Does it even count for a “recovery” if no jobs have been created in the United States in the last 10 years? True statement, as hard as that might be to believe. We’re talking about net jobs, of course. Private sector employment levels have shrunk back to 1999 levels. While there are more jobs in restaurants and health care, manufacturing jobs have plummeted. Net result – no job growth.
The only real growth area is government. That should be a warning bell to us all. As long as the Fed continues to shovel billions of dollars at the economy in the form of “stimulus”, there will be an ever-growing cadre of regulators required to run the whole silly process. Now we even have a pay czar who’s job it is to control salaries in the industries the government has bailed out.
72 banks have failed so far this year. 34 million Americans are on food stamps. Incomes are falling. The average citizen pays 15% of his disposable income to debt service alone. With inflation poised to skyrocket and your chances of creating wealth on Wall Street next to nil, what’s the average investor to do?
Luckily, there is an investment strategy that does work, even under disturbed economic conditions. Real estate is the answer in general, specifically, income property or rentals. As Jason Hartman likes to remind us, humans will always strive to meet their basic needs and one is shelter. When you own the shelters (apartments, rental houses) you are in a very good financial position.
The Platinum Team
