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POSTED ON September 13, 2022  - POSTED IN Guest Commentaries

The Fed continues to talk tough about fighting inflation. During his Jackson Hole speech, Fed chair Jerome Powell said the central bank will “use our tools forcefully” to attack inflation. Powell even promised some pain.

What exactly does Powell mean by “pain?”

Ron Paul pointed out that Powell wants to “soften the labor market.” In other words, he wants you to get fired.

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 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 September 29, 2021  - POSTED IN Key Gold Headlines

Incentives matter. All of the political grandstanding, media spin and wishful thinking won’t change this basic economic principle.

Both Janet Yellen and Joe Biden insisted “enhanced” unemployment benefits weren’t incentivizing people not to work. But as we recently reported, analysis of continuing unemployment claims after a number of red states cut enhanced benefits undermined this narrative. Now a study by Mercatus Center economists Michael Farren and Christopher M. Kaiser further destroys the ludicrous notion that paying people not to work won’t result in fewer people working.

POSTED ON August 9, 2021  - POSTED IN Key Gold Headlines

We’ve seen a sharp selloff in both gold and silver. Gold was down over $40 an ounce Friday. Meanwhile, the US dollar saw a sharp increase, along with a rise in long-term Treasury yields. The catalyst for these sharp moves was a better-than-expected jobs report and expectation that it will spark a quick pivot to monetary tightening by the Fed.

The markets are moving on fantasy, not economic reality.

POSTED ON August 6, 2021  - POSTED IN Exploring Finance

The BLS provides an employment picture of the US on the first Friday of every month. It estimates how many jobs were added or subtracted by sector. While some of the assumptions may be controversial (e.g. the birth/death model) and job numbers are prone to revisions, it remains the most widely anticipated statistic each month by the financial markets. Considering its popularity, the job numbers are heavily analyzed by many sources. This article uses visuals and historical data to provide greater insight and perspective.

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