Peter Schiff: The Effect of Obamacare

Listen to Peter explaining the jobs numbers released today.

I explained here that Obamacare will destroy full time workers.

When Obamacare rolls out in 2014, we will continue to see a shift to part-time employment as employers will fire full-time workers (>30 hours/week) and hire part-time workers (<30 hours/week) to avoid paying for Obamacare.

And you can witness that on this chart. See how the red chart edges upwards while the blue chart decreases in June 2014.

I also pointed out that this always coincides with a pending recession. We’re still early, let’s see how this trend will evolve later on.