I’ve been collecting headlines in recent weeks.
They’ve become plot points in a dot-to-dot drawing of the American economic landscape.
And the picture that’s forming is one of inflation.
I know you’ve heard that word a lot in recent years as the Federal Reserve has flooded the financial system with vats of money — and yet nothing resembling inflation has shown its face.
That’s now beginning to change. And it’s a reason you should initiate — or continue adding to — a position in gold and silver.
Let’s go to the headlines:
(The story of structural shifts in the U.S. labor market that have economists now fearing a near-permanently elevated level of part-time workers who cannot, and likely will not, find full-time employment.)
(One in three adults Americans — 33% of us — have not a dime of emergency savings to fall back on.)
(A massive 79% of us thinks that it’s more likely for Americans to fall into a lower economic class from middle class than it is for a person in the lower class to rise up into the middle class.)
(California lawmakers have legislated another pay raise for minimum wage workers, this time to $13 an hour by 2017, or $27,000 a year to flip hamburgers or run a cash register and such.)
(May inflation rose 0.4%, an annualized rate of 4.8%. It was the largest increase since February 2013.)
Those are not the statistics of a robust economy that is financially sound at its core.
They are statistics that speak explicitly of struggle and post-empire decline.
At the top, the U.S. jobs market is not creating much opportunity. As I’ve written recently, the jobs data going back to the post-crisis peak in 2007 show that our country is replacing high-paying jobs with low-paying menial labor. Sure, the Obama economy is giving us 200,000-plus jobs a month, but they’re largely jobs with no future and limited income.
Which explains why America faces a structural labor-market shift that has created so many unhappy part-timers, and why so many Americans teeter on the edge of ruin.
They have few meaningful job opportunities to pursue … and the jobs that do exist don’t pay enough to live a middle-class life, or to save much for tomorrow.