The confidence that Americans have in our nation is slipping by the day.
This may not come as a surprise when you take into consideration factors such as the government’s spending spree and what seems to be the never-ending passing of trillion-dollar(s) bills, the rampant inflation eroding the value of the dollar, and the recent events in the Middle East.
And then, unfortunately, we still have the lingering COVID-19 problem with the Delta variant.
Everyone was hoping that by summertime this year things would return to normal.
But they haven’t. We’re nearing the fall and winter season and the fear of more shutdowns and what that means for the economy continues.
A new survey recently published by Gallup reported that 60% of respondents think that the economy is worsening, while 37% feel that it is improving.
In July, these numbers read 54% versus 41% with an increase in the belief that we are worsening economically in just a month’s time.
Parents aren’t too hopeful for their children’s financial future either.
The Pew Research Center surveyed that almost 70% of American parents believe their children will be worse off financially than they are.
71% of Americans view the current national economic situation as bad.
The Gallup Economic Confidence Index, which summarizes American’s views of the economy and is measured on a scale of -100 to +100 sat at +41 in February of 2020 right before things went south for the US and the entire world.
The gauge has since then fallen to -12.
Let’s take into consideration that during the midst of the pandemic, this number reached a low of -33.
Yes, still in the negative.
While these surveys are specific to the sentiment of the American people, similar attitudes from other countries and their deteriorating confidence in their economy are something we have in common.
Let’s look at Germany as an example.
Germany is hedging against rising inflation by loading up on gold.
In a Bloomberg report, the country’s first-half demand for bars and coins increased by 35% from the previous six months, compared with 20% in the rest of the world, according to data by the World Gold Council.
German gold dealers note that with the inflation risk picking up, the outlook for precious metals is very positive.
Gold sales are up 25% this year compared to 2020, which was undoubtedly already a strong year for the metal when it broke all-time high price levels.
World Gold Council analysts report that gold stands apart for its historically benefited characteristics, here are just a few:
- It is a proven store of value
- It is highly liquid
- It has lower volatility
How confident are you in the state of our economy? Do you believe things are getting better or worse?
Call American Hartford Gold today at 800-462-0071 and let us know.
If you would like to learn more, get your FREE Gold and Silver Investment Guide and see why individuals are choosing precious metals to protect their wealth.