The Bureau of Labor and Statistics reports Friday that the US lost 29,000 manufacturing jobs in March.
Without any hope and no legs to stand on, the DOW see’s it’s biggest comeback in 23 years after a brutal start in 2016. What economic factors changed since Feb. 1 to produce these gains you may ask? The answer is they worsened as global production continues to plummet leaving would be workers on the side lines.
The “Red Sea” parted once again on Wednesday after Fed chair Janet Yellen warned that global production was in dire straits. In a world where free markets actually exist, this should have sent stocks spiraling downward but instead Wall Street is re-living the Roaring Twenties.
Gold last reported a.m. Friday is $1230.60 and silver is $15.40.
US GDP has tumbled 2 consecutive quarters signaling, recession, which is really a depression if you look at current US unemployment numbers, but who cares. It doesn’t make any difference that 52% of American households live at or below the national poverty level. The 95 million unemployed American’s don’t really exist if we ignore them long enough. Let’s not talk about the fact that wages are down 14% over the past 2 years.
Apparently, Wall Street expects us to believe that no matter how terrible things become for the US economy, stocks are still going to rise. We may not have a penny to pay the light bill, but our stocks are sure doing well.
Jan. 1, 2016 exposed stock markets for what they are as more than $23 trillion dollars were lost around the globe. We are in the early stages of a full blown stock market crash and many working class investors are going to see their retirements wiped out. It’s a certainty!
The facts are that Wall Street performance should mirror the US economy and clearly it does not. Without jobs, economies die and this is where we are today around the globe.
We don’t have to be victimized by stock markets as long as we can protect ourselves with tangible assets like gold and silver. It’s time to protect our wealth.
Give us a call at 1-800-577-3195 to begin the process.