Part-time Employment SURGES as Weekly Earnings Drop the MOST EVER!

Part-time Employment SURGES as Weekly Earnings Drop the MOST EVER!


* The media, the Federal Reserve and President Obama continue to ignore the overwhelming evidence out this week, in fact every week for the past couple of months that the U.S. economy has already slipped back into recession
* The last revision to Q4 GDP showed the economy grew by 1% for the quarter, but remember, the government never acknowledges a recession until it's practically over
* The Great Recession started in December of 2007 but it wasn't until the fall of 2008 that the government finally went back and revised the numbers down to show when the recession actually began
* Halfway through the recession, the Federal Reserve and Wall Street didn't even have recession in their forecast despite the fact that we had been in one for more than 6 months
* What everybody is focusing on are the jobs numbers
* We got another non-farm payroll report yesterday and, again, low unemployment, 4.9% and more than 200,000 jobs created
* President Obama, as he peddles his fiction of economic recovery, focuses on the fact that the unemployment rate is low, and we're creating all these jobs, proving that his policies are working
* He's trying to take credit for a recovery that doesn't exist. Let's look behind the numbers of yesterday's better than expected jobs report
* First of all the headline number: how many jobs were created? The consensus was 190,000 and we got 242,000 - a big beat
* Not only that, last month's number up to 172,000
* The unemployment rate held steady at 4.9%, still below the psychologically important 5%
* Here is a detail that President Obama didn't mention at all: average hourly earnings were expected to rise .2% and that followed the big jump last month of .5%
* If you remember, on my video blog last month I said that was a one-off event
* That increase was the result of all the minimum wage hikes that kicked in in January
* I said that number would reverse by February and that's exactly what happened
* Instead of getting an increase of .2%, we got a drop of .1%
* That is the first time that's happened since December of 2014
* It is very rare to get a decline in average hourly wages, because prices keep rising
* In the last 10 years this has only happened 6 times
* In addition to the drop in earnings, hours worked actually declined from an average of 34.6 hrs to 34.4 hrs
* When you take into account that Americans earned less per hour and worked fewer hours you get a total drop in weekly earnings of .7%
* That is the biggest drop in weekly earnings as far back as they've been keeping records
* Is this something that President Obama wants to accept responsibility for?
* Here's some more information that we're not getting:
* I've said for a long time that the reason so many jobs are being created is because we are transitioning from full-time employment to part-time employment
* That is where all the jobs are coming from
* According to the household survey, 88% of the jobs created in February were part time jobs
* That means only 12% of that big 240,000 number were full time jobs!
* If you look further beneath the surface at the type of jobs, you'll see that 80% of those jobs were in low-paying service sector jobs, many of them being minimum wage
* We actually lost 17,000 manufacturing jobs
* We lost mining jobs
* We lost logging jobs
* We lost high-income jobs that provide benefits to American workers, and we replaced them with low-paying part-time jobs without benefits
* That is why you have so many people showing up for Bernie Sanders or Donald Trump Rallies
* They are hearing about a recovery, but they are living in a recession
* Let me get to some of the numbers that nobody paid attention to:
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Powell Gets His Mind Right - The Peter Schiff Show Ep 1038

Powell Gets His Mind Right - The Peter Schiff Show Ep 1038

Jerome Powell’s Jackson Hole speech marks a major pivot at the Federal Reserve. Peter Schiff explains how political pressure from the Trump administration has forced Powell’s hand, why stagflation is now undeniable, and what this means for gold, the dollar, and the future of the U.S. economy.This episode is sponsored by NetSuite. Download the free ebook “Navigating Global Trade: 3 Insights for Leaders” at https://netsuite.com/goldIn this Sunday Night Live edition of The Peter Schiff Show, Peter compares Powell’s capitulation to the “mind right” scene in Cool Hand Luke, warns about the Fed’s coming return to QE, and exposes the dangerous precedent of the U.S. government seizing a 10% stake in Intel. Schiff lays out why gold, silver, and foreign stocks are outperforming, and why the next phase of the crisis will be even more severe.00:00 Introduction and Opening Remarks02:15 Powell’s Jackson Hole Speech: A Sober Assessment06:48 Trump’s Pressure and Powell’s “Mind Right” Moment12:02 Comparing Trump and Biden Economies18:37 Stagflation Confirmed: Weak Growth, Stronger Inflation24:10 Fed Policy, Employment Risks, and Inflation Mandate29:44 The End of Inflation Averaging at 2%36:50 Rate Cuts, Quantitative Tightening, and QE Ahead44:15 Market Reactions: Stocks, Bonds, and the Dollar51:28 Gold and Silver Surge vs. Bitcoin’s Underperformance58:44 Mining Stocks: GDX and GDXJ Leading 2025 Returns01:05:37 Foreign Stocks and the Great Rotation Out of U.S. Equities01:12:52 Intel’s 10% Government Stake and Rising Corporatism01:20:46 Investment Strategy: Gold, Mining, and Foreign Markets01:28:14 Conclusion and Schiff Sovereign UpdateFollow @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 #stagflation #gold #inflation #dollarcollapse #economyOur 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

