With Economic Conditions Continuing To Deteriorate, This Is A Terrifying Statistic
KingWorldNews.com
June 07, 2016
With economic conditions continuing to deteriorate, this is a terrifying statistic.
John Embry: “Eric, things certainly get more interesting by the day, although you would never know it by the action of the markets because they almost seem to be on autopilot…
John Embry continues: “Last Friday’s jobs number, which shocked many mainstream observers, was one of the first that came somewhat close to reflecting reality. However, I believe it was still overstated because of the dubious nature of the birth/death calculation of new jobs and small businesses, and the requisite seasonal adjustment to further distort the truth.
In any case, last Friday we had a one day spike in precious metals prices as a result of the jobs release, and some initial pressure on the Dow. But both were quickly addressed by the usual suspects, with gold come under renewed selling pressure as the Dow reversed and moved higher. The recent gold action has been particularly bogus in the face of a weaker dollar.
Another factor which I haven’t been giving sufficient attention to is the upcoming presidential election in the United States. Those behind the curtain very much want the Democratic candidate to be elected, rather than the upstart, Trump. Thus the public has to be convinced that the current Democratic administration is doing a fine job and that the economy is in fine shape, even though neither is remotely true.
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