The Downfall of Jobs
There was a time in America when virtually anyone that wanted a job could go out and get one. Back in 1969, 95 percent of all men between the ages of 25 and 54 had a job. The criteria that defines a good job today is based on the idea that one must earn over $18.50 an hour and have employer-sponsored health insurance and retirement plan. Anyway, for the past few years, until recently, good paying manufacturing and professional jobs have been replaced by low paying service jobs. Today, those low paying service jobs are transition into no jobs. With 77% of Americans living paycheck to paycheck at least some of the time, things are going to get a lot worse.
The BLS BS
Well, the election is over and now we get unadjusted unemployment above 8%. What a surprise. Not!!! Using seasonal adjustments, new unemployment claims dropped from 395,000 to 370,000; however, unadjusted claims soared by over 139,000. When looking at these figures, keep in mind that we are in the Christmas shopping season where we have all those wonderful temporary job opportunities.
The Fiscal Cliff
When one hears the talking points of the “Fiscal Cliff”, remember, it is a symptom and not the cause of economic calamity. The fiscal cliff is the result of the inability of politicians to do the right thing and be fiscally responsible. So, ignore the promises and threats, because in the long run, we went over the cliff years ago.
Gold Ready To Rocket
Officials at Goldman Sachs called for the end of the gold bull market; however, evidence laid out by Ron Rosen has a different theme. In spite of the negative press and the paper flying, central planners are scooping up the yellow metal at a premium. Understand this, Goldman had a call for $200 oil the same week that oil topped out at $140. In short, research of the situation indicates that these types of calls may be a reverse indicator.
Many people did not understand why many Japanese had much of their wealth in home safes; as opposed to banks, when the tsunami hit. With near zero interest rates and fees galore, many Americans have figured out that it is better to keep their money and valuables in a home safe. In fact, one San Diego safe dealer reports a 20-30% increase in sales in the last three to four years. Just imagine the need for good safes after a bank holiday.
Senate Unanimously Passes NDAA
Without exception, the US Senate voted to allow for the US Military to detain any American indefinitely without legal recourse. Most US Senators were actually gleeful at the passage of the bill. The only thing missing was a fire at the Reichstag because these senators have nothing to offer but fear. To add to the fear, there is a proposed online sales tax in the works for this bill as well. Happy Online shopping!
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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