The Peter Schiff Show Podcast
Abolish the US Council of Economic Advisers - Ep 960
May 13, 2024
The podcast delves into skepticism about jobless claims data, consumer sentiment drop, and Biden's economic perception. It discusses shrinkflation, cereal box prizes, and inflation causes. It explores the resilience of gold mining stocks, government borrowing vs. printing money debate, and inflation hedging strategies. Financial turmoil and regulatory actions regarding Europacific Bank closure are also highlighted.
01:04:37
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Quick takeaways
- Jobless claims spiked, consumer sentiment fell due to high inflation concerns.
- Consumers fear worsening conditions with rising interest rates and Fed's 2% inflation target.
Deep dives
Analysis of Jobless Claims and Consumer Sentiment Data
The podcast discusses the recent surge in weekly jobless claims and the significant miss in consumer sentiment numbers. Jobless claims spiked, reflecting layoffs that were not accurately reflected in previous reports. Consumer sentiment fell far below expectations, with inflation concerns driving consumer pessimism, notably above the Fed's 2% target.
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