Jamieson, Fausset and Brown on Hosea 12:8

8. And--that is, Notwithstanding.

Yet I am ... rich--I regard not what the prophets say: I am content with my state, as I am rich (Re 3:17). Therefore, in just retribution, this is the very language of the enemy in being the instrument of Israel's punishment. Zec 11:5: "They that sell them say ... I am rich." Far better is poverty with honesty, than riches gained by sin.

my labours--my gains by labor.

they shall find none--that is, none shall find any.

iniquity ... that were sin--iniquity that would bring down the penalty of sin. Ephraim argues, My success in my labors proves that I am not a guilty sinner as the prophets assert. Thus sinners pervert God's long-suffering goodness (Mt 5:45) into a justification of their impenitence (compare Ec 8:11-13).