25 Aug 1h 1min

Trump Administration Planning to Hijack the Fed - The Peter Schiff Show Ep 1037

Trump Administration Planning to Hijack the Fed - The Peter Schiff Show Ep 1037

Peter Schiff is joined by James Hickman, a.k.a. Simon Black of Sovereign Man, to discuss the U.S. debt crisis, the Federal Reserve’s future, and why America may be headed toward a sovereign debt and dollar collapse.This episode is sponsored by NetSuite.Download the free “CFO’s Guide to AI and Machine Learning” at https://netsuite.com/goldIn this special edition of The Peter Schiff Show, Peter welcomes longtime friend and entrepreneur James Hickman, best known by his pen name Simon Black. Together, they dive into the launch of their new joint project Schiff Sovereign, the growing U.S. debt disaster, and the Trump administration’s controversial plan to take control of the Federal Reserve.00:00 Introduction and Special Guest Announcement02:34 James Hickman: The Man Behind Simon Black04:01 The Birth of Schiff Sovereign05:27 Introducing James to the Audience09:01 The US Debt Crisis Unveiled14:25 Historical Context and Interest Rates21:21 The Fed's Role and Future Challenges25:41 Trump Administration's Plan for the Fed25:52 Money Heist: A Metaphor for the Fed30:03 Economic Data Manipulation30:59 Control of the Central Bank31:20 Unusual Resignation at the Fed32:35 Political Influence on the Fed34:24 Mortgage Fraud Scandal36:26 Implications of Rate Cuts36:58 Treasury Strategies and Debt Refinancing40:14 Stablecoins and the Genius Act49:46 Historical Context and Future Predictions50:25 Fannie Mae and Freddie Mac01:02:43 Concluding Thoughts and Future PodcastsFollow @peterschiff  X: 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 #debtcrisis #dollarcollapse #economyOur 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

22 Aug 1h 4min

Surprise PPI Surge Dashes September Rate Cut Hopes - Ep 1036

Surprise PPI Surge Dashes September Rate Cut Hopes - Ep 1036

Peter Schiff examines the surprising PPI surge, critiques economic data, and addresses the implications for inflation and the Fed's policies.This episode is sponsored by NetSuite. This episode is sponsored by NetSuite. Download the free “CFO’s Guide to AI and Machine Learning” at https://netsuite.com/goldIn this episode of The Peter Schiff Show, Peter Schiff dives into the latest economic data, revealing how a surprising PPI surge has dashed hopes for a September rate cut. He critiques the government’s misleading job numbers and discusses the implications of a growing budget deficit on the economy. Schiff also highlights the troubling trend of inflation, emphasizing the Fed's failure to act appropriately amidst worsening economic indicators. With insights on the gold and silver markets, he underscores the importance of understanding the true state of the economy, challenging the narratives promoted by politicians and the mainstream media. This episode is essential for anyone looking to grasp the reality of today’s financial landscape through Schiff’s candid analysis.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com📘 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/peterschiffChapters:00:00 Introduction and Opening Remarks00:56 Hurricane Impact and Podcast Continuation01:37 Disappointing Economic Data Analysis02:55 Trump's Reaction to Job Numbers08:36 Inflation and Fed's Response16:53 Budget Deficit and Economic Comparison20:58 Tariffs and Legal Challenges27:56 Gold and Silver Market Insights33:52 Big Funds and Gold Stocks34:57 Gold Fund and Dividend Payers35:33 Global Investment Shifts37:04 Bank Receivership and Qenta Deal40:08 Qenta's Asset Handling Issues46:11 Legal Battles and Customer Rights53:11 Organizing Customer Lawsuits01:04:15 Final Thoughts and Call to Action#PPI #EconomicData #GoldMarketOur 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

