Government Hiring Spree Means Higher Taxes and Inflation - Ep 982
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 5 October 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
The September Jobs Report: A Deeper Dive into Government Hiring and Market Implications
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Peter unpacks the September jobs report, highlighting the surprising surge in government hiring amidst looming elections. He questions the authenticity and timing of these figures, suggesting political motivations behind the data boost for the Biden-Harris administration. Peter contrasts private versus government job creation, explaining the economic implications of these new roles funded by taxpayers. As he laments the service sector's dominance and the fading strength of manufacturing, he predicts post-election job revisions. Peter also advises against broad faith in market indicators and reiterates the urgency of investing in gold and silver stocks, casting a skeptical eye on Bitcoin's faltering performance compared to gold. Overall, he stands firm against superficial economic narratives, advocating for practical investment strategies informed by a realistic outlook.
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Timestamps:
00:42 Jobs Report and Political Implications
04:18 Analyzing the Jobs Data
09:57 Government vs. Private Sector Jobs
14:53 Economic Consequences of Government Hiring
25:08 Labor Market Developments and Automation
32:51 Employer Liability and Automation
34:22 Market Reactions and Fed Rate Cuts
36:20 Oil Prices and Inflation Concerns
37:51 Manufacturing Recession and Service Sector Strength
45:49 Gold and Silver Market Dynamics
52:59 Emerging Markets and Investment Opportunities
54:23 Bitcoin's Bear Market Analysis
57:28 Conclusion and Final Thoughts
#jobsreport #governmentjobs #inflation
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Transcript
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| 0:00.0 | The Peter Shipp Show. |
| 0:09.0 | Today's podcast is sponsored by Mint Mobile. |
| 0:12.0 | Get your new customer offer and your new three-month unlimited wireless plan |
| 0:15.8 | for just 15 bucks a month at mintmobile.com slash gold. |
| 0:19.8 | Additional taxes fees and restrictions apply. |
| 0:22.1 | See Mint Mobile for details. |
| 0:24.0 | Today's podcast is also sponsored by Calshi. |
| 0:26.8 | Calshi is the first legal financial exchange in the US |
| 0:29.7 | where you can bet on any event. |
| 0:31.6 | Bet on things like, when will the Fed cut rates? |
| 0:34.2 | Or will Tik-Tok be banned? |
| 0:35.8 | Or will there be a forced sale? |
| 0:37.4 | Go to Calcie.com slash gold, |
| 0:39.4 | and the first 500 traders will get a $20 credit. |
| 0:43.6 | Well, another jobs Friday, |
| 0:46.7 | but before I get into the tale of the tape, |
| 0:49.3 | let me just start off today's podcast |
| 0:51.0 | by wishing all of my Jewish listeners a happy new year yesterday |
| 0:55.9 | uh was Russia shut out the Jewish new year we rang in five thousand seven hundred |
| 1:01.3 | and eighty five in the Hebrew calendar. We're in the 80s right now. And so happy new year to everybody and let me get into the jobs report which came out today. |
| 1:14.0 | Now first of all, you know, this is the second to last jobs report |
| 1:20.8 | that we're gonna have before the election in November. |
... |
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