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Peter Schiff: Obama’s Jobs Report is the Ultimate April Fools Joke (Video)
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In the video below, Peter begins in his usual sarcastic manner by wishing all the fools a happy April fools day, and from the looks of it, there’s no shortage of them. He says the April fools were out in force fawning over the April Jobs report, and some were even dumb enough to being hinting at a possible rate hike in June. For anyone just joining the Peter Schiff coverage, here is a quick review of what will happen if the Fed makes the same mistake it made in December. If Yellen is crazy enough to raise rates again, expect three things to happen for sure:
1) The U.S. stock market will go way down, and lets not forget the market is already off to its worst start in history;
2) Gold prices will go way up; and
3) The U.S. Dollar will drop like a rock
Now that we’ve got that foolishness out of the way, Peter wastes no time getting down to brass tax. He says point blank, that everyone scurrying to try to figure out what the numbers mean are complete fools. Not even Janet Yellen won’t learn from her mistake in December. Peter says, if that tiny rate hike was a trial balloon, consider it the Hindenburg. Without ruining the whole podcast, in the remainder of the first video Peter essentially goes on to say that after the worst start to a year in history (including the Great Depression), the stock market has finally gained back its losses and moved into positive territory, but not all asset classes recovered.
Actually, there was a LOT of carnage in the first quarter, resulting in an all out bloodbath in some asset classes. For example, the US Dollar had its worst quarter in over 5 years, which means it should come as no surprise that gold had a great quarter… in fact its best quarter in over 30 years! Ultimately, in the remainder of the first video, Peter reviews the rest of the economic figures that came out this week, and what they mean for the future.
NEW: THE FOLLOWING TWO POSTS FEATURE BOTH PETER SCHIFF AND DR. JIM WILLIE:
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
Peter Schiff and Dr. Jim Willie Warn Investors About Timing Fed Market Rally
ALSO DON’T MISS:
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
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In the second video, Peter does what he does best, and that’s light up the Fed, Janet Yellen, and anyone else dumb enough to believe the bull she’s selling. He justifies his position by saying the economic numbers coming out right now are so bad, that never before in history have we had economic numbers like this, that did not later to prove to be a recession. Period.
To all the optimists, including whoever is conducting the interview, Peter says, “WAKE UP!” Only TWO economic numbers “appear” to be “ok” right now… not good… but “ok.” The first is jobs, which is absurd, because as Peter has stressed a million times, over 80% of those jobs are part-time service sector jobs, HARDLY a sign of anything resembling economic strength especially considering that the people who are filling them used to have high paying corporate jobs, and now need 2-3 of the new service sector jobs just to survive.
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Furthermore, Peter points out that Obama and the rest of the talking heads consistently fail to mention that the U.S. stock market is ONLY up in terms of US Dollars. Relative to other currencies and Gold it’s actually DOWN, and odds are the US Dollar will FALL a lot faster than the stock market will RISE, which means we’re witnessing another slight of hand by the Emperor of Lies.
It’s time people WAKE UP! The US Dollar is Dying, Economic Collapse is On Our Doorstep, the reason other countries had a Secret Meeting at the G20 to Take Down the US Dollar is because the days of the Dollar as the World Reserve Currency are coming to an END, and it’s about time you learn How the Loss of the US Dollar as Reserve Currency Affects You Personally, or suffer the consequences. NEED MORE PROOF? The article below by Michael Snyder points out the disgusting reality that in an Obama “recovery,” 23% of workers in their PRIME years are out of work all together.
FOR MORE NEWS BY VOICE OF REASON CLICK HERE!
Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million working age Americans that do not have a job right now? I have written about this before, but today I want to focus just on Americans that are in their prime working years. When you look at only Americans that are from age 25 to age 54, 23.2 percent of them are unemployed right now. The following analysis and chart come from the Weekly Standard…
Here’s a chart showing those in that age group currently employed (95.6 million) and those who aren’t (28.9 million):
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“There are 124.5 million Americans in their prime working years (ages 25–54). Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed. This group of non-employed individuals is more than 3.5 million larger than before the recession began in 2007,” writes the Republican side of the Senate Budget Committee.
Clearly, we have never recovered from the impact of the last recession.
But let’s try to put these numbers in context.
Below, I would like to share two charts with you. They show what has happened to the inactivity rates for men and for women in their prime working years in the United States in recent years.
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In order to be considered “inactive”, you can’t have a job and you can’t be looking for a job. So this subset of people is smaller than the group that we were talking about above. The 23.2 percent of Americans in their prime working years that are unemployed right now includes those that are looking for a job and those that are not looking for a job.
