Rebel Capitalist News Payroll Report Shocks Market, New GOLD BACKED Currency, Inflation Fears Spreading
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Feb 7, 2025 The payroll report reveals unsettling discrepancies about job creation and unemployment, prompting an exploration of immigration's role in labor statistics. Predictions suggest a significant rise in unemployment, with potential job losses looming. The discussion delves into the pitfalls of government economic reporting and highlights Zimbabwe's attempts at a gold-backed currency amid rising inflation fears. Additionally, it addresses how political affiliations influence economic perceptions and consumer pricing, while also introducing a new channel for macroeconomic interviews.
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Payroll Report Discrepancy
- The payroll report shows fewer jobs created than expected, but the unemployment rate decreased.
- This seemingly contradictory data is explained by the inclusion of illegal immigration data.
SOM Rule Trigger
- The speaker questions the validity of the SOM rule being triggered by illegal immigration.
- He argues that the data used to trigger the rule didn't include the relevant immigration figures.
BLS Adjustments and Immigration
- The BLS report includes adjustments for immigration in its unemployment calculations.
- The speaker questions the accuracy of these adjustments, citing a 2.9 million increase in population due to immigration in 2023, which he believes is a significant underestimate.