So far, the Dow has regained pus 294. The markets might be overreacting, but there are clear warning signs. Biden-Harris policies are a disaster.
The unemployment rate isn’t 4.3%. The U6 is 7.8%. They only reported the U6 up until 1994, until they realized they’d look better if they reported the inaccurate lower rate. We have high unemployment and inflation.
Forbes explained that the government leaves a lot out of those employment numbers, like mortgage interest rates, so people are paying a lot more.
Only 114,000 jobs were added, and most of them were government jobs or government-related jobs. It’s more of the Biden-Harris big government we can’t afford.
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As Schiff said, we have been in recession all year. Schiff predicts stagflation with no way out except with more significant pain.
The interview with Steve Forbes and Peter Schiff is a must-see. Schiff can be too negative at times, but he backs up his comments in the clip.
How long can we spend trillions on wasteful pie-in-the-sky nonsense and run up debt without it all imploding? It will implode.
The politicians won’t cut or deregulate. We have a huge welfare state. The market is overvalued, and it has to come down.
Schiff said the Feds will have to do more QE, which will cause more inflation and kill the dollar.
Watch:
Biden-Harris are lying to you about why we have this problem:
S&P Global: remember when they said “supply chains are causing inflation?” Well, the kinks are gone from the supply chain and shortages have evaporated w/ both indexes back to long-run averages – maybe printing $4 trillion had something to do w/ higher prices… pic.twitter.com/Bew4U7zFkG
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 6, 2024
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