Gold prices hit a three month low in early U.S. trading Friday as the dollar index moves closer to 2015 highs. Gold last reported a.m. is $1089.10 and silver is back below $15.00 at $14.80.
More lies today: The Labor Department claims the economy is showing signs of growth as non farm payrolls rose by 271,000 in October. What they aren’t mentioning is the Labor Force Participation rate remains at a 38 year low. As of this update, 94,513,000 Americans are unemployed.
The U.S. dollar index hit a 3 month high overnight after Fed Chair Janet Yellen said that a U.S. rate hike in December is a “live possibility.” So are flying pigs. Raise rates by any significant and meaningful level and we’ll see global derivatives explosions and the Fed knows this.
Yellen claims that the U.S. economy is actually, “performing well.” Where exactly it’s performing well we aren’t sure of unless you consider exorbitant salaries being paid out to Washington politicians as a factor. Has the thought ever occurred to us that Washington doesn’t produce a single Lincoln penny? Instead, they take from those of us who are working and choose to squander the stolen funds on their lavish lifestyles.
If it sounds like we’re angry, it’s because we are. Working class Americans have been abused long enough and it’s past time to change course.
With more than 94 million U.S. citizens not working and over 55% of American households living at, or below poverty level, can we agree that wrong is wrong? If we citizens don’t force “real political change,” at federal, state and local levels, our children and their children will be handed the gift of communistic slavery.
Sadly, at least 55% of Americans could care less as long as they don’t have to be concerned with facing the ugly truth. Live for today and who care’s what happens tomorrow is obviously who and what we’ve become as a nation.
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