreign Producers - Ep 987

Kamala Harris' election odds, Trump's market impact, economic data, job reports, consumer confidence, and record-high gold.Cut your wireless bill to $15/month at https://mintmobile.com/gold. $45 upfront payment required. For new customers on the first 3 month plan only.Market Predictions, Election Insights, and Economic Realities Peter Schiff addresses the economic landscape, election dynamics, and market predictions. He critiques Kamala Harris's low betting odds, Trump's rise in the polls, and the weak job market, emphasizing that the economic data contradicts the portrayal of a strong economy by the media. Peter discusses the trade deficit, consumer confidence, and the implications of the Biden administration's policies. He also explores the effects of potential tariffs, tax cuts, and deficits on inflation and suggests that investor behavior towards gold mining stocks and Bitcoin signals broader economic trends. Peter expresses dissatisfaction with the Puerto Rican government's actions regarding his bank and hints at future revelations. This episode provides a detailed analysis of the interplay between politics and economics and serves as a call to think critically about the upcoming election and its impact on the economy.Sign up for Peter's most valuable insights at https://schiffsovereign.comFree Reports & Market Updates: https://www.europac.comSchiff Gold News: https://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: https://twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: https://facebook.com/peterschiffTimesstamps:01:03 Introduction and Market Update01:42 Gold and Silver Price Surge04:45 Impact of Fed Rate Cuts07:24 Economic Indicators and Job Market Analysis08:35 Inflation and Bond Market Dynamics10:39 Gold Market Trends and Predictions26:47 Trump's Influence on Markets33:16 Understanding Direct and Indirect Taxes33:53 Trump's Tariffs and the BRICS Summit34:39 Impact of Tariffs on the Dollar36:44 Global Shift Away from the Dollar43:30 Paul Tudor Jones on Inflation and Debt48:57 The Looming Debt Crisis57:48 Conclusion and Final ThoughtsOur Sponsors:* 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 202453min

Dismantling the Dollar Brick by Brick - Ep 986

Dismantling the Dollar Brick by Brick - Ep 986

Gold Market Insights, Dollar Debate, and Trump's Tax ProposalsGet $10 off your first month’s subscription + free shipping at https://nutrafol.com when you use promo code GOLDRegister for the New Orleans Investment Conference: https://neworleansconference.com/schiff/Peter Schiff brings an in-depth analysis of recent market volatility, focusing on the enduring yet controversial performance of gold amidst economic uncertainty. He dissects Newmont Mining's significant stock drop despite strong earnings, critiques market reactions, and evaluates potential highs for gold stocks. Schiff scrutinizes Trump's tax proposals, illustrating their impracticality due to extensive government spending and misconceptions about tariffs. He offers perspectives on the US dollar's potential crash following a period of rally, emphasizing the global shift towards gold for stable international trade. Schiff also debates the benefits of a gold standard, insights into rising treasury yields, labor costs, and currency fluctuations. Additional topics include critiques of government policies such as the FTC's 'click-to-cancel' rule, and a call to prioritize free market principles for economic health.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:00 Introduction and Opening Remarks01:35 Upcoming New Orleans Investment Conference04:03 Gold and Silver Market Analysis06:11 Newmont Mining Earnings Report13:56 Investment Opportunities in Gold Stocks20:28 US Treasury Yields and Janet Yellen's Remarks26:04 Trump's Tax Proposals and Historical Context29:04 The Evolution of Payroll Taxes29:47 Trump's Misunderstanding of Tariffs31:24 MicroStrategy and Bitcoin33:38 Debating the Future of the Dollar40:02 The BRIC Summit and Dollar Alternatives45:56 Government Meddling in Subscriptions52:00 Labor Market Regulations in the UK56:49 Conclusion and Final Thoughts#GoldMarket #USeconomy #FederalReserveOur Sponsors:* 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

25 Loka 202455min

Gold and Silver Are Poised to Melt Up - Ep 985

Gold and Silver Are Poised to Melt Up - Ep 985

Gold rises, Fed policies, inflation, QE, Trump, Bitcoin, BRICS, debt.Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldSign up for a $1/month trial period at https://shopify.com/goldPeter Schiff delves into recent economic developments and market trends, returning from the Orlando Money Show to share his insights. He discusses the significant rise in gold and silver prices, the unexpected increase in long-term bond yields following the Fed's rate cuts, and critiques of mainstream media narratives about the economy's strength. Schiff argues that underlying economic conditions are weaker than reported, leading to higher inflation and growing budget deficits. He touches on the sell-off in U.S. treasury bonds, the BRICS Summit's implications for the dollar, and the illusion of wealth created by inflation. Schiff analyzes Donald Trump's economic policies, including the potential for a 'Trump dump' on Bitcoin and the harms of new tax schemes and tariffs. He concludes by advocating for an honest default on debt to avoid hyperinflation, highlighting the need for realistic economic solutions to manage the impending crisis effectively.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff01:03 Introduction and Market Update01:42 Gold and Silver Price Surge04:45 Impact of Fed Rate Cuts07:24 Economic Indicators and Job Market Analysis08:35 Inflation and Bond Market Dynamics10:39 Gold Market Trends and Predictions26:47 Trump's Influence on Markets33:16 Understanding Direct and Indirect Taxes33:53 Trump's Tariffs and the BRICS Summit34:39 Impact of Tariffs on the Dollar36:44 Global Shift Away from the Dollar43:30 Paul Tudor Jones on Inflation and Debt48:57 The Looming Debt Crisis57:48 Conclusion and Final Thoughts#GoldMarket #Inflation #EconomyPredictionOur Sponsors:* 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

