While CNBC and the Wall Street media often talk about the incredible US recovery we're all supposedly witnessing, is that actually reflective of reality? Or do the economic numbers created by the #government distort the truth and what's actually going?
John Williams of Shadow Stats calculates that if we just used the same formula that the government used to use, before tweaking how it calculates the numbers, the unemployment rate for last December would be 20.8%! Which makes it interesting to think about how differently the entire globe would be acting and investing if that was more widely reported. And shows just how much the numbers the market looks at can alter investor perspectives and reactions.
Fortunately Dave Kranzler of Investment Research Dynamics was kind enough to join the show to separate fact from fiction, and expose some of the myths that are propagated to make the politicians look good. At your expense.
Dave Kranzler spent many years working in various Wall Street jobs. After business school, he primarily traded junk bonds for a large bank. Dave graduated from Oberlin College with majors in Economics and English and he also has an MBA from the University of Chicago, with a concentration in accounting and finance. Currently, he co-manages a precious metals and mining stock investment fund in Denver. He has nearly thirty years of experience in studying, researching, analyzing and investing in the financial markets. His daily articles can be found at his site, Investment Research Dynamics.