This Week's Touchpoint
Weekly Touchpoint: Financial Difficulty Prompting Suicide Wave
Posted By | November 21, 2018
Savings Protection Needed Now More Than Ever
If you look closely, you’ll find plenty of numbers that reveal the economy is not all it’s cracked up to be. One jarring statistic is the fact that nearly half of America cannot afford the basics of life, such as food and rent. Perhaps one of the most telling and unfortunate facts, however, is the soaring rate at which working-age middle-class Americans have been killing themselves.
- A sobering indicator that all is not as it seems with the supposedly “robust” U.S. economy is data from the Centers for Disease Control and Prevention suggesting financial difficulty is prompting a wave of suicides. According to the CDC, the suicide rate for U.S. middle-class working-age folks jumped a stunning 34% from 2000 to 2016. Alt-financial website ZeroHedge declares this is more proof of the “catastrophic damage” done economically to the American middle class over the past few decades. If this continues, are you positioned to withstand the ever-worsening financial climate?
- Former Treasury Secretary Larry Summers believes there’s a 50-50 chance the U.S. will go through another recession within the next two years, if not sooner. In a recent interview with CNBC, Summers said a significant “slowdown” occurring within that timeframe is a “near certainty” and that turmoil in financial markets, geopolitical upheaval and higher interest rates are likely to be the catalysts.
- Goldman Sachs’ proprietary bear market prediction tool, which gives weight to several factors, including unemployment rate, manufacturing data and core inflation, is now at 73%, its highest level in 50 years. Additionally, Goldman is saying that on the way to the bear market, which they think could still be a year away, the stock market will return 0%. Investopedia has more details.
- Market volatility has returned in a big way, and now mainstream financial publications are talking up gold. Recently, Forbes recounted for readers the stellar numbers put in by gold during the last recession and suggested it will again serve investors well in any coming economic collapse. For more on Forbes’ pro-gold thoughts and a look at the metal that did even better than gold in the Great Recession, read Augusta’s latest blog article here.
We know by now that many citizens are struggling just to get by after the Great Recession. As it turns out, too many are losing the battle for literal survival. It’s one more sign America’s financial future is not nearly as promising as it once was. How will you negotiate such a precarious future? One way is to focus on investing for protection as much as for growth. To learn about physical gold and silver’s potential to be your allies in that effort, call Augusta Precious Metals today at 855-242-4121 or visit Augustapreciousmetals.com.
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