23 Loka 202456min

Investors and Gamblers Are Betting on Trump - Ep 984

Investors and Gamblers Are Betting on Trump - Ep 984

Stock and Bitcoin trends, Fed's influence on metal prices, policy impacts on economy, and tariff effects on manufacturing.For 20% off your Momentous order, head to https://livemomentous.com and use code GOLD.Get $20 credit by being one of the first 500 traders. https://kalshi.com/goldPeter provides a comprehensive analysis of the current economic and political landscape. Beginning with the record highs in the Dow Jones and the booming interest in Bitcoin, Peter attributes market optimism to Donald Trump's rising poll numbers and potential tax cuts. He critiques the Federal Reserve's rate cuts and their long-term implications on interest rates and the U.S. dollar. Peter dives into the disconnect between rising long-term interest rates and stable gold prices, and highlights the growing interest in Bitcoin among traders.He also scrutinizes Kamala Harris's faltering poll numbers and her economic proposals, arguing against government intervention in business funding and advocating for free-market solutions. Delving deeper, Peter discusses the negative impact of tariffs and the decline of American manufacturing, urging for deregulation and tax cuts. Concluding with a discussion on the hidden costs of tariffs, taxes, and government spending.Sign up for Peter's most valuable insights at https://schiffsovereign.comFree Reports & Market Updates: https://www.europac.comSchiff Gold News: https://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: https://twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: https://facebook.com/peterschiffTimestamps:00:00 Introduction and Orlando Money Show Announcement01:51 Market Trends and New Highs02:42 The Trump Trade and Bitcoin09:38 Gold and Silver Market Analysis17:48 Oil Prices and Political Influence20:46 African American Vote and Political Strategies33:31 The Flawed Business Model33:52 Unconstitutional Programs and Racial Criteria36:34 The Problem with Government Funding38:44 Occupational Licensing Laws42:34 Tariffs and Economic Misconceptions45:58 The Decline of American Manufacturing51:12 The Real Impact of Tariffs53:58 The History and Consequences of Taxation57:32 Conclusion and Final ThoughtsOur Sponsors:* 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

15 Loka 202454min

You Can’t Depend on Politically Crafted Government Data - Ep 983

You Can’t Depend on Politically Crafted Government Data - Ep 983

Critiquing job reports. Questioning the Fed. Scrutinizing data. Inflation methods. Political motives. State preparedness.Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/goldLaughing Cats - GYB OFFICIAL MUSIC VIDEO: https://youtu.be/dSdTZ3judPs?feature=sharedSchiff critically examines the recent jobs report, labeling it as misleading and detailing the implications of government employment statistics. He questions the significance of the Federal Reserve's decisions on interest cuts, given what he considers unreliable government data. Schiff delves into the complexities of inflation reports, expressing skepticism on the methodologies for calculating inflation and unemployment. He also addresses the political motivations behind such statistics. Emphasizing Milton Friedman’s perspective, Schiff highlights government spending as the true measure of taxation and inflation. Additionally, he critiques the inefficiencies of FEMA and advocates for state-level emergency preparedness. Schiff touches on his wife's new music project and encourages support for her band, 'Laughing Cats.' The episode wraps up with Schiff’s comments on upcoming content and a holiday observance note.Sign up for Peter's most valuable insights at https://schiffsovereign.comFree Reports & Market Updates: https://www.europac.comSchiff Gold News: https://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: https://twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* 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

11 Loka 202457min

Government Hiring Spree Means Higher Taxes and Inflation - Ep 982

Government Hiring Spree Means Higher Taxes and Inflation - Ep 982

The September Jobs Report: A Deeper Dive into Government Hiring and Market ImplicationsCut your wireless bill to $15/month at https://mintmobile.com/gold. $45 upfront payment required. For new customers on the first 3 month plan only. Get $20 credit by being one of the first 500 traders. https://kalshi.com/goldPeter unpacks the September jobs report, highlighting the surprising surge in government hiring amidst looming elections. He questions the authenticity and timing of these figures, suggesting political motivations behind the data boost for the Biden-Harris administration. Peter contrasts private versus government job creation, explaining the economic implications of these new roles funded by taxpayers. As he laments the service sector's dominance and the fading strength of manufacturing, he predicts post-election job revisions. Peter also advises against broad faith in market indicators and reiterates the urgency of investing in gold and silver stocks, casting a skeptical eye on Bitcoin's faltering performance compared to gold. Overall, he stands firm against superficial economic narratives, advocating for practical investment strategies informed by a realistic outlook.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffTimestamps:00:42 Jobs Report and Political Implications04:18 Analyzing the Jobs Data09:57 Government vs. Private Sector Jobs14:53 Economic Consequences of Government Hiring25:08 Labor Market Developments and Automation32:51 Employer Liability and Automation34:22 Market Reactions and Fed Rate Cuts36:20 Oil Prices and Inflation Concerns37:51 Manufacturing Recession and Service Sector Strength45:49 Gold and Silver Market Dynamics52:59 Emerging Markets and Investment Opportunities54:23 Bitcoin's Bear Market Analysis57:28 Conclusion and Final Thoughts#jobsreport #governmentjobs #inflationOur Sponsors:* 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

5 Loka 202455min

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