Trump Fires BLS Commissioner, Agitates for Fed Mutiny - Ep 1034
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 4 August 2025
⏱️ 60 minutes
🧾️ Download transcript
Summary
Peter Schiff critiques the latest jobs report, dissects the implications of Trump's tariffs, and explores the weak labor market and economic realities.
In this episode of The Peter Schiff Show, Peter Schiff delves into the deceptive nature of recent job reports, highlighting how misleading statistics mask a weak labor market. He critiques the government's methodology in reporting job creation, emphasizing the significant downward revisions that undermine the perceived strength of the economy. Schiff discusses the implications of rising tariffs on consumer prices and how they contribute to stagflation, ultimately leading to a precarious economic outlook. As he analyzes the Federal Reserve's stance on interest rates amidst these troubling indicators, Schiff reinforces his belief that the realities of the labor market and inflation are far more dire than official narratives suggest. Tune in for an insightful examination of the economic landscape through Schiff's candid lens.
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Chapters:
00:00 Introduction to the Jobs Report
00:42 Historical Context of Economic Indicators
01:22 Critique of Recent Job Reports
03:32 Revisions and Market Reactions
06:42 Current Jobs Report Analysis
08:23 Unemployment Rate and Labor Market Realities
10:59 Manufacturing Job Losses
15:43 Trump's Reaction and Firing of Labor Department Head
23:44 Economic Data and Market Implications
26:50 Federal Reserve Meeting Insights
29:47 Fed's Inflation Struggles and Policy Decisions
31:22 Powell's Response to Interest Burden Concerns
33:41 Impact of Tariffs on Inflation and Economy
37:04 Rolex Tariffs and Consumer Behavior
42:37 Trump's Influence on Fed and Rate Cuts
55:30 Upcoming Appearances and Personal Updates
#JobsReport #EconomicIndicators #LaborMarket
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Transcript
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| 0:00.0 | Make no friends in the pits and you take no prisoners. |
| 0:05.1 | One minute, you're up half a million in soybeans and the next boom. |
| 0:07.5 | Your kids don't go to college and they've repossessed your Bentley. |
| 0:09.4 | Are you with me? |
| 0:10.0 | The revolution starts now. |
| 0:12.4 | Starts now. |
| 0:13.7 | We have to pass the bill so that you can find out what is in it. |
| 0:18.0 | Turn those machines back on. |
| 0:20.3 | You are about to enter The Peter Schiff Show. |
| 0:23.9 | Show me the money! |
| 0:25.7 | If we lose freedom here, there's no place to escape to. |
| 0:28.3 | This is the last stand on Earth. |
| 0:29.7 | The Peter Schiff Show is on. |
| 0:31.7 | I don't know when they decided that they wanted to make a virtue out of selfishness. |
| 0:35.5 | Your money. |
| 0:36.6 | Your stories. |
| 0:38.7 | Your freedom. The Peter Sh your stories, your freedom. |
| 0:40.3 | The Peter Schiff's show. |
| 1:04.6 | Well, Friday was the first day of August, and the first Friday of every new month, we get the jobs report, right? |
| 1:06.0 | The non-farm payroll report that comes out from the Department of Labor. |
| 1:10.6 | It happens to be the biggest |
| 1:13.4 | economic data point that comes out. Although now, you know, the inflation numbers, the CPI, |
... |
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