The Economy is Improving & Other Little Lies Washington Hopes You Believe [SPDR Gold Trust (ETF) (NYSEARCA:GLD), Newmont Mining Corp(NYSE:NEM), Barrick Gold Corporation (USA)(NYSE:ABX)]

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December 9, 2014 12:03pm NYSE:GLD

believeThe headllines were promising this week. Some 320,000 jobs have been added to the mix and the November figures for unemployment proclaim to be holding steady at the relatively respectable rate of 5.8%. Since most Americans are guilty of only scanning the headlines before going about their day, the news of more jobs and no new


spikes in the unemployment figures may have made them feel relieved, or maybe even hopeful that the sun was breaking through the clouds and America had finally dodged an economic bullet.

Two Sides to Every Story? Eh, Well Not So Much Anymore…

Unfortunately, these headlines, like most of the ones published now, are only part of the story. Journalists once took pride in presenting factual information about both sides of every issue. This helped to educate and inform readers, without attempting to push them toward one viewpoint or away from another.

Most journalism now, however, is based on opinion rather than facts and the major news networks are staffed with commentators and pundits who are paid to put a particular spin on the events of the day. With that in mind, let’s dig a bit deeper and look at a few recent headlines about important current issues affecting our economy and see if any important information might have been omitted.

The Economy is Looking Up…Really?

The previously mentioned jobs report was part of every major new network’s script in recent days and anyone reading the headlines might assume that America was finally getting back to work.

Unfortunately, these numbers do not take in the number of Americans who still cannot find suitable full-time employment and instead are forced to make ends meet by piece-mealing multiple part-time jobs. While technically employed, this part-time workforce does not recieve the benefits of full-time employment, and in many cases, these workers find themselves working more than forty hours each week in order to meet their basic income needs.

Called involuntary part-time workers, recent estimates from the Bureau of Labor Statistics place this number at some 7.3 million people. The Pollyanna media crowd likes to point out that this number is lower than it was in 2009, but what they fail to mention is that it is still nearly twice as large as the 4.4 million statistic for the same group back in 2007. Not exactly the picture of a robust and expanding economy, is it?

The Affordable Care Act: Good for America?

Making the news again this week is the increasingly unpopular Affordable Care Act. Hurried through Congress under a cloak of secrecy, the ACA was heralded as a way to ensure that every American would be able to afford quality health care. Famously, the president even promised that Americans that those who liked their current health care policies could keep them, if the ACA was passed.

Now, two years later, we see that not only are people losing their favored health insurance policies, but the affordability aspect that was so touted is also not proving to be true. As problems continue to mount, more and more people are coming to the conclusion that they may have been lied to and Jonathan Gruber, one of the architects of the Affordable care act, has now publicly admitted the same. Since the media worked hard to support passage of the ACA, they are having some difficulty spinning this new twist.

The Problem with Lies

The health of the economy and the benefits of Obamacare are not the only falsehoods being perpetuated on the American people. From our eroding relationships with once friendly countries around the world, to the damage we are feeling internally due to immigration, racial issues and the growing threat of terror plots on American soil, familys are becoming less secure, both physically and financially.

The mainstream media is not likely to reform and return to factual, informative journalism anytime soon, but more and more Americans are catching on and taking charge of searching for the truth. They read beyond the headlines, verify facts and then take appropriate action to protect both themselves and their families and keep them safe in volatile times.

The practice of investing in gold, silver and commodities is fast becoming one of the cornerstones used to build a strong base that can shelter families from economic distress, no matter the cause. As truths emerge and lies continue to crumble, America will likely face some difficult economic times, will your family be safe? Will they have what they need? Lay your solid foundation now, with gold.

By: ETF Daily News Staff

Related: SPDR Gold Trust (ETF) (NYSEARCA:GLD)


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