LOS ANGELES, Sept. 26, 2018 /PRNewswire/ -- The Fed says the economy is strong and getting stronger, yet financial analysts from every corner of industry are talking about the unstoppable coming of a crash, projected to be faster to start, longer to last, and deeper to drop, compared to the financial beating experienced in 2008! The New York Post calls it "worse than the Great Depression." Why?
- US household debt of $13.3 trillion exceeds the 2008 peak
- Credit card and auto loan debt exceeds the 2008 total
- Mortgage lending amounts are near equal to the $9 trillion on the books in 2008, and
- Student loan debt has skyrocketed to $1.5 trillion from its $611 billion level in 2008
Meanwhile, central bankers have flooded global economies with $70 trillion more in fiat currency, than what was in circulation in 2008. The total has swollen to more than $247 trillion, nearly 2½ times the size of the entire global economy.
From 1973 to 2016, domestic wages increased on average by 12.5%, that's less than 3/10 of 1% per year. So obviously, wages haven't nearly kept up with productivity or inflation, but what's worse is that part-time employees don't get benefits. So not only do they have to work multiple part-time jobs in many cases, but they don't participate in retirement programs and they don't qualify for medical benefits. Once again, the increasing cost of doing business is being dumped squarely on middle class shoulders that can least afford it.
Rising interest rates are making daily necessities more expensive and the middle class will soon be forced to "cut back" on expenses, which will directly affect the borrow and spend lifestyle they've grown accustomed to. This sudden shift taking root will rapidly create a recession of epic proportions, while costs rise, credit dries up, and demand declines, as the middle class is forced to live with less.
Physical precious metals provided peace of mind for many during the last downturn and at today's lower metal prices many are realizing what a great opportunity exists to capture stock market profits at a high and buy physical precious metals with plenty of potential room to run back up. You may never again have such a golden opportunity. But no matter what, don't get caught without a chair when the music stops!
CONTACT: [email protected]
SOURCE American Bullion