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POSTED ON December 2, 2022  - POSTED IN Exploring Finance

According to the BLS, the economy added 263k jobs in November with a modest revision up in October from 261k to 284k but a revision down in September from 365k to 269k. October was a beat against median expectations of 200k. The employment rate (black line) stayed flat at 3.7% while the labor force participation ticked down from 62.2% to 62.1% This is the weakest labor force participation since December of last year.

POSTED ON November 4, 2022  - POSTED IN Exploring Finance

Despite the better-than-expected headline number, the job market continues to slow.

According to the BLS, the economy added 261k jobs in October with a big upward revision in September from 263k to 315k. October was a beat against median expectations of 205k. The employment rate (black line) increased from 3.5% to 3.7% while the labor force participation ticked down from 62.3% to 62.2%.

POSTED ON October 12, 2022  - POSTED IN Original Analysis

On the surface, the September job numbers looked pretty good. The economy continues to add jobs and the unemployment rate fell. But these headline numbers paper over underlying problems in the economy.

While President Biden brags about job growth, the average American is working more just to maintain last year’s standard of living.

POSTED ON September 2, 2022  - POSTED IN Friday Gold Wrap

The Kansas City Federal Reserve Bank published a rather surprising paper that swerves into the truth – the Fed can’t win this inflation fight. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the paper. He also discusses the possibility of a dollar decline and gives his first impression of the August jobs report.

POSTED ON August 8, 2022  - POSTED IN Peter's Podcast

The July non-farm payroll report came out much stronger than anticipated. According to the Bureau of Labor Statistics, the economy added 528,000 jobs and the unemployment rate ticked down to 3.5%. The narrative was that this blockbuster employment report proves that we’re not in a recession.

In his podcast, Peter Schiff broke down the data and reveals the truth behind the “strong job market” hype.

POSTED ON August 5, 2022  - POSTED IN Exploring Finance

According to the BLS, the economy added 528k jobs in July, blasting past analyst estimates of 250k. The strong report comes on the heels of a Fed meeting last week that made a point to state they are hyper-focused on the job market as a sign of a weakening economy. The White House and Fed are now in lock step ignoring negative GDP growth and hanging their hat on the job market. For now, that message fits their narrative.

POSTED ON August 3, 2022  - POSTED IN Key Gold Headlines

Despite back-to-back contractions in GDP, President Joe Biden, Fed Chair Jerome Powell, Treasury Secretary Janet Yellen and all of their supporters in the corporate media insist the US economy isn’t in a recession. But the only data they ever point to in order to back up their assertion is the “strong” labor market.

The problem with this spin is the labor market is a lagging indicator and it’s starting to show cracks.

POSTED ON July 11, 2022  - POSTED IN Peter's Podcast

The mainstream seems to have conceded that the economy is heading toward a recession. But most people aren’t too worried. They seem to think the downturn will turn out short and shallow. In his podcast, Peter explains why the recession will more likely be long and deep. Since people don’t understand the nature of the boom, they can’t understand the nature of the bust.

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