Loading ...I think we are dealing with a five day dollar bounce. Instead of a trade war, it’s turning into a currency war, as per that global banker president’s concern. A race to the bottom? Gold and Silver is the end game.
Even if the massive built up debts go bad and a huge global deflation takes hold, gold is still the end game. A deflation would expose fiscal and monetary incompetence, combined with global multinational corporations greed and influence.
Basically over the past 60 years, they won, and there’s not much left to win. In their small minds, they think higher asset prices will will increase the money supply and spending and bring on inflation.
Unfortunately, the increased psychological “funds” are not going where needed the most. The entry level high school graduate just starting out in life today NEEDS at least $26/hr to leave the nest.
The average wage was reported at $26/hr. Which in fact has the same buying power as $1.40 minimum wage of 1967, when entry level kids could buy a new corvette or Cadillac if they wanted to.
The “skimpy” national average wage scale is bringing down the entire USA. And in turn probably the entire global economy. That’s why that Banker buffoon was on TV this morning talking about his concerns.
Eventually, TPTB will have to just GIVE money to anybody that needs some to keep things going. Loans are not an option anymore, unless TPTB don’y Care if not paid back, and actually tells the borrowers.
By the way, there’s a Steven Moore on TV yesterday saying primary problem is wages are too low. He consults with Trump often he said. But him and even Trump probably don’t know about the true inflation adjusted minimum wage.
To abruptly change it is not an option at this point. The cold turkey effect would kill the “patient” US economy. The artificially low wages created millions of old manufacturing replacement jobs. For example if minimum was $3/hr millions more jobs would be created, but not do the country or US gov’t any good.
This is all simple crap, but unmentionable on TV.