by Peter Schiff
Schiff Sovereign
According to this morning’s dismal publication from the US Bureau of Economic Analysis, US GDP growth crashed to just 1.6%, while inflation keeps rising at a 3.4% rate.
And ‘core’ inflation, which excludes food and energy, was up even higher at 3.7%!
All of these numbers are much worse than expected… and frankly Americans should be outraged.
Think about it: the United States is home to the world’s largest and most successful companies, many of which are on the bleeding edge of technology and productivity. America’s labor market is filled with talented workers. The country is teeming with abundant natural resources. Capital markets are the deepest and most attractive in the world.