Nobody saw it coming. The US economy shed 23,000 jobs in July โ economists had predicted gains of 83,000. That's a swing of over 100,000 jobs in the wrong direction. And when you factor in the revisions to May and June, it's 103,000 fewer jobs than we thought we had. Meanwhile, the national debt just hit $40 trillion, the Iran conflict is grinding into its 165th day, and CPI is still running well above the Fed's target.
And yet โ gold just had its best week since January.
This week on The Crest Report, host Jeremy Herrell breaks down everything you need to know:
๐ The Jobs Shock โ What the July jobs report really means, why the government jobs losses are different from private sector losses, and what the labor force participation rate tells you about the real state of the American economy.
๐ The CPI Report โ What economists expected, why it might come in hotter than anticipated, and why whether inflation lands at 3.3% or 3.5%, it is still more than 50% above the Fed's target. One month of data does not fix five years of above-target inflation.
๐ข๏ธ The Iran War โ Day 165 โ Iran and Oman are "very close" to a Strait deal, but Iran is demanding $400 billion in war compensation as a condition. Three transit routes now exist through the Strait. Brent fell 11.3% in a single day on the latest pause โ and Jeremy asks the question everyone is thinking: are we just a dog chasing our tail at this point?
๐ฅ Gold Is Roaring Back โ The Wall Street Journal said it. Deutsche Bank called it still in its "explosive phase." Gold is at a two-month high, up 30% year-over-year, and every major Wall Street bank still has a year-end target above today's price.
๐ฅ Boomers Getting a Historic Rug Pull โ Robert Kiyosaki's warning. JPMorgan CEO Jamie Dimon says "somebody will disrupt the market." And Capital One closed hundreds of Trump Organization accounts โ if they can close his, they can close yours.
Whether you have a 401k, an IRA, or you're just trying to protect what you've built โ this episode is for you.
Get your free Investor Kit + free Portfolio Review + up to $25,000 in free silver with qualified purchases:
๐ (888) 991-6222
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The Crest Report โ Where Markets Meet Reality.
The Crest Report โ where markets meet reality โ brought to you by GoldenCrest Metals. For your free portfolio review and free, no-obligation investor kit โ plus up to $25,000 in free silver with qualified purchases โ text the word REPORT to METALS (638257). Or call 888-991-6222, or visit GoldenCrestMetals.com