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POSTED ON September 16, 2020  - POSTED IN Key Gold Headlines

Every week, analysts and pundits pour over the latest weekly jobs report looking for signs of life. Every month, we dive into the monthly unemployment numbers hoping they signal economic recovery. But these unemployment numbers don’t tell the whole story.

The government economic shutdowns in response to the coronavirus pandemic have deeply wounded the economy in ways that won’t immediately show up in the numbers. In fact, they could leave scars on the economy that don’t fade for years.

POSTED ON May 11, 2020  - POSTED IN Peter's Podcast

The US Labor Department released its April non-farm payroll report on Friday and it was as bleak as expected. As Peter Schiff put it, it was the weakest jobs report in the history of jobs reports. And even worse, a lot of these jobs are never coming back.

A record 20.5 million Americans lost their jobs last month and the unemployment rate surged to 14.7%. It was the largest and most sudden rise in joblessness since the government started tracking the numbers.

POSTED ON April 6, 2020  - POSTED IN Peter's Podcast

A lot of people still seem to think at some point, Donald Trump will flip a switch and the government will start humming again. As Peter Schiff explained in his podcast Friday that’s not going to happen. The best we can hope for is recovering from a depression to the recession we were going to have anyway.

POSTED ON January 24, 2020  - POSTED IN Friday Gold Wrap

While impeachment proceedings kicked off at home President Trump was in Davos, Switzerland, talking up the US economy. He called it the best economy in American history. Is it though? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the economy, what’s really driving it, and why this might be a good time to think about gold.

POSTED ON December 9, 2019  - POSTED IN Peter's Podcast

Friday’s employment report from the Labor Department far exceeded expectations. Mainstream analysts called the report “stellar.” Some pundits even called it the best jobs report in history. According to the Labor Department, the US economy added 266,000 jobs in November. Economists had projected an increase of around 187,000. The unemployment figure dropped to 3.5%.

Peter Schiff talked about it in his latest podcast. He called it a “Trumped-up” jobs report.

POSTED ON October 7, 2019  - POSTED IN Peter's Podcast

Last week, we got bad news in the manufacturing sector. The ISM index of national factory activity dropped to a 10-year low. It was the second straight month the number was below 50, which indicates a contraction in manufacturing. That news sent stock markets into a tailspin. This was followed up by a very week service sector report the following day.

In his most recent podcast, Peter Schiff said the service sector is about to follow manufacturing into recession. He also talked about the recent employment numbers and explained how the Fed is acting like a Soviet Politburo.

POSTED ON July 8, 2019  - POSTED IN Peter's Podcast

Markets reacted strongly to the June jobs report on Friday. Stocks fell. Bonds and gold got clobbered. The dollar got a boost.

In his latest podcast, Peter Schiff said the markets overreacted to the report. In fact, he said the jobs numbers were “no big deal.”

POSTED ON June 12, 2019  - POSTED IN Market brief

The following is a market update as it related to precious metals prepared by SchiffGold intern commodities analyst Jason Mezhibovsky and SchiffGold News managing editor Mike Maharrey.

Equities Overdone

Most mainstream analysts believe we remain in the midst of the longest bull market in history. If you consider the post-crisis S&P 500 low of March 9, 2009, as the beginning of this bull run, then it’s well over a decade long.

Peter Schiff believes the bull market actually ended last fall. He predicted that the December rate hike would be the last. Turns out he was correct in that prediction.

POSTED ON March 13, 2019  - POSTED IN Peter's Podcast

The February jobs report came in significantly below expectations. First quarter GDP estimates are way down. And we’re seeing other numbers that indicate a rotting economic foundation.

But nobody is worried.

In fact, most of the attention continues to be focused on the trade deal as if it is going to push the economy to new heights. In his most recent podcast, Peter dug into some of the numbers and came to the conclusion that most of the analysts and pundits are utterly clueless about what’s really going on.

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