SchiffRadio Podcast Episode 20
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 17 November 2014
⏱️ 20 minutes
🧾️ Download transcript
Summary
* Weekly jobless claims higher than expected
* Fewer people in the workforce
* Job openings declining
* Consumer sentiment survey at 7-year high?
* false confidence in the economy due to oil prices
* QE4 will be the mother of all QE
* Gold and silver market reversal on Friday
* Silver stocks up $4%
* Gold stocks were up 6%
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Transcript
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| 0:00.0 | Well, we got a little bit more economic news late in the week. |
| 0:04.1 | On Thursday, we got the weekly jobless claims, and there we got a number that was a little |
| 0:10.2 | bit higher than expected. |
| 0:12.3 | 290,000 first time jobless claims filed for the week versus 278,000 for the prior week |
| 0:21.1 | and versus a 280,000 expectation. |
| 0:24.5 | The number is still low, but I think that potentially we've seen a trough in that number |
| 0:30.3 | and that the weekly jobless claims are going to continue to pick up, particularly I suspect |
| 0:35.9 | in 2015 following what I believe will be a very disappointing Christmas holiday shopping |
| 0:41.1 | season. |
| 0:42.1 | We'll see these numbers move back up north of the 300,000, getting back up to 320, 350,000 |
| 0:50.8 | type of number for the weekly jobless claims. |
| 0:53.7 | But remember, one of the problem is you have to have a job to lose a job, and one of the |
| 0:57.3 | reasons that so few people are being fired is because so few people have been hired. |
| 1:02.9 | In fact, the Joltz survey that came out, which measures the number of job openings, last |
| 1:09.2 | month there were 4.835 million, revised actually up to 4.853 million job openings. |
| 1:18.2 | They were looking for September to come in at 4.8 and instead we came in at 4.735. |
| 1:25.5 | So a pretty decent miss versus expectations and a significant, I'd say, decline from |
| 1:33.5 | the level we were at a month earlier. |
| 1:36.5 | So that, I guess, was negative economic news. |
| 1:39.5 | We did get retail sales numbers. |
| 1:41.2 | It came out earlier this morning. |
| 1:43.0 | A slight beat, they were looking for up to 10s. |
... |
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