4.7 • 1K Ratings
🗓️ 7 February 2025
⏱️ 41 minutes
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0:00.0 | Hello, fellow rebel capitals. Hope you're well. So we've got some shocking news coming out of the payroll report. |
0:08.8 | And even if you saw the specific numbers, I'm going to reveal some data that nobody is talking about that's going to blow you away. |
0:19.7 | So sit down, buckle up. Definitely stiff drink |
0:22.5 | time for this video. We're also going to talk about the new gold-backed currency and what this |
0:28.9 | tells us about the future for the United States dollar. And also, inflation fears spiking in this latest consumer survey, the Michigan survey. |
0:41.9 | We're going to go over that right now. |
0:43.4 | So let's shoot straight over to the first story here, Wall Street Journal. |
0:48.6 | And the headline here, hiring slows but remains solid. |
0:52.5 | So if you didn't hear the expected was 169,000 new jobs for the |
0:57.2 | establishment survey, and we clocked in this morning at 143. So about 20,000 fewer than was expected, |
1:06.2 | but the unemployment rate actually went from 4.1 down to 4.0. |
1:13.3 | Now, initially, I thought this was because labor force participation must have declined, |
1:18.9 | and that actually wasn't it. |
1:22.4 | The labor force participation was the exact same. |
1:26.5 | So you say to yourself, well, George, how is this possible |
1:29.2 | when the expectation was for 4.1 and we had fewer jobs created, but the unemployment rate actually |
1:37.1 | went down. And this is why interest rates, let's say the 10 year, were up today because they |
1:43.9 | actually saw this as rather |
1:46.2 | hawkish, because you combine this with wages went up slightly more than expected. And that's why the |
1:52.7 | 10-year treasury, it was up maybe four or five basis points last time I looked at it. But I think |
1:57.6 | that's going to reverse very quickly once the reality sinks in. |
2:01.9 | And the reality that I'm talking about is the reason the unemployment rate went down is because |
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