18 Aug 1h 4min

How Trump Is Accelerating America’s Economic Decline - Ep 1035

How Trump Is Accelerating America’s Economic Decline - Ep 1035

Peter Schiff examines gold market dynamics, critiques Trump's economic policies, and discusses investment strategies amidst rising market trends.This episode is sponsored by HIMs. Start your free online visit today at https://hims.com/goldIn this episode of The Peter Schiff Show, host Peter Schiff dives deeply into the current dynamics of the gold market, highlighting the significant impact of tariffs and Trump's economic policies on gold and its stocks. Listeners will gain insights into the asymmetric opportunities within gold stocks, the performance of Bitcoin compared to gold, and the ongoing de-dollarization trend. Schiff emphasizes the importance of recognizing the risks and rewards in today's market, urging investors to consider their strategies carefully. With a focus on international markets and the future of U.S. manufacturing, this episode encapsulates Schiff's unyielding perspective on economic realities, making it a must-listen for those seeking to navigate the complexities of investment in a turbulent financial landscape.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🟡 Schiff Gold News: https://www.schiffgold.com/news🔔 Free Reports & Market Updates: https://www.europac.com📘 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/peterschiffChapters:03:01 Gold Market Insights04:30 Impact of Tariffs on Gold08:30 Gold Stocks Performance11:14 Bitcoin vs. Gold14:24 Investment Strategies and Fund Performance19:49 US Dollar and International Markets24:20 Trump's Economic Policies31:19 Fannie Mae and Freddie Mac History36:26 Government Takeover of Fannie and Freddie37:02 Trump's Plan for Fannie and Freddie38:11 The Implicit vs. Explicit Guarantee Debate39:48 The Case for Abolishing Fannie and Freddie43:55 Trump's Economic Policies and Their Impact44:57 The Future of US Manufacturing49:37 Investment Strategies and Market Trends53:21 Personal Investment Performance and Advice58:45 Upcoming Events and Final Thoughts#goldinvesting #economictrends #marketanalysisOur 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

11 Aug 1h 7min

Trump Fires BLS Commissioner, Agitates for Fed Mutiny - Ep 1034

Trump Fires BLS Commissioner, Agitates for Fed Mutiny - Ep 1034

Peter Schiff critiques the latest jobs report, dissects the implications of Trump's tariffs, and explores the weak labor market and economic realities.In this episode of The Peter Schiff Show, Peter Schiff delves into the deceptive nature of recent job reports, highlighting how misleading statistics mask a weak labor market. He critiques the government's methodology in reporting job creation, emphasizing the significant downward revisions that undermine the perceived strength of the economy. Schiff discusses the implications of rising tariffs on consumer prices and how they contribute to stagflation, ultimately leading to a precarious economic outlook. As he analyzes the Federal Reserve's stance on interest rates amidst these troubling indicators, Schiff reinforces his belief that the realities of the labor market and inflation are far more dire than official narratives suggest. Tune in for an insightful examination of the economic landscape through Schiff's candid lens.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com📘 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/peterschiffChapters:00:00 Introduction to the Jobs Report00:42 Historical Context of Economic Indicators01:22 Critique of Recent Job Reports03:32 Revisions and Market Reactions06:42 Current Jobs Report Analysis08:23 Unemployment Rate and Labor Market Realities10:59 Manufacturing Job Losses15:43 Trump's Reaction and Firing of Labor Department Head23:44 Economic Data and Market Implications26:50 Federal Reserve Meeting Insights29:47 Fed's Inflation Struggles and Policy Decisions31:22 Powell's Response to Interest Burden Concerns33:41 Impact of Tariffs on Inflation and Economy37:04 Rolex Tariffs and Consumer Behavior42:37 Trump's Influence on Fed and Rate Cuts55:30 Upcoming Appearances and Personal Updates#JobsReport #EconomicIndicators #LaborMarketOur 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

