Crumbs, Continued: Pelosi Belittles Strong US Economy With Lies

The U.S. economy has come roaring back under President Trump. That has Nancy Pelosi and fellow Democrats losing their minds.

In a press conference last Thursday, June 7, Pelosi was asked about the May unemployment figure of 3.8%, the lowest it has been in 18 years. A reporter asked her if she thought the low lever was a good thing.

Pelosi's odd response:

"This has happened before," she said, "The people say, 'Oh my goodness... the unemployment rate is down. Why isn't my purchasing power increasing?'"

"Because our economy will never fully reach its possibilities unless we increase the consumer confidence," she explained.

"This is one unusual time, and I follow it closely, where the unemployment rate is down but the dependence on subsidies -- whether it's food insecurity, housing subsidies and the rest -- has not gone down because of the wage stagnation."

"Unless we have a very significant increase in wages and bigger paychecks, we are going to increase the frustration of America's families because they'll be saying, 'Hip hip hooray, unemployment is down. What does that mean to me in my life? I need a bigger paycheck.' That's the apprehension American families have had for a while," she said. (Transcript via Real Clear Politics)

Pelosi's answer is, frankly, disconnected from reality. Has everybody's financial situation improved under Trump? Of course not, but Pelosi contradicts herself with that answer.

Expert Says Gold, Silver NOT Best Hedges Against US Dollar Fall

Don't get carried away with buying a lot of gold or silver, says foreign exchange expert Adam Kritzer (photo) of Forex Blog. Despite the barage of ads we've all heard that urge us to buy gold or silver before the US Dollar and the sky both fall, gold and silver are overrated in Kritzer's opinion. "Many gold investors insist they are buying gold as a proxy for shorting the dollar," Kritzer wrote on May 10. "Commentary on gold prices is full of apocalyptic warnings about the current financial system and criticism of fiat currencies, which are backed by nothing except for good faith. They argue that buying gold is the best (or even the only) hedge against the eventual collapse of the dollar." [Emphasis added] Kritzer isn't buying into any of the metals hype. "Unfortunately, I don’t think this argument holds up to close scrutiny," he says, and present some fascinating graphs of gold and silver price histories. Kritzer says gold and silver prices "have risen much faster over the last year (and decade, for that matter) than even the strongest currencies." See his graphs. More intriguingly, he shows that the price of gold has been going up "faster than the dollar is falling." That is, one must admit, disturbing. Kritzer is clearly unsettled by all of this seemingly out-of-whack activity by gold and silver investors. In summary, Kritzer says that - in his opinion - the relationship of gold and silver to the state of the US Dollar is out of sync with other currencies. That's my paraphrasing, by the way. To quote him directly: "My only wish is that investors will stop pretending that it has anything to do with the dollar." More About Adam Kritzer: Interview With Forex Blogger Adam Kritzer - Counting Pips.com DailyForex Blog Reviews: Forex Blog - DailyForex.com

Trade on Four Banned Items Might Resume

Commodity Online reports some good news out of Mumbai, India. Life goes on, life goes on... MUMBAI: The major commodity bourses in India, Multi-Commodity Exchange of India and National Commodity and Derivatives Exchange Ltd (NCDEX) is likely to resume trading soon in natural rubber, soybean oil, potatoes and chickpeas following the lifting of suspension of futures in these commodities, officials of Finance Ministry said. Full Story...