The Department of Commerce announced its advance estimate for a second quarter real gross domestic product (GDP) growth was negative 0.9%, the second consecutive quarter of negative growth, indicating the U.S. economy is in recession. Real consumption grew a mere 1.0%, as families' purchasing power was eroded by higher prices.
The GDP price index, which measures changes in the price of goods and services produced in the U.S., reached an astounding 8.7%, the highest in 41 years. Real investments, which is a leading indicator of the business cycle, collapsed in the second quarter, falling 13.5%, signaling a recovery is not likely imminent, in fact third quarter figures due out at the end of October will show further damage to the economy under Biden's watch.
Over the last 18 months, Congress, Biden, and the Federal Reserve set our nation up for disaster trying to appease the progressives' green deal obsession at any costs. The current economic situation is the consequence of profligate federal spending financed by printing money. Now, instead of acknowledging responsibility for their failed policies, the Biden administration chooses to play word games, just like they did with inflation. The latest of their verbal gymnastics (lies to you and me) is an attempt to redefine a "recession" and deny the reality of the current moment, "News flash for Joe Biden, you can't change reality by arguing over definitions."
It adds insult to injury for millions of American families when the Biden administration engages in this "malarkey". Make no mistake — while Biden and his minions in the White House and Mainstream media debate the meaning of 'recession,' working and middle-class Americans have been living it through higher gas and food prices and other spending increases for months, the cost of everyday staples have increased tremendously, the price of eggs went up 33.1%, meat 8.2%, gas 59.9% and air travel 34.1% to name just a few.
The average American family has lost $4,200 since Biden took office; under the Trump administration the average American's earnings had increased by $4,000.
Add to this mixture of incompetence and malfeasance is the war against MAGA supporting Americans, this was recently exacerbated by Biden's weaponizing the IRS to go after working and middle class Americans with the recruitment of a massive 87,000 new IRS agents. Click here to find out how to stop it.
As a result, in times of either a crisis, inflation or a recession, many Americans turn to Gold to protect their wealth and retirement. Between 2008 and 2012 during the last recession where a lot of us had their 401k's wiped out, gold surged by 101.1% in the Producer Price Index (PPI). Gold prices can act as an indicator of the health the economy, after rising 2.6 % in 2008, the PPI for gold increased 12.8% in 2009, as the U.S Federal Reserve ramped up its effort of quantitative (printing money) easing to inject liquidity into the economy lowered the value of the dollar, often seen as one of the main alternatives to gold. As a result of the economic contraction, hard working Americans facing a weaker dollar searched for other ways to maintain their total assets and retirement funds, money poured into gold, further enhancing its value in the weak economic environment.
From September 2010 to September 2011, gold prices jumped 50.6% with gold reaching an all-time high in late August of 2011, we are seeing the same trend occurring now, many savvy Americans are deserting the stock market and other investment vehicles for the safe harbor of gold, whether that's storing it at home privately, or in a IRA with either home storage or in a depository with an IRA custodian.
If you are already in the process of buying gold/silver that's great news and congratulations for your foresight but make sure you are buying your precious metals at the best prices get a free quote from a reputable dealer before you make your purchase, most upstanding gold dealers will supply you with a quote to consider, those that don't you would be advised against in dealing with.
DO NOT BUY YOUR GOLD OR SILVER UNTIL YOU HAVE TALKED TO US , YOU OWE IT TO YOURSELF AND YOUR FAMILY TO GET THE BEST PRICES
We’ll answer any questions you have and walk you through the process. And remember, if you have a competitor’s quote, we’ll beat it or we’ll give you $1,000 worth of FREE SILVER COINS!
CALL (877) 399-7222
for more information about this offer.
If you are uncertain of what to do and how to protect your hard earned retirement funds we would recommend you get all the info for free, click here for all the facts about gold investments and IRA's before you commit.
Liberty & prosperity
Joe Pannu
Founder and CEO
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