These next two charts do not include anyone that has a job or that is currently looking for a job. These charts only cover “inactive” people in their prime working years that are not considered to be in the labor force.
As you can see in this first chart, the inactivity rate for men in their prime working years exploded higher during the last recession and then continued to go up even after the recession supposedly ended. At this point, it is hovering near all-time record highs. Does this look like an “economic recovery” to you?…
For women, we see a similar thing. In this next chart, you can see that the inactivity rate for women in their prime working years rose during the last recession and then just kept on rising. At this point, it remains far higher than it was during the last recession…
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What are we to make of all this?
For both men and women in their prime working years, the inactivity rate is significantly higher than it was during the last recession.
All of these people neither have a job nor are they looking for one.
So what in the world is going on here?
Are they independently wealthy?
Have these people found rich spouses to marry so they don’t have to work?
No, the truth is that the middle class in America is steadily eroding and poverty is absolutely exploding. Credit card debt has soared to a new record high, and 48 percent of all U.S. adults under the age of 30 believe that “the American Dream is dead”.
The issue isn’t that people don’t want to work.
The issue is that people cannot find enough work.
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And even if you have a job, that does not mean that you are on easy street. According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.
Tens of millions of Americans are now among the ranks of “the working poor”. So many families are watching their expenses soar while their paychecks go down or stagnate. If you are in this situation right now, then you probably know how exceedingly stressful it can be.
Just look at what is happening to the cost of health insurance. The following comes from Fox News…
Health insurance premiums have increased faster than wages and inflation in recent years, rising an average of 28 percent from 2009 to 2014 despite the enactment of Obamacare, according to a report from Freedom Partners.
And I am not exactly sure where they got those numbers. Personally, I know that my health insurance rates have gone up far faster than that.
Two years ago, my health insurance company wanted to double the health insurance premiums for my family even though we never get sick. So I switched to another insurance company that offered a policy that was only about 30 percent higher than my last one. But then when it came time to renew, that insurance company wanted to raise my rate by another 50 percent.
Thanks to Obamacare, American families are being absolutely crippled by the cost of health care. And of course we are seeing the rising cost of living so many other places as well. Our paychecks are being squeezed harder and harder, and this is absolutely killing the middle class. In fact, the middle class in America is now a minority for the first time ever.
And now for the real bad news – this is about as good as things are ever going to get in this country. As you can see from what I have shared above, we never really had any sort of meaningful “economic recovery”, and now we have entered the early phases of the next major downturn.
So where do we go from here? Unfortunately, our debt-fueled prosperity has provided us with a massively inflated standard of living that is not even close to sustainable. As this bubble bursts, the economic pain is going to be absolutely unprecedented.
But it won’t be just economic pain that we are facing. In my new book, I detail the things that I believe that are coming to this country, and I explain why the entire planet will soon be facing incredibly challenging times. It is going to be one of the most controversial Christian books of 2016, because it directly challenges many of the things that are being taught in mainstream churches today. My book is an ominous message of warning and an inspiring message of hope, and I truly believe that it is the most important thing that I have ever written.
No matter how you may see the future, the key is that we all learn to love one another. The years ahead are going to be extremely challenging, and those that want to chase everyone else away and survive as lone wolves are going to have a very rough time. We all need each other, and those that have friends, family and communities around them are going to be in a much better position to weather the coming storms.
So let us hope for the best, but let us also prepare for the worst…
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FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie: Expect More US Voter Fraud as US Debt Problem Looms
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Jim Willie and How the Loss of the US Dollar as Reserve Currency Affects You Personally
Dr. Jim Willie: Financial Deals Happening Behind Closed Doors; US Not Invited
Dr. Jim Willie: With Collapse of Dollar, Banks, Bonds, and Other Currencies Go Too
Dr. Jim Willie: US Dollar is Being Surrounded By All Sides; It’s Tragically Comical
Dr. Jim Willie: We’re in the Bottom of the 9th; The US Dollar is Dying (2/28)
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
Dr. Jim Willie and How To Simplify Your Finances To Survive Economic Collapse
Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives
Jim Willie, The Fed’s Week of Reckoning, and an Isolated United States
Jim Willie: After Banks Fail, Government Seizes IRA’s, 401k’s, and Pensions
Jim Willie, the Crumbling Global Economy, and the Dollar Crisis
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: Newest Recession Hiding in Plain View; American Dream Is Dead
Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History
Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
Peter Schiff: Due to the Feds Antics, the Market is Very Dangerous Now
Peter Schiff and “If The Economy Is Fine, Why Are So Many Large Retailers Imploding?”
Peter Schiff: Take a Good Look at the “New” American Dream!
Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead
Peter Schiff: Warning! Economic Storm Clouds Ready to Rain
Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options
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