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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Episoder(1086)

SchiffRadio Podcast Episode 5

SchiffRadio Podcast Episode 5

Episode 5 Synopsis: * Debunking Ned Davis' predictions on gold * Chicago Fed president Charles Evans hints that the Fed can't raise interest rates * Alan Greenspan gives Fed a pass on CNBC * Brokerage houses hit by FINRA arbritation results * Eurozone low inflation 'scare' * Collapse in Fannie and Freddie stock * The numbers behind the weekly economic data Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Okt 20142h 24min

SchiffRadio Podcast Episode 4

SchiffRadio Podcast Episode 4

Episode 4 Synopsis * Launch of the iPhone 6 * Surprising employment arbitration results * Housing market rolls over * Hotel minimum wage * World Bank head claims that QE works Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

28 Sep 20142h 23min

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

21 Sep 20142h 4min

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

15 Sep 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

9 Sep 20141h 52min

Schiff Radio – January 1, 2014

Schiff Radio – January 1, 2014

Happy Holidays!, Due to the holidays, Peter Schiff Show is airing best-of broadcasts. Our 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.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Jan 201449min

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