Labor Force Participation Rate Plunges to 38-Year Low – Ep. 92

Labor Force Participation Rate Plunges to 38-Year Low – Ep. 92


* Happy 4th of July to everyone
* Unfortunately, we have given up our independence to government tyranny
* I will be back on the radio again - I'll be on the Alex Jones Show every first and third Friday of every month when the Non-Farm Payroll numbers come out
* I will be doing tomorrow's show - the second hour of the show
* The Non-Farm Payroll Report came out early this week because of the 4th of July holiday
* The consensus forecast of 230,000 jobs was close to the actual number 223,000
* The unemployment rate of 5.5% last month was expected to come in at 5$% - actually came in at 5.3%, the lowest unemployment rate in 7 years
* Great news, right? Not great news
* The devil is in the details
* The Labor Force Participation Rate - 62.9 last month - plunged down to 62.6%
* This is the lowest rate since 1977
* 432,000 people dropped out of the labor force in June - twice the number of people who got jobs in June
* Once again, these new jobs are low-paying service sector jobs
* During the Obama "recovery" we have lost 1.4 million manufacturing jobs and gained 1.4 million wait staff and bartender jobs
* According to the Household Survey 640,000 Americans left the labor force in June
* Now we have a record 93.6 million Americans no longer in the labor force
* The Household Survey reports 349,000 jobs were lost during the month
* The only net gain - 161,000 part time jobs - represent a net loss
* The Household Survey shows that we lost good jobs
* When asked about the Labor Force Participation Rate number, Secretary of Labor Perez commented, "One month does not a trend make."
* This trend has been going down every month of every year that President Obama has been in office
* Janet Yellen announced that the Fed would not start raising rates without "further improvement in the labor market"
* She specifically cited the Labor Force Participation Rate and proliferation of part-time jobs as troubling trends
* We are now further from that goal
* The demographic leaving the labor force are young people who cannot find jobs
* Average Hourly Earnings, to increase .2, actually came in flat, at zero
* Last month's .3 increase was revised down to .2, failing to beat the estimate
* Weekly Jobless Claims expected to come in at 270,000, actually came in at 281,000 and I think this number is going to go higher
* There have been fewer hires and fewer fires than expected because the estimates were based on the Birth/Death model, that is proving inaccurate
* Factory Orders are down for 9 of the last 10 months - this month we were looking for -.3% and we got -1%
* April was originally reported as -.4 but was revised down to -.7
* Year over year Factory Orders are down 6.3% (adjusted)
* The only time we have seen numbers this weak is during a recession
* The economy is in worse shape now that when QE3 was launched
* Yet the markets did not react to these bad numbers
* They still cling to the narrative that the Fed is going to raise rates because the U.S. economy is in good shape
* Article on Motley Fool refers to me as someone who was "right for the wrong reason"
* The misquoted me on my prediction on (mortgage)interest rates going up
* After I made that statement, interest rates did go up for 2 years - they did not go down until after the bubble burst
* The Fed raised interest rates from 1% to 5-1/2 percent
* This quote was taken out of context - read my 2007 book, "Crash Proof"
* There are dozens of articles about the real estate bubble 2004-2007
* The record shows that I was right for all the right reasons
* I did think the dollar would go down after the housing bubble burst, 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

Avsnitt(1086)

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 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 Nov 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 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 Nov 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 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 Nov 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. 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

31 Okt 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. 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

29 Okt 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. 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 Okt 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 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 Okt 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 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 Okt 20142h 20min

Populärt inom Business & ekonomi

badfluence
framgangspodden
varvet
rss-jossan-nina
uppgang-och-fall
rss-svart-marknad
lastbilspodden
rss-borsens-finest
affarsvarlden
avanzapodden
fill-or-kill
rss-en-rik-historia
24fragor
rss-inga-dumma-fragor-om-pengar
rss-kort-lang-analyspodden-fran-di
borsmorgon
kapitalet-en-podd-om-ekonomi
rss-dagen-med-di
bathina-en-podcast
tabberaset