My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
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Welcome back to the SilverTowne Vault Cast. I don’t know about you but I can’t believe that it is already June. The first half of this year has flown by. I am however happy that our economy is still hanging on, even if it’s by a tread. I honestly had doubts that we would make it this far. Today we are going to be covering some collapse news and talk about why it is so important to own something of real value, but before I get into all that, lets have a look at today’s precious metals prices.
Gold - $1395.78 Up $8.16
Silver - $22.63 Up $.40
Platinum - $1469.70 Up $16.20
Palladium - $753.00 up $5.00
40 Statistics About The Fall Of The U.S. Economy That Are Almost Too Crazy To Believe
If you know someone that actually believes that the U.S. economy is in good shape, just show them the statistics in this article. When you step back and look at the long-term trends, it is undeniable what is happening to us. We are in the midst of a horrifying economic decline that is the result of decades of very bad decisions.
During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.
If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.
Back in 1970, the total amount of debt in the United States (government debt + business debt + consumer debt, etc.) was less than 2 trillion dollars. Today it is over 56 trillion dollars...
According to The Economist, the United States was the best place in the world to be born into back in 1988. Today, the United States is only tied for 16th place.
Back in 1985, our trade deficit with China was approximately 6million dollars (million with a little "m") for the entire year. In 2012, our trade deficit with China was 315 billion dollars. That was the largest trade deficit that one nation has had with another nation in the history of the world.
Back in 1950, more than 80 percent of all men in the United States had jobs. Today, less than 65 percent of all men in the United States have jobs.
Small business is rapidly dying in America. At this point, only about 7 percent of all non-farm workers in the United States are self-employed. That is an all-time record low.
According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."
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Bridge Collapse Tears at a Town’s Economy
Interstate 5, before last week’s bridge collapse over the Skagit River on the south end of town, was the great pumping arterial source of economic life here. It brought Canadians, shopping for furniture or clothes. It brought day-tripping outlet mall lovers from Seattle. Through an embrace of retailing begun as a town plan in the 1980s, Burlington, population 8,500, grew to have the highest level of retail sales per capita of any city in the state.
he malls are still open, and the cars and trucks creeping through town day and night along the detour routes are testament that the highway corridor, though temporarily crippled, is still in use. But now the people are not coming to buy, and they are mostly not stopping. The message by the state to avoid the area to help ease congestion, and the news images of stalled traffic and twisted steel, have created a secondary collapse, business and political leaders here said, in a community that was poised this year to finally break through, back to prerecession health.
Store owners said that sales were down 50 percent to 80 percent. Work hours have been cut. Sales tax collections have plummeted even as city expenses for things like police overtime — patrolling the detour routes and keeping curious “looky-loos,” as Mr. Harrison called them, away from the bridge site — have soared. Read More...
2013 Economic Collapse In Process
When Hyperinflation begins…that’s when most folks will start to pay attention. I think we’ll be seeing huge chaotic signals in the markets by the end of 2013 (Q3 to Q4) but we might not see the actual hyperinflation begin until next year…
It’s conventional wisdom that the U.S. economy is steadily recovering from the recession, even if progress is slow and disappointing. But there’s also a widespread sense that long-term economic prospects are deteriorating all around the world. Young people can’t find jobs. Budgets keep being cut in both the public and the private sectors. And the projected increase in debt over the next decade figures to be a huge burden for the most highly developed economies. Political systems seem unable to cope with problems that ought to be fairly easy to solve, or at least contain. As the recent crisis in Cyprus demonstrates, a minor dislocation can become a threat to the entire global financial system overnight.
The U.S. is deeply troubled too. Deficits remain enormous, and the checks and balances of the political system have turned into a logjam. In a new book, David Stockman, President Ronald Reagan’s budget director, chronicles the relentless downward spiral of America’s political and financial systems. He concludes: “The future is bleak … When the latest bubble pops, there will be nothing to stop the collapse.”
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One of the most common ways to invest in silver is with silver ingot . They are affordable, portable and easy to stack and store. Popular SilverTowne Trademark Silver Bars, featuring a classic prospector and his donkey, are guaranteed .999 fine silver and available in 1, 5 and 10 ounce sizes and SilverTowne is currently offering free shipping for these ingots. Contact Silvertowne today.
[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
