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Peter Schiff Expressed: U.S. Q3 productivity fell 5.2%, the biggest quarterly drop in 62 years, as unit labor costs surged 9.6%. Rising labor productivity is the only way real wages can rise. Nominal wage gains will lag far behind soaring consumer prices. The worst #inflation in U.S. history has begun!
Community Response: When will we see the November rate from Fed?
Fortunately, I have some bitcoin to protect my interests.
Unfortunately, you jumped out of the frying pan into the fire.
Old man yells at Bitcoin. Don’t agree with this comparison. Look in a bigger picture, bitcoin practically had no “losing” years in its history. Just temporary price swings. However, gold had years and years of “losing” in it’s history. Gold is more centralized and a more manipulated asset.
Bitcoin/others/blockchain may be used in the near future isn’t it a ledger? Isn’t Eurodollar a ledger of sorts? It’s just not going to be valued in fiat in such a manner as it is now. These crashes may be a way of finding that value as a ledger system and gamblers keep pushing it up?
We agree on the problem but not on the solution. That’s a pity.
Don’t worry, he owns bitcoin just hasn’t admitted it yet.
Is the best time to begin with excuses, so the rich can cash out the hype they made.
Stagflation? Hyperinflation? Does that mean gold will be free soon?
Buy Bitcoin. Peter Schiff for perfect hedge against inflation.
Less productivity, more liquidity.
I love how you declare these things as if you know what you’re talking about. Still using gold as paperweights.
It’s ok people will manage extra cost by trading stocks.
For the majority of the American people, it is just numbers. They don’t care much about those numbers. What they care much is a GREAT minimum wage/payday to live a good life.
Better hedge against it and buy bitcoin. It won’t be worst inflation, not this time. The wages are only catching up with past inflation. It’s fair.
Real wage growth isn’t when you factor in inflation. Therein lies the stagflation problem.
How much do you make scaring the people. Yes, it beat last reading, which fell 5%. Bad, very bad.
And there starts the rise of bitcoin. Inflation has begun he says it’s been going on for a while now. It’s going to be tough few years for ordinary people.
Bitcoin is recovering faster than you blink. Did you buy the dip, boomer? Bitcoin.
The third industrial revolution is clearly in the saturation and degeneration phase: Only the strongest companies can withstand the competition or take over their competitors at the end of industrial revolutions velocity of money is hitting record lows.
And gold just shrugs as usual. Heaven forbid these corporations makes few less millions to pay a decent wage. CEO’s need to average $8,000 an hour too right?
Don’t sound to excited. What does this mean for housing prices? Will interest rates go up and house prices come down to make them more attractive?
I found the common-sense answers I think 1) Inflation Increases the Cost of Home Construction resulting in 2) Higher Home Prices while higher cost of borrowing money leads to 3) Decline in Financed Home Purchases meaning 4) REIT’s with Rental Properties may be a good hedge?
Rise of greediness is exponential. Print more $$ and make everyone millionaires. Who the hell wants to be productive?
Blaming current situation won’t make you hero because we all know the key cause of this. Making an unbiased recommendation for a realistically good policy is the key as a professional.
Real wages provide workers with incentives to be more productive, median and minimum wages drag down productivity.
