Dec 12, 2022
Summary:
I invite Russell Stone on the show to talk about what’s really
happening with the employment numbers, because the data put out is
often manipulated—failing to account for several criteria. Although
it seems that jobs have gone up, Russell suggests that this could
be attributed to old jobs resurfacing rather than organic growth.
Furthermore, we discuss the underlying problem of the US dollar,
which is that we are backed by credit that is eventually going to
run out. For more insight and tips for how to prepare for the bumpy
ride ahead, be sure to tune in to this episode.
Highlights:
-You can’t always take what you’re given from government sources
because there is a lot of manipulation within these numbers
-No one talks about the birth to death ratio, which alters the job
numbers quite a bit
-The trend over the last three months has been stagnant
-Are these new jobs being created, or old jobs that people were
laid off from? Russell believes it might be the latter option
rather than organic growth
-Wages went up 5.1%, but the real inflation number is close to
15%
-They used to include fuel, food, energy, and housing when
calculating inflation, but they no longer account for these
factors.
-History tells us that we’re ready for a large correction
-There is no easy solution for this, and we should prepare
ourselves for a bottom
-The production value of oil is ten times greater than any other
commodity
-Countries are pulling away from purchasing our oil because of the
fear that we can’t support our dollar
-We have to change the way we interact globally, which is going to
come at the price of the dollar
-You can’t run the world on debt, and the governments can’t beat
the economy
-Russell tells his clients to put a percentage of their money into
silver
-Silver has the greatest upside over gold
-Stay away from the markets until they reach the bottom. Focus on
cash-flow investments right now, and the things that are bringing
you money
-Check the ratings of your banks and insurance companies to make
sure that you’re prepared for what’s to come
Useful Links:
Financial Survival Network
Scranton Financial Group