There's no fooling analysts on inflation as U.S. payroll data accompanies fresh Bitcoin price rejection.
Wall Street opened with a whimper despite U.S. payrolls for July coming in at twice estimated levels. The curious reaction had some analysts arguing that the numbers did not in fact show economic strength, but rather existing workers taking on second jobs due to inflation.
“The gain of 528K jobs in July as the labor force participation rate fell to 62.1, means that most of the new jobs went to people who already had jobs,” gold bug Peter Schiff“Collapsing real wages force many workers to moonlight to pay the bills. If the labor market were strong one job would be enough.”
Schiff was far from alone in his suspicions about the state of employment, with Wealthion CEO Adam Taggart among others voicing distrust.
Be a housing crisis unless we have a significant bout of unemployment. It’s never left my memory. Boy were they wrong.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin price reaches $23.4K on 4.6% gains amid ‘very mixed’ outlookBitcoin saw an overnight surge, but will the gains continue? (Reporting via WilliamSuberg)
Read more »
Bitcoin price reaches $23.4K on 4.6% gains amid ‘very mixed’ outlookBitcoin saw an overnight surge, but will the gains continue? (Reporting via WilliamSuberg)
Read more »
Bitcoin, Ethereum Technical Analysis: Crypto Markets Down Ahead of Friday’s Nonfarm Payrolls Report – Market Updates Bitcoin NewsBitcoin was trading lower on Thursday, ahead of tomorrow’s monthly nonfarm payrolls report. Ethereum was also lower.
Read more »
Bitcoin may behave more like US Treasury bonds: Bloomberg IntelligenceIs Bitcoin entering a new era? The latest crypto market research from Bloomberg Intelligence suggested that BTC may start to behave more like United States Treasury bonds and gold, rather than stocks.
Read more »
Crypto Bros Are Trying to Ditch Their Rolex WatchesThe secondhand market for luxury watches has reportedly been flooded in the last few months as a result of the crypto collapse
Read more »
First Mover Asia: Bitcoin Snaps Losing Streak as Pelosi Taiwan Trip Passes Without IncidentRisks posed by this week's visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi appear failed to materialize – at least in the eyes of the bitcoin market thesamreynolds reports
Read more »