from King World News
The US dollar continues to tumble sending the price of gold back above $2,000, but here is the really big problem.
BIG PROBLEM: Printing Our Way To Prosperity
August 17 (King World News) – Peter Boockvar: Randy Forsyth in the weekend Barron’s quoted numbers from Stephanie Pomboy of Macromavens in quantifying those government checks. “A $680 billion decline in wages and salaries and a $174 billion drop in other income was more than offset by $2.24 Trillion in transfer payments…for a net income gain of $1.386 Trillion.” This helps to explain why consumer spending is higher in the middle of a pandemic than when it was when the unemployment rate was at 3.5% and why without it will have a profound economic impact if not refilled to some extent. Which I’m sure it will…