Money is Losing Value with Governments creating Inflation and Gold is Going Up. The price of Gold is Rising.
Well Stated , Peter Schiff. Take care everybody.
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October Retail Sales and prices of goods imported to the USA dropped by the most on record pointing to a rising danger of Deflation. Deflation is caused by a collapse in demand and is associated with Recession and in this case it certainly appears to be a long term economic depression. Money & Products : Supply & Demand. Deflation is the opposite of Inflation meaning a decrease in the general price level.
The decline in sales was led by a huge drop in Car purchases , but sales of all types of department store products from Furniture , Electronics , Clothing, Sporting Goods and more were all hard hit. Ask Chrysler , ask Circuit City they’re all going bankrupt.
Restaurants & Grocery Stores were about the only retail area that showed a gain. You Gotta Eat no matter the Financial Carnage going on. Shoppers searching for discounts on groceries gave sales a lift at Wal-Mart. Wal-Mart may be the only Large Retailer to hold its own this Holiday Season.
Oil Prices have Fallen 60% during the last four months after reaching $148 in July. Light Sweet Crude for December delivery fell to $57 a barrel on the New York Mercantile Exchange.
The Dow Closed Friday at 8497. S&P 500 at 873. Nasdaq at 1517. “Cash is King” – Jim Rogers
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