4 Aug 1h

Trump Calls Powell Too Dumb for “Easiest Job” - Ep 1033

Trump Calls Powell Too Dumb for “Easiest Job” - Ep 1033

Peter Schiff examines Trump’s misguided economic critiques, delves into inflation's impact, and challenges the Fed’s policies in this episode.Start your free online visit today at https://hims.com/goldIn this episode of The Peter Schiff Show, Peter Schiff delves into the contentious relationship between former President Trump and Federal Reserve Chair Jerome Powell. Schiff highlights Trump’s pointed criticisms of Powell's economic policies, framing them within a broader historical context of interest rates and inflation. As Schiff navigates the complexities of government spending and its impacts on the economy, he emphasizes the inherent contradictions in Trump's past economic stances. Additionally, the episode touches on significant issues such as voting rights and the implications for future generations. With Schiff's keen analysis, listeners will gain a deeper understanding of the economic landscape and the policies that shape it, reinforcing his perspective on the pressing realities facing the nation.📘 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/peterschiffChapters:00:00 Introduction and Headlines00:55 Trump's Criticism of Fed Chair Powell06:13 Historical Context of Interest Rates10:07 Trump's Hypocrisy on Economic Policies22:00 Inflation and the Fed's Response29:43 Critique of Government Spending and Policies32:47 Lowering the Voting Age in the UK33:44 Debating the Voting Age37:26 Historical Context of Voting Rights44:51 Crypto Week and Legislation46:17 Bitcoin and Stable Coins Analysis51:55 Precious Metals Market Update57:59 Conclusion and Call to Action#Trump #InterestRates #VotingRightsOur 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

21 Juli 57min

Investors Bet Tariff Man Chickens Out Again - 1032

Investors Bet Tariff Man Chickens Out Again - 1032

Peter Schiff examines the impact of Trump's tariffs on the economy, critiques government spending bills, and emphasizes the urgency of investing in precious metals.This episode is sponsored by NetSuite. Download the free ebook “Navigating Global Trade: 3 Insights for Leaders” at https://netsuite.com/goldIn this episode of The Peter Schiff Show, Peter Schiff delves into the current state of the economy, focusing on the implications of recent trade deals and tariffs announced by the Trump administration. He highlights the detrimental effects of these tariffs on American consumers, arguing that they will lead to higher prices and increased inflation, ultimately hurting the very economy they aim to protect. Schiff also reflects on American exceptionalism, the significance of government policies on economic growth, and the troubling rise of socialist ideals in politics. Listeners will gain insight into the ongoing economic challenges and the misguided policies that threaten to undermine market stability. Tune in as Peter Schiff navigates through these pressing issues, providing his keen analysis and perspective on the future of the U.S. economy.https://www.youtube.com/watch?v=ifM-zmNWQiohttps://www.youtube.com/watch?v=Qd15JoUnEfE👉 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/peterschiffChapters:00:00 Introduction01:23 Reflecting on American Exceptionalism03:59 Latino Wall Street Award06:32 Trade Deals and Tariffs Analysis19:22 Impact of Tariffs on the Economy25:20 Commercial Break27:36 Jobs Report and Economic Insights29:34 Government Jobs and Economic Impact30:01 Manufacturing and Tariffs30:52 Unemployment Rates and Labor Market31:43 The Budget Busting Bill33:33 Tax Cuts and Economic Consequences41:36 Democratic Policies and Socialism51:41 Investment Strategies and Market Predictions55:04 Podcast Conclusion and Future Plans#tariffs #economicimpact #investorinsightsOur 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

10 Juli 57min

Trump Will Replace Powell With an Even Bigger Moron - Ep 1031

Trump Will Replace Powell With an Even Bigger Moron - Ep 1031

Peter Schiff delves into the Middle East conflict's impact on markets, the Fed's shortcomings, and the implications of a declining dollar on the economy.00:00 Introduction and Apology for Absence01:04 Cruise Ship Experience and Real Estate Summit02:12 Unexpected Encounter with a Podcast Fan03:09 Recent Global Events: Middle East Conflict07:10 Financial Market Movements and Analysis13:08 Precious Metals and Currency Trends20:11 Federal Reserve and Economic Policies25:13 Powell's Testimony and National Debt Concerns37:39 Trump's Reaction to Fed's Rate Decisions39:09 Powell's Stance on the Dollar and Inflation43:13 Criticism of Budget Deficits and Fiscal Policy44:14 Trump's Economic Claims and Hypocrisy49:49 Fed's Role in Deficit Spending53:22 Student Loans and Government's Role01:01:15 Investment Advice on Gold and Silver01:06:59 Conclusion and Final Thoughts⭐️ Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟨 Gold News: http://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/peterschiffOur 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 Juni 1h 8min

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