Jobs Data: A Trumped Up Jobs Report

This is just par for the course. This is the same type of numbers that we've been getting under Trump and that we've been getting under Obama. We're creating a bunch of part-time jobs, service sector jobs, low-paying jobs. Read the complete article here: A Trumped Up Jobs Report 

Actually 48,000 striking GM workers returned to work. So the net increase in new Mfg. jobs (factoring in last months downward revision) for Nov. was just 2,000. Calling this a blow-out is fake news!

Bitcoin, Stock Market and More

The highlights from this week's media appearances from Peter Schiff.

Peter was mentioned on CCN,  Peter Schiff Says ‘It’s Game Over for Bitcoin’ After Epic Pump and Dump; Crypto Twitter Laughs and also on U Today on the same topic, Peter Schiff on Bitcoin Price Drop: "Pump-and-Dumpers Are Losing Their Mojo". 

You can find the weekly gold podcast from Schiff Gold here: Inflation? What Inflation? Friday Gold Wrap Dec. 6, 2019.

Here's the most important tweets from Peter Schiff this week:

What the Powell Put was, was the Fed’s assurance that under no circumstances would it consider raising interest rates. And it doesn’t matter what happens to inflation. (with a link to the article: The Lurking Inflation Monster)

I don't know if this December can take out last year's. But it's possible, given that there's no reason for the stock market to up where it is. The only reason the stock market has gone up is because of the Federal Reserve.

Capitalism Is Failing In Hollywood

"It’s time for an economic revolution. Capitalism today is failing us, killing us, and robbing from our children’s future."

In response to Mark Ruffalo’s tweet:

Capitalism is failing in Hollywood. Some actors make millions while others struggle waiting tables to make ends meet. Let’s redistribute the wealth. Equal pay for all actors. All actor compensation should be paid directly to SAG. Then each member will be given their fair share.

Video: The Fed's Exit Plan is QE Infinity

Location: New Orleans Investment Conference

After a decade of promises about how QE (quantitative easing) and zero interest rates would solve the subprime housing debacle, now as the Federal Reserve is lowering interest rates again it's become clear that there is no exit plan. Or if there is, the plan is QE to infinity. 

Topics:

• Monetary Policy, QE
• Gold and Silver markets are positioned for the rally of our lifetimes

Update: Recession Warning, Bitcoin & Smaller Government

Recession Early Warning? 

Well, it looks like the rich are tightening their belts. According to a report at Yahoo Finance, spending by the rich has slowed over the last year. This could be an early warning of a recession. Spending by the top 10% of households by income makes up nearly half of overall consumption in the US. 

I Want Less Government 

A lot of people want the rich to pay more taxes so that government can be bigger. I want the rich and everyone else to pay less taxes so that the government can be smaller. Less taxes means more freedom and prosperity. Let's make government smaller so the economy can be bigger! 

Early Bitcoin Buyers 

Not everyone who got into #Bitcoin early is ahead. Many took flyers on Bitcoin with small amounts of money early on. After the huge rise, thinking they were smart instead of lucky, they added much larger sums at much higher prices. So now they are down overall or soon will be.

This Rally Is Fueled By A Weak Economy

This stock market rally is being driven by a weak economy. It's a weak economy that's more instrumental in driving the market higher because the weak economy keeps the Fed in play. It keeps quantitative easing in play. It keeps interest rates going down.

U.S. - China Trade Deal

When Trump first announced Phase One he said it was already a done deal. Now it's delayed until sometime next year, if it ever happens at all. Trump should just see if he can get a Phase 1A deal done, or at least pretend that he can. That should be good for 500 more Dow points!

QE4, Pot Stocks, IPOs

Even as QE4 has pushed stock indexes to new highs, despite a weakening economy and the absence of a trade deal, not all stocks have gone along for the ride. Pot stocks have been smoked, falling 70% -90%. Bubbles are popping, and it will not be contained to pot stocks and IPOs!