I had a chance to talk to John Manfreda of Wall Street for Main Street earlier today. Wasting no time, John launched straight into the big story of falling income and terrible retail sales, and how that is affecting the U.S. economy. He says that it’s not the weather, regardless of what you hear from the mainstream media. Rather, he points out that the American people have already been squeezed dry paying for Obamacare and skyrocketing energy prices. Even the grocery stores are struggling as it gets harder and harder for the government to cook up bogus inflation numbers. He talks about new trends in housing construction, as fewer and fewer American families can afford the homes they really want. Next, John speaks about the auto-loan bubble, as people finance cars they really can’t afford to buy. In terms of investing, John says that energy is the one bright spot in the American economy, and that oil looks good… especially with all of the Geo-political tension flaring up across the globe. We wrap up with John’s thoughts on precious metals, and the ongoing manipulation of those markets. You’re not going to want to miss this installment.
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