Telling numbers out of the US

Posted | 24/10/2013 / Views | 1309
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Gold and silver prices rose sharply Tuesday night on weaker than expected employment figures out of the US for September. The table below (courtesy of Andy Hoffman) illustrates clearly the erosion we continue to see in the US.  Its worth pointing out again that the 7.2% unemployment is the US Government’s U3 measure which excludes those who’ve effectively ‘given up’.  Their own U6 sits at 13.6% and the more realistic ShadowStats.com figure is 23.3%.  The declining payrolls is the telling number.

Telling numbers out of the US

Add in deteriorating house sales data and the certain effects of the shutdown in October numbers and it paints a bleak picture for the supposed recovery in the US.  The takeaway?  Don’t expect tapering of the money printing any time soon and more upwards support for gold and silver prices.