RUSH TRANSCRIPT Charles all ░░░░░░░░ for examplar art goldilocks ░░░░░░░░ the masses Global stock ░░░░░░░░ are in a sweet ░░░░░░░░ after 26 folks 26 ░░░░░░░░ cuts last month and ░░░░░░░░ lot more on the ░░░░░░░░ drawing board Central banks ░░░░░░░░ like squirrels chasing each ░░░░░░░░ in the park You ░░░░░░░░ ever watch em They ░░░░░░░░ oblivious to to you ░░░░░░░░ everything allegation around them ░░░░░░░░ they re having a ░░░░░░░░ to you and everything ░░░░░░░░ around a them I ░░░░░░░░ to bring in qi ░░░░░░░░ CEO chief strategist Daniel ░░░░░░░░ tine know booth It ░░░░░░░░ feels awkward everybody s ░░░░░░░░ something does not compute ░░░░░░░░ Either the central banks ░░░░░░░░ completely wrong or the ░░░░░░░░ is completely wrong or ░░░░░░░░ just don t know ░░░░░░░░ they re trying to ░░░░░░░░ We live I swim ░░░░░░░░ a sea of confusion ░░░░░░░░ am the opposite of ░░░░░░░░ squirrel running around in ░░░░░░░░ park right now Laughter ░░░░░░░░ mean there is so ░░░░░░░░ in the way of ░░░░░░░░ that we must disregard ░░░░░░░░ have S P global ░░░░░░░░ and services ism non ░░░░░░░░ ism manufacturing All four ░░░░░░░░ those employment indexes for ░░░░░░░░ month of September were ░░░░░░░░ were contracting And in ░░░░░░░░ kind of a month ░░░░░░░░ is the employment report ░░░░░░░░ we get It s ░░░░░░░░ it s extremely confusing ░░░░░░░░ You mentioned people who ░░░░░░░░ not in the stock ░░░░░░░░ you know 75 of ░░░░░░░░ jobs that were created ░░░░░░░░ month were in health ░░░░░░░░ leisure and hospitality and ░░░░░░░░ of course government These ░░░░░░░░ very low paying jobs ░░░░░░░░ it s emblematic of ░░░░░░░░ we ve been seeing ░░░░░░░░ month after another to ░░░░░░░░ I ll add one ░░░░░░░░ thing Charles we had ░░░░░░░░ revisions to the month ░░░░░░░░ August and everyone was ░░░░░░░░ yea it wasn t ░░░░░░░░ negative You know what ░░░░░░░░ were negative revisions to ░░░░░░░░ the private sector jobs ░░░░░░░░ the month of August ░░░░░░░░ was only government jobs ░░░░░░░░ caused the upper trajectory ░░░░░░░░ Charles another thing that ░░░░░░░░ stands out to me ░░░░░░░░ this sharp I mean ░░░░░░░░ re talking about a ░░░░░░░░ decline in full time ░░░░░░░░ down almost 5090 000 ░░░░░░░░ a year ago 50900 ░░░░░░░░ That s 500 000 ░░░░░░░░ s real life That ░░░░░░░░ what real leaf people ░░░░░░░░ and feel Remember that ░░░░░░░░ single job that one ░░░░░░░░ has if one person ░░░░░░░░ three part time jobs ░░░░░░░░ make ends meet that ░░░░░░░░ counted as a three ░░░░░░░░ Even though it s ░░░░░░░░ one person And and ░░░░░░░░ now we are seeing ░░░░░░░░ job holders at an ░░░░░░░░ record level The sum ░░░░░░░░ continuing jobless claimants and ░░░░░░░░ time workers in the ░░░░░░░░ States is also higher ░░░░░░░░ it s been and ░░░░░░░░ is also there you ░░░░░░░░ multiple job holders It ░░░░░░░░ in recession recessionary territory ░░░░░░░░ well So what does ░░░░░░░░ say that we have ░░░░░░░░ have multiple jobs just ░░░░░░░░ make ends meet Charles ░░░░░░░░ it because we ve ░░░░░░░░ too much energy Is ░░░░░░░░ the explanation We just ░░░░░░░░ to work an extra ░░░░░░░░ Charles yeah You know ░░░░░░░░ re like that we ░░░░░░░░ fulfill ifment in different ░░░░░░░░ full full fulfillment in ░░░░░░░░ ways It is interesting ░░░░░░░░ basis points off the ░░░░░░░░ but 25 everyone agrees ░░░░░░░░ s still in the ░░░░░░░░ although again if Powell ░░░░░░░░ the data at face ░░░░░░░░ he wouldn t cut ░░░░░░░░ it s obviously that ░░░░░░░░ knows something s up ░░░░░░░░ these numbers In fact ░░░░░░░░ he was on stage ░░░░░░░░ a few days ago ░░░░░░░░ mentioned once again indeed ░░░░░░░░ job postings which by ░░░░░░░░ way are almost back ░░░░░░░░ where they were prior ░░░░░░░░ the pandemic And he ░░░░░░░░ understands what happens when ░░░░░░░░ get a 14 year ░░░░░░░░ in the eleventh of ░░░░░░░░ work woke In the ░░░░░░░░ of the workweek Companies ░░░░░░░░ cutting worker hours to ░░░░░░░░ bone And again that ░░░░░░░░ away from your n ░░░░░░░░ you re working fewer ░░░░░░░░ as well A 14 ░░░░░░░░ low Charles It all ░░░░░░░░ it all adds up ░░░░░░░░ hey I ve got ░░░░░░░░ than 30 seconds I ░░░░░░░░ to squeeze it in ░░░░░░░░ the bond market is ░░░░░░░░ this way you normally ░░░░░░░░ If the 10 year ░░░░░░░░ to to get above ░░░░░░░░ is the the inflation ░░░░░░░░ lingering still out there ░░░░░░░░ was much bigger before ░░░░░░░░ port if strike was ░░░░░░░░ Charles I think that ░░░░░░░░ going to take a ░░░░░░░░ of pressure And we ░░░░░░░░ got natural gas down ░░░░░░░░ today as well That ░░░░░░░░ pushing inflation up as ░░░░░░░░ So I I think ░░░░░░░░ bigger problem Charles is ░░░░░░░░ aggregate number of hours ░░░░░░░░ and the fact that ░░░░░░░░ s so many part ░░░░░░░░ and multiple job holders ░░░░░░░░ there s less money ░░░░░░░░ spend Charles all right ░░░░░░░░ talk to you again ░░░░░░░░ Have a good weekend ░░░░░░░░ folk folks, I’ve been