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Media Spin Obscures The Need For Gold Coin Investment

Blind optimism has its place in a well-ordered life, but not when it comes to investing in gold coins. For that we are far better served by the cold hard truth.

The Wall Street Journal is not the best place to go for that. The Journal literally exudes unfounded optimism, and lately it feels like they are trying to hard to convince themselves that it is warranted.

“The U.S. grew slower during the first quarter than previously thought,” begins a recent article. “Continued weakness in the job market and elsewhere suggests the economy is struggling to gain traction … [GDP] grew in the January-to-March period at an annualized 1.9% pace, short of the 2.2% growth previously estimated.”

The paper failed to point out the role of the auto industry, however, which has done remarkably well as people are making purchases they have put off for several years. But the average automobile on the roads today is 10.8 years old according the market analysts at Polk, so car sales have little relevance to the overall economic condition.

When you subtract automobile sales, the GDP figures look a lot sadder.

“This means the economy had less momentum going into the second quarter,” the article continues. However, momentum, even when preceded by the word “less,” implies some sort of motion. We may be slowing down, but we are still moving forward.

“[Less momentum] comes as fears are growing that a larger global slowdown is under way that could eventually weigh on domestic growth.” From that we may infer that our economy is growing despite the “global slowdown,” plenty of reason to be optimistic.

In fairness, the Wall Street Journal cites J.P. Morgan Chase & Co. economist Michael Feroli. “You’re looking at a more uncertain economic outlook,” says Feroli. “Exports had been a big source of support so far. That is very likely not to be the case going forward.”

Out of context that’s at least a warning, even though “more uncertain” puts it very mildly. On the heels of the comment about the global slowdown, however, our attention is drawn away from domestic issues. We are left with a hint that we’re OK and it’s the rest of the world that is causing all the grief.

Mainstream media have become more concerned with spinning the news than reporting the facts. It could be because we are presumed incapable of deciding for ourselves what the facts mean. Or perhaps the media are bending to pressure to hide the truth. Whatever the motive, it is a great disservice.

It is vital to our well being to be fully aware of the reality of current economic conditions, yet the root causes of the problems we face are not being addressed in any productive manner.

Times cry out for decisive action to safeguard our wealth. We know that gold coin investment is arguably the best way to do that, and we deserve to be told the full truth about the threat.

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