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Rebel Capitalist News

News: Unemployment Jumps To Dangerous Levels (Here's What You Need To Know)

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 5 July 2024

⏱️ 19 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Hello,

0:02.0

robo-Robo capitals, hope you're well.

0:03.0

So big news in the jobs market today,

0:06.0

unemployment spikes higher.

0:09.0

So we've got to look at this in terms of the Sommerl. We got to look at the jobs data and

0:15.2

then we have to look at these massive huge epic revisions to the last few months.

0:23.7

This is, you got to be sitting down for this one, properly stiff drink time because these

0:28.4

revisions really shed light not only on what's going on what's what the truth is in the

0:34.9

labor market but also the shenanigans that are being played by the BLS.

0:40.3

Let's first and foremost go to the Wall Street Journal,

0:44.0

and we're going to get into a great article from Zero Hedge.

0:46.2

And the reason why I want to highlight the Wall Street Journal first

0:49.7

is because it shows you how the central planners can sit there and say well BLS

0:56.7

let's pump up the numbers a little bit and even if we have to downward revise it in the

1:02.1

next couple it doesn't matter because no one pays

1:03.6

attention to those numbers right so look at the Wall Street journal US

1:09.8

economy adds two hundred and six000 jobs as hiring stays strong.

1:15.0

You see, this is the narrative that the central planners are trying to push.

1:22.0

This is the narrative they're trying to create because they know the average Joe and Jane just looks at that headline and doesn't read any further.

1:30.6

They don't scratch beneath the surface. But fortunately the market does. The market is really

1:36.3

picking up on this. And the reason I say that is because if you look at the Nas Deck, the Nas Deck is much higher, which would lead you to believe that they are pricing in

1:48.4

that rate cuts sooner than later and maybe pricing in more rate cuts than they were pricing in, let's say a couple weeks ago,

...

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