Jobs Not Required to Spend Printed Money – Ep 689
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 8 May 2021
⏱️ 61 minutes
🧾️ Download transcript
Summary
* Huge misses in jobs numbers.
* Biden’s Blue-Collar Blueprint to build back better will be another big bureaucratic blunder.
* Jobs report is more evidence the Fed’s policies aren’t working.
* Weaker labor market means stronger inflation.
* Dollar decline will accelerate.
* Strong week for gold and silver with more strength ahead.
* Investors continue their move from growth to value stocks.
* Bitcoin maximalists in glass houses throwing stones at Dogecoin.
* Elon Musk may create a market top in Dogecoin after his SNL appearance.
* Jeff Gundlach is a fan of The Peter Schiff Show.
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Transcript
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| 0:00.0 | This episode of the Peter Shiftshow Podcast is sponsored by Wondery Business Wars. |
| 0:14.4 | In the newest season, the vaccine wars business wars follows the pharmaceutical industry's |
| 0:20.0 | unprecedented race to save lives and create a market worth billions of dollars. |
| 0:25.8 | You can listen to the new season on Apple Podcasts, Amazon Music, or listen early and |
| 0:31.4 | add free by joining Wondery Plus in the Wondery app. |
| 0:35.5 | Yesterday morning, the US Labor Department released the always highly anticipated jobs |
| 0:41.6 | report this time for the month of April. |
| 0:45.3 | And I think that the anticipation was heightened more than most because there were some very |
| 0:51.0 | big expectations regarding how many jobs were going to be added during the month. |
| 0:57.1 | In fact, if you look at the consensus, it was pretty wide. |
| 1:00.9 | The low end of the forecast was for an additional 755,000 jobs to be created. |
| 1:08.5 | But if you look at the upper end, 2.1 million was the high end of expectations. |
| 1:14.9 | So you had some people that were very optimistic about a huge increase in employment during |
| 1:21.8 | the month of April. |
| 1:22.8 | And this was going to follow the 916,000 jobs that we were told were added during the |
| 1:30.5 | month of March. |
| 1:31.5 | Well, when the actual number came out, it pretty much shocked everybody in how low the number |
| 1:37.5 | was. |
| 1:38.5 | 266,000 jobs were all that were added during the month of April. |
| 1:44.7 | It didn't even come close to the low end of estimates. |
| 1:48.2 | I mean, this has got to be one of the biggest, if not the biggest, misses relative to expectations. |
| 1:55.4 | 732,000 fewer jobs were created than were expected. |
... |
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