Episode Details

The financial press called the September jobs report a miss — Peter Navarro says they got it wrong again. He takes the number apart: unemployment rose only because the labor force grew, with prime-age employment and participation both climbing. The private sector added jobs while government payrolls shrank, manufacturing gained another 9,000, and the factory-construction crews building the plants of 2027 and 2028 kept hiring. Real wages for manufacturing and construction workers are up, jobless claims are the lowest relative to the workforce since 1967, and unemployment for Americans without a high school diploma hit a record low. So why did the Warsh Fed hike rates in September, into the teeth of an oil shock, with no demand-side inflation to cure? Navarro flags the timing — a rate hike 48 days before the election, the mirror image of the Fed's 50-point cut 48 days before the 2024 vote — and asks who's really running the Fed. Plus his new book, Why Fauci Must Rot in Prison, on Amazon now. No filler. No spin. Just the hard truth at Navarro speed.