As Gold & Silver Continue To Surge, It Turns Out This Is One Hell Of A Crisis

As Gold & Silver Continue To Surge, It Turns Out This Is One Hell Of A Crisis from King World News

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As the prices of gold and silver continue to surge, it turns out this is one hell of a crisis.

This Is How Bad The Situation Really Is
June 1 (King World News) –
Jeff Snider at Alhambra Partners:  Another 2.1 million Americans have filed this week with their state governments in order to determine their eligibility for unemployment insurance. That brings the 10-week disaster total for these initial jobless claims to an enormous 40.8 million. How did it get to be so many, and why, as states are opening back up, is it continuing in the millions all the way through the month of May?

This is not simply a case of disease and the panicked government response to really, really bad virus models. It is almost certainly, as I’ve written throughout the pandemic, the combination of three big errors all drawn from what’s always called objective science but in reality are dangerously simplified subjective opinions based on very little useful knowledge. 

The epidemiology estimates aren’t even the biggest of the three mistakes. 

Those belong to econometrics, as usual, which told politicians worldwide that the global economy in general, and various domestic economies specifically, were in pretty good shape to begin this thing. Trade wars were receding and central banks had responded in force to what the models all treated as an otherwise rapidly fading minor nuisance (in actuality a globally synchronized downturn). 

With central banks and federal governments now throwing “stimulus” into overdrive, the perceived effectiveness of which being their third error, the prior belief in the strong economy starting point absolutely convinced officials they could institute these devastating shutdowns with manageable economic disruption. 

Only, these negatives continue to seriously pile up week after week. Even the Fed Chairman realizes for his actual contributions (very little) he’s put everyone in a very tough spot. Therefore, the really obvious and truly shameful fit of outright lying.

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King World News

Interviews with market experts from around the world with a focus on precious metals.