The household survey says we've lost jobs every month of 2026. The establishment survey says record highs. One of them is lying.This episode is sponsored by Odoo. Sign up for free at https://www.odoo.com/r/peterThis episode is also sponsored by Hims. Visit https://hims.com/gold to get a personalized, affordable plan that gets you.The April jobs report showed 115,000 jobs created against expectations of 63,000 — but 391,000 of those came from the birth-death model, meaning without statistical assumptions the economy actually lost jobs. The household survey confirms this: employment declined 226,000 in April alone, with net job losses every month of 2026 averaging 343,000 per month. Full-time jobs collapsed by 424,000 in a single month, dragging the total to its lowest since December 2024. Labor force participation fell to 61.8%, the lowest since October 2021.Markets rallied to record highs on ceasefire optimism, with the Nasdaq up 4.5% and silver surging 9.4% on the week. Peter Schiff argues the AI spending driving GDP is a bubble comparable to dot-com — the technology is real but the stocks are wildly overvalued and most will go to zero. He dismantles Bernie Sanders' criticism of Jeff Bezos for layoffs, pointing out Bezos employs 1.5 million while Sanders has created zero private-sector jobs. On the debt, Schiff debunks the claim that $31.8 trillion in US government assets offset the national debt — most of it is illiquid land, national parks, and defaulting student loans that cannot service a single dollar of interest payments.Chapters:00:00 Show Cold Open00:56 Podcast Intro01:20 April Jobs Beat03:19 Job Quality Concerns04:58 Participation Rate Drop07:22 Household Survey Reality07:52 Birth Death Model Critique12:26 Full Time Collapse14:57 War Talk Tease15:29 Sponsor Odoo Ad17:31 Markets Rally on Peace Hopes21:48 AI Bubble Warning25:03 Bezos vs Sanders Debate30:34 Sponsor Hims Ad31:16 Telehealth Weight Loss Setup31:57 Metals Rally Recap32:30 Copper and AI Demand33:56 Miners and Physical Buying36:12 Oil Dollar and War Fallout37:10 War Narrative and Objectives40:22 Bond Yields and Default Risk45:10 Debt Math and Interest Spiral50:31 Fake Asset Claims Debunked57:05 Preparing Investors for Crisis59:34 Final Sign OffFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiffFree Reports & Market Updates: https://www.europac.comBook Store: https://schiffradio.com/booksSign up for Peter's most valuable insights at https://schiffsovereign.comSchiff Gold News: https://www.schiffgold.com/news#PeterSchiffShow #JobsReport #GoldInvestingOur Sponsors:* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy