75% of Americans Fear We are Headed into A Recession

Ronald Reagan was the Time Man of the Year for 1980 who guided America out of it's last major recession.

With Consumer confidence at lows comparative to the 2009 recession numbers & hope in the future at lows not seen since 1980 3 out of 4 believe we will enter a recession in the next 12 months. These are the latest numbers in a Reuters/University of Michigan survey. Overall, the data indicate that a renewed downturn in consumer spending is as likely as not in the year ahead, Reuters survey director said Richard Curtin as reported on CNBC. Even without a downturn, consumer spending will not be strong enough to enable the rapid job growth that is needed to offset reduced long-term expectations. Curtin added in the report.

Does all of this echo the recession of 1980 & gold’s run to over $800? Are we repeating history? Yes & No. Yes the recession will come it is inevitable. No this doesn’t mean gold is going into an 80’s style bubble. Recessions cycle based on a number of reasons in the economy but mostly because it is the natural progression of economic life. Gold may or may not be in a bubble but the chief differences are the new demands on gold, the declining values of all fiat currencies & finally the lack of other viable safe-haven options.

Gold will continue to cycle higher for the near and long term. The questions you must answer is: am I financially prepared to to face the coming crisis? If the answer is no then look into adding to or starting a Tangible Asset Portfolio as financial insurance for your total net worth.

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