To say we live in interesting times is an understatement. With US politicians and mainstream economists refusing to give up their blind optimism about the 'hope and change' that is coming in the economy, the economy continues its decent into the abyss. The below video about the '99ers'- those millions of Americans whose unemployment checks will soon dry up after the fast approaching 99th week - is truly eye opening. The people in the video are a representation of the great "American Dream" that Alan Greenspan, the Fed in general, and past US administrations have given the American people. It is a result of flawed economic theory and a lack of responsibility on the part of policy makers, whose sole purpose is to get reelected and live for the moment by keeping the party going for as long as it can (ie. kicking the debt can down the road).
Link to 60 minutes video- The 99ers
Unemployment is currently closer to 20%, far higher than the government's 10% figure that they would rather have you believe. The same goes for the rate of inflation. In spite of helicopter Ben Bernanke's repeatedly using the "low inflation" as an excuse to stimulate and print trillions in more money, the cost of everything from food to health insurance to transportation costs continues to rise- all this in the midst of a collapsing economy, ever rising unemployment, and stagnant wages.
This is clearly a depression. And gold- the only hedge against government insanity and mismanagement- continues to be shunned by the general public and financial managers. The wall street-government complex has so far been successful in brainwashing the people into believing a bottom in the economy is just around the corner. But the smart money currently moving into gold tells a different story.
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