Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Trump Now Praising the Same Struggling Job Statistics

  by    0   0

In his latest podcast, Peter Schiff discusses the February Non-Farm Payroll Report and President Trump’s change in attitude towards the credibility of the data. During his campaign, Trump continually told his supporters the truth about the tanking US economy, characterizing the jobs statistics as phony data.

Ever since his election, however, he now considers these same numbers as credible indicators of the positive impact of his presidency and the general health of the economy. Peter shines a light on Trump’s hypocrisy, showing how current payroll numbers are essentially the same as those under Obama.

Revised numbers resulted in 238,000 jobs created in January, post-election but mostly pre-Trump’s inauguration. February’s initial numbers came in under January at 235,000. Along with that, unemployment fell another 0.1% and hourly earnings only rose by 0.2% which was less than expected. Unfortunately for wages the CPI numbers have shown that inflation is growing at triple the earnings rate already at 0.6%. This means wages are increasing slower as the dollar quickly loses its purchasing power.

While the report had some positive new gains, such as a small surge in manufacturing and construction jobs, those could be more of a sign of what Peter calls “Trump-related window dressing.” Essentially, American manufacturers are attempting to garner early favor with the new president. We will have to see if a trend emerges with those new numbers, or if they slump back down to where they were in January’s report.

scam-2-sm

Get Peter Schiff’s latest gold market analysis – click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

The Fed Gets Spooked By the Monster It Created

The Federal Reserve released the minutes from its most recent FOMC meeting on Wednesday and it appears the monster they created has finally spooked the central bankers.  Related

READ MORE →

Last Time Housing, This Time Bonds

Over the last couple of months, we’ve focused a lot of attention on the stock market bubble. But some analysts say we should be watching the bond market bubble. Last summer, former Fed chair Alan Greenspan issued an emphatic warning: Beware, the bond bubble is about to burst. And when it does, it will take stock […]

READ MORE →

Trusting the Fed: Will the White Knight Save the Day?

As we reported last week, investors are in an era of “irrational exuberance.” The US stock market is at all-time highs. Meanwhile, market volatility is at lows not seen since the 1990s. In an odd juxtaposition of seemingly contradictory points of view, investors realize the market is overvalued, but at the same time, they believe it […]

READ MORE →

Tax Cuts Without the Reform

Last week, the House passed its version of “tax reform,” along party lines. The final vote came in at 227-205, with the entire Democratic caucus opposing the bill. Thirteen Republicans joined the Democrats in voting no. The debate now shifts to the Senate where things will likely become more contentious. Wisconsin Republican Sen. Ron Johnson has […]

READ MORE →

Platinum Shortage on the Horizon

There’s a significant platinum shortage on the horizon according to an industry report. According to a quarterly report released by the World Platinum Investment Council, a resurgence in demand for platinum jewelry, increasing industrial demand, along with falling production, will lead to a shortfall of 275,000 ounces in 2018. Related

READ MORE →

Comments are closed.

Free Newsletter & Notification of Special Deals
RSS Feed
LINKEDIN
YouTube Channel
YouTube Channel
Google+
Google+
https://schiffgold.com/key-gold-news/trump-now-praising-struggling-job-statistics
Call Now