Monday, August 7, 2017
With the Dow at 22,000, solid job gains, confidence high and and growth jumping to 2.6 percent in the last quarter under President Trump, the economy clearly has a new bounce in its step.
Maybe. Listen to Peter Schiff on Youtube and see if you still think so. It had me seriously wondering if I should sell my S&P index funds to buy gold. Schiff says the numbers measuring employment are crap, which is dreadfully plausible. For instance, if a guy holds down two part time jobs as a cook even though he's an out-of-work engineer, that counts as *two* jobs. So if he get fired and has to take two part time jobs, that's a gain for the economy. That's a change from when I was in guvment. Lots of other tweeks like this. Peter is a font of this information. The numbers on debt from 1980 till now are beyond appalling. The market's up, but for how long?