We need a new word other than recession for the economy when the real world cost of living is unaffordable but the stock owners and employers are doing fine.
My grandkids asked me for advice yesterday because I have been teaching and helping them to save money since birth. I told them that they might get burned by this stock market and that even though they are young they might want to think low risk for the rest of the Trump term. They are debt free so I feel like we have done a great job.
I am following my own advice but am old. I moved our money to almost zero risk accounts and we are also debt free.
It is hard for a non billionaire to know what to do.
1. these job gains are NOT in manufacturing (or, more broadly goods-producing sectors) which was & presumably remains the rationale for trumpian tariffs
2. the gender split reflects the more general effect of education on labor-market outcomes (&, more broadly, income distribution) since women are increasingly more likely to have completed post-high school education
I wonder how long the health care sector can continue job growth. Anecdotally, the largest health care provider in my state (New Mexico) just let 150 employees go and announced they were dropping their Medicare Advantage Plan for next year. They are a "non-profit" and have had several years of losses. Just wondering.
One hates to burst anyone’s bubble but this cost of living crisis that Americans are currently seeing is not something that happened in the last 18m. Of course WE the People would expect that POTUS would do something, anything to try to deal with this economic problem. But like COVID Cheeto is completely over his incompetent head to handle the matter.
The fact is this: the US dollar has become worthless as a fiat currency. In terms of gold the value of the dollar is 4 to 6 cents of what it was in 1971 when Nixon took the country off a gold standard as a result of government QE. Let that sink in for a moment. The dollar in your wallet has the purchasing power of 4 to 6 cents while many if not most salaries have not kept up with the cost of living due to the ineptness of elected officials(https://bit.ly/4f4L9BG). Currencies are not money, just a front for credit and not money. Gold/sliver is money and the US Constitution calls for a metallic standard for its money.
In a historical perspective in the early 1920’s after WWI postwar Germany’s economy seemed to be humming along without a gold standard until it wasn’t and by 1922 people were burning Reichsmarks to stay warm. Saliently the politicians knew the currency was in trouble but didn’t do anything about it. And there are numerous examples littered throughout history of countries that have flirted with a fiat currency and all have ended in disaster. Now Deutsche Bank predicts $8000/oz gold.
China knows this. It sits on 70K tonnes(the US has an unaudited 8Ktonnes) and many American financial commentators like Ray Dalio are warning of a financial crisis. Cheeto will preside over the next Great Depression and will make GW Bush’s Great Recession look like a picnic.
WE the People should demand that this issue be front and center as an election issue for now and until the country is put back on a gold standard but the major lesson is that gold is not an investment. It’s a way to protect your wealth.
We need a new word other than recession for the economy when the real world cost of living is unaffordable but the stock owners and employers are doing fine.
My grandkids asked me for advice yesterday because I have been teaching and helping them to save money since birth. I told them that they might get burned by this stock market and that even though they are young they might want to think low risk for the rest of the Trump term. They are debt free so I feel like we have done a great job.
I am following my own advice but am old. I moved our money to almost zero risk accounts and we are also debt free.
It is hard for a non billionaire to know what to do.
2 comments:
1. these job gains are NOT in manufacturing (or, more broadly goods-producing sectors) which was & presumably remains the rationale for trumpian tariffs
2. the gender split reflects the more general effect of education on labor-market outcomes (&, more broadly, income distribution) since women are increasingly more likely to have completed post-high school education
So glad to see the caring professions gaining a foothold in our economic balance sheet.
I wonder how long the health care sector can continue job growth. Anecdotally, the largest health care provider in my state (New Mexico) just let 150 employees go and announced they were dropping their Medicare Advantage Plan for next year. They are a "non-profit" and have had several years of losses. Just wondering.
Good news for employment but inflation is still an issue.
Inflation: The Need For A Gold Standard(https://bit.ly/4eoXrUt)
One hates to burst anyone’s bubble but this cost of living crisis that Americans are currently seeing is not something that happened in the last 18m. Of course WE the People would expect that POTUS would do something, anything to try to deal with this economic problem. But like COVID Cheeto is completely over his incompetent head to handle the matter.
The fact is this: the US dollar has become worthless as a fiat currency. In terms of gold the value of the dollar is 4 to 6 cents of what it was in 1971 when Nixon took the country off a gold standard as a result of government QE. Let that sink in for a moment. The dollar in your wallet has the purchasing power of 4 to 6 cents while many if not most salaries have not kept up with the cost of living due to the ineptness of elected officials(https://bit.ly/4f4L9BG). Currencies are not money, just a front for credit and not money. Gold/sliver is money and the US Constitution calls for a metallic standard for its money.
In a historical perspective in the early 1920’s after WWI postwar Germany’s economy seemed to be humming along without a gold standard until it wasn’t and by 1922 people were burning Reichsmarks to stay warm. Saliently the politicians knew the currency was in trouble but didn’t do anything about it. And there are numerous examples littered throughout history of countries that have flirted with a fiat currency and all have ended in disaster. Now Deutsche Bank predicts $8000/oz gold.
China knows this. It sits on 70K tonnes(the US has an unaudited 8Ktonnes) and many American financial commentators like Ray Dalio are warning of a financial crisis. Cheeto will preside over the next Great Depression and will make GW Bush’s Great Recession look like a picnic.
WE the People should demand that this issue be front and center as an election issue for now and until the country is put back on a gold standard but the major lesson is that gold is not an investment. It’s a way to protect your wealth.
Thanks, Justin. Glad we can trust these numbers!