Peter's Blog

History Rhymes: SchiffGold Friday Gold Wrap Feb. 10, 2023

You’ve probably heard the saying that history might not repeat, but it often rhymes. If that’s true, looking back at the runup to the 2008 financial crisis and Great Recession should cause concern. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at some of the parallels between then and now. […]

Is It Time to Drop the “L” in the BLS?

By all measures, the latest job report absolutely blasted past expectations with one of the biggest upside surprises in recent memory. The current month came in at 517,000 jobs created. But even that massive figure was beaten by the latest Household Survey which showed 894k jobs created in January.

Lies and Statistics: SchiffGold Friday Gold Wrap Podcast Dec. 9, 2022

Mark Twain once said there are lies, damn lies, and statistics. The government excels in all three. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey digs into the recent jobs data. He reveals that the numbers just don’t add up and explains why the labor market might not be as awesome […]

Government Jobs Numbers Don’t Add Up

Have you ever had a gut feeling that the labor reports put out by the Bureau of Labor Statistics are hinky? If so, trust your gut.

Jobs Report: Not Strong Enough to Prevent a Soft Pivot

According to the BLS, the economy added 263k jobs in November with a modest revision up in October from 261k to 284k but a revision down in September from 365k to 269k. October was a beat against median expectations of 200k. The employment rate (black line) stayed flat at 3.7% while the labor force participation ticked […]

Jobs Report: Only Education and Government are Above Trend

Despite the better-than-expected headline number, the job market continues to slow. According to the BLS, the economy added 261k jobs in October with a big upward revision in September from 263k to 315k. October was a beat against median expectations of 205k. The employment rate (black line) increased from 3.5% to 3.7% while the labor […]

Jobs Report: Multiple Full-Time Job Holders Reaches All-Time High

According to the BLS, the economy added 315k jobs in August, which was on par with analyst estimates. While the job numbers continue to appear strong, a deeper look into the data shows some trends that may indicate weakness.

Jobs Report: Be Careful What You Wish For

According to the BLS, the economy added 528k jobs in July, blasting past analyst estimates of 250k. The strong report comes on the heels of a Fed meeting last week that made a point to state they are hyper-focused on the job market as a sign of a weakening economy. The White House and Fed […]

Peter Schiff and Laura Ingraham: The White House Recession Denial

The economic data indicates that the US economy is already in a recession. The Biden administration wants you to think otherwise, and the White House has come up with an interesting way to deny the recession reality. Just change the definition of a recession. Peter Schiff appeared on the Ingraham Angle with Lauren Ingraham to […]

Hiring Slows in 5 out of 8 Sectors

The May jobs report was widely regarded as strong. The US economy added 390,000 jobs, according to the latest data. But a deeper dive into that data reveals that the labor market might not be as strong as the mainstream spin is leading you to believe. Even with all the new jobs, hiring slowed in […]