Turk – The Fed Is Playing An Extraordinarily Dangerous Game
November 12, 2012
Today James Turk spoke with King World News about an extraordinarily dangerous game the Fed is now playing and how it will impact key markets, including gold and silver. But first, here is what Turk had to say about the ongoing crisis in the US: “On Friday in the United States, the Department of Agriculture released its report showing the number of people receiving food stamps in August. The total is 47.1 million people, which is a new record high, Eric, but here is what I believe to be a staggering comparison. The number of people receiving food stamps increased in just that one month by over 420,000, while only 96,000 new jobs were created in August.”
“So 4.3-times more people started receiving food stamps in August than got jobs. Even the miracle 175,000 monthly increase in jobs that was reported just before the election pales in comparison to the number of new people receiving food stamps in August.
What this shows me, Eric, is that despite all of the hype coming from the politicians and central planners, the US economy continues to deteriorate rapidly….