The Fed Can’t Fight What It Doesn’t Understand - Ep 869
The Peter Schiff Show Podcast
00:00
Is the Labor Market Getting Stronger?
The ISM manufacturing number for January was supposed to come out at 48 and that would have been a slight decline from the unrevised 48.4 from December. Instead we got an even lower number. 47.4 was actually lower than the low end of expectations, which went from a high of 48.7 to a low of 47.5. The only number that we got today that I guess was stronger than expected was the jolt's number for December. But again, these numbers are not adjusted for inflation. Construction costs have skyrocketed over the last year. So the fact that construction spending is up just 7.7% means that actual construction is down. We are constructing a lot
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