Oil hits $112 as Trump vows to bomb Iran into the Stone Age — and the jobs data everyone’s celebrating is hiding a collapsing labor market.
• Today’s podcasts is sponsored by Pebl. Go to http://hipebl.ai to get a free estimate.
• Today’s podcast is also sponsored by West Red Lake Gold Mines. Ticker WRLGF
Peter Schiff records from the British Virgin Islands, breaking down the latest economic data against the backdrop of the escalating Iran war. The March jobs report showed 178,000 jobs added — well above the 51,000 estimate — but Schiff argues the number is misleading, noting that 43% of new jobs were in healthcare, a sign of a sicker nation rather than a stronger economy. He highlights the weakest wage growth in five years at 3.5% year-over-year and the lowest labor force participation in five years at 61.9%.
Oil prices surged to $112 per barrel amid Trump’s pledge to “bomb Iran back to the Stone Age” over the next two to three weeks, with the service sector PMI falling into contraction at 49.8. Schiff warns that stagflation is now undeniable and that oil-driven inflation will force massive government spending and money printing, ultimately crushing the dollar and sending gold well above $5,000. He criticizes Trump’s economic lies, the Supreme Court’s ruling striking down Liberation Day tariffs as unconstitutional, Warren Buffett’s Fed praise, and growing redemption freezes across investment funds as signs of a brewing financial crisis.
Chapters:
#PeterSchiffShow #OilPriceSurge #GoldInvesting
