Jobs Missed. Wages Stalled. Tariffs Failed. Bonds Fell Anyway.
Peter Schiff
141,110 views
Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.
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Peter Schiff breaks down the September jobs report: just 29,000 jobs against an 85,000 estimate. July was revised back to negative 10,000 and August down to 133,000. Unemployment rose to 4.2%, private payrolls added 46,000, and average hourly earnings rose only 0.1%, the smallest monthly gain in more than five years, while August CPI rose 0.4%. Peter had forecast both the miss and the downward revisions on Tuesday's podcast.
Peter explains why the bond market sold off despite the weak report and softer August PCE data, even as the odds of an October rate hike fell sharply. The 10-year Treasury closed the week at 5.28% and the 30-year at 5.63%, which he calls classic bear market action. He also covers personal income rising 0.2% against spending up 0.9%, a 4.1% savings rate, and an August trade deficit of $132.6 billion, the fourth worst in US history, which he says shows tariffs have not reduced imports and that importers are the ones paying them.
On stocks, Peter notes the Nasdaq hit an intraday record while 147 stocks made new 52-week lows against 38 new highs on the week, breadth he compares to 1999-2000 and 1973. He responds to President Trump's interview comment that inflation will pay off the debt, arguing it amounts to a sell signal for bondholders, and disputes Trump's claim that he inherited inflation from Biden.
Peter reviews gold near $4,140, silver at $60.37 and the miners, Bitcoin near $84,500 and Strategy's Stretch trading back near par, and argues the data points to stagflation, with AI capital spending propping up GDP. He discusses the G7's 100 million barrel oil reserve release, mortgage rates he thinks could reach 8% this month, risks to housing, autos, credit and Fannie and Freddie, $40 trillion in debt at 5% interest, Janet Yellen's past comments on low rates, and Rick Santelli's final day at CNBC. He closes by urging listeners to buy the dip in gold and silver, with support near $4,000 and $60.
Chapters:
00:00 Bond Crisis Warning
01:02 September Jobs Shock
03:02 Revisions and Labor Details
06:22 Wages Lag Inflation
08:16 Bonds Sell Off Anyway
12:36 Income Spending PCE
15:47 Trade Deficit Tariffs
20:13 Stocks Ignore Rising Yields
26:48 Trump Inflation Pays Debt
28:06 Inflation Pays Debt Claim
29:02 Who Owns Inflation Blame
30:17 Bondholders Get Burned
31:20 Weekly Market Scorecard
31:49 Gold Silver Yield Paradox
34:13 Stagflation And AI Distortion
36:17 Bitcoin Strategy Stretch Update
38:35 Bond Vigilantes Take Over
40:21 Oil Reserves And Mortgage Shock
45:08 Debt Math And Crisis Setup
49:51 Midterms And Voter Reality
51:56 Buy Metals And Wrap Up
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#Inflation #JobsReport #BondMarket
20 Comments
The answer is, we can NOT trust anything they say or tell us...🤫
If you're still relying on traditional 60/40 diversification, you're financing the government's debasement at your own expense.
Retail is stuck guessing whether gold runs to $5,000 or tech finally dumps.
I deployed my liquidity into Strat Delta.
Automated volatility capture. Double-digit market-neutral yield. Zero reliance on rate cuts.
When the currency is the liability, you don't lend it out. You trade the turbulence.
Jobs Missed. Wages Stalled. Tariffs Failed. Bonds Fell Anyway.
Peter Schiff
141,110 views
Peter Schiff on a 29,000 jobs miss, weak wage growth, a $132.6B trade deficit, Trump's inflation remark, and why bonds sold off anyway.
📢 Please Support Our Sponsors:
Odoo. Get your first application free for life at https://www.odoo.com/r/peter
DripDrop. Stock up now at https://dripdrop.com and use promo code GOLD for 20% off
Peter Schiff breaks down the September jobs report: just 29,000 jobs against an 85,000 estimate. July was revised back to negative 10,000 and August down to 133,000. Unemployment rose to 4.2%, private payrolls added 46,000, and average hourly earnings rose only 0.1%, the smallest monthly gain in more than five years, while August CPI rose 0.4%. Peter had forecast both the miss and the downward revisions on Tuesday's podcast.
Peter explains why the bond market sold off despite the weak report and softer August PCE data, even as the odds of an October rate hike fell sharply. The 10-year Treasury closed the week at 5.28% and the 30-year at 5.63%, which he calls classic bear market action. He also covers personal income rising 0.2% against spending up 0.9%, a 4.1% savings rate, and an August trade deficit of $132.6 billion, the fourth worst in US history, which he says shows tariffs have not reduced imports and that importers are the ones paying them.
On stocks, Peter notes the Nasdaq hit an intraday record while 147 stocks made new 52-week lows against 38 new highs on the week, breadth he compares to 1999-2000 and 1973. He responds to President Trump's interview comment that inflation will pay off the debt, arguing it amounts to a sell signal for bondholders, and disputes Trump's claim that he inherited inflation from Biden.
Peter reviews gold near $4,140, silver at $60.37 and the miners, Bitcoin near $84,500 and Strategy's Stretch trading back near par, and argues the data points to stagflation, with AI capital spending propping up GDP. He discusses the G7's 100 million barrel oil reserve release, mortgage rates he thinks could reach 8% this month, risks to housing, autos, credit and Fannie and Freddie, $40 trillion in debt at 5% interest, Janet Yellen's past comments on low rates, and Rick Santelli's final day at CNBC. He closes by urging listeners to buy the dip in gold and silver, with support near $4,000 and $60.
Chapters:
00:00 Bond Crisis Warning
01:02 September Jobs Shock
03:02 Revisions and Labor Details
06:22 Wages Lag Inflation
08:16 Bonds Sell Off Anyway
12:36 Income Spending PCE
15:47 Trade Deficit Tariffs
20:13 Stocks Ignore Rising Yields
26:48 Trump Inflation Pays Debt
28:06 Inflation Pays Debt Claim
29:02 Who Owns Inflation Blame
30:17 Bondholders Get Burned
31:20 Weekly Market Scorecard
31:49 Gold Silver Yield Paradox
34:13 Stagflation And AI Distortion
36:17 Bitcoin Strategy Stretch Update
38:35 Bond Vigilantes Take Over
40:21 Oil Reserves And Mortgage Shock
45:08 Debt Math And Crisis Setup
49:51 Midterms And Voter Reality
51:56 Buy Metals And Wrap Up
Follow @peterschiff
X: Twitter: peterschiff
Instagram: Instagram: peterschiff
TikTok: TikTok: peterschiffofficial
Facebook: Facebook: peterschiff
Free Reports & Market Updates: https://www.europac.com
Book Store: https://schiffradio.com/books
Sign up for Peter's most valuable insights at https://schiffsovereign.com
Schiff Gold News: https://www.schiffgold.com/news
#Inflation #JobsReport #BondMarket