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Jobs Up But Earnings and Participation Down – Ep. 42

The Peter Schiff Show

  • December jobs report up; unemployment down
  • Average hourly earnings dropped
  • Labor force participation hits new low, except for older Americans
  • Fewer young workers supporting the Social Security system
  • Most credit comprised of student loans and auto loans
  • Auto delinquencies highest since 2008, indicating a bubble
  • Obama’s plan to make community college free will further inflate costs
  • Charles Evans calls for more inflation before raising interest rates
  • Denies relationship between cheap money and bubbles
  • The term “patience” indicates no timeframe for higher rates
  • Gold stocks very strong and gold prices continue to rise in face of rising dollar