Following the May consumer price index report noting that inflation has hit its worst point for the first time in over 40 years, many were looking to the stock market for some kind of hope heading into a troublesome summer. Alas, the Dow Jones Industrial Average did not provide such relief.
A new financial report revealed that the Average lost 690 points, or roughly 2.1 percent. In addition, the S&P 500 also dropped 2.5 percent, while the NASDAQ Composite fell 3.1 percent. Some experts believe this is due to the effects of inflation, and could lead to a potential recession in 2023.
The drop also affected a number of high-end companies. Microsoft dropped more than three percent; Apple lost 2.9 percent; and Netflix, gearing up for a summer of new content, lost nearly five percent following a recent downgrade by Goldman Sachs.
With us now to discuss the matter further is former Congressman Ron Paul, who’s been watching the economic scene since the start of inflation many month ago. We welcome him to the program.
- Is it any surprise to see the Dow and other stocks drop so much in the face of inflation?
- Inflation seems to be at its highest point, but consumer spending looks to be continuing on. Why do you think that is? Are people looking for investments or is it something else?
- Where do you see Dow and similar stocks going in the months ahead, as a potential recession looms in 2023?
- It’s interesting to see companies like Microsoft and Apple lose stock value, despite the popularity of its products. Is that just an effect coming from the Dow, or possibly something else?
- What do you think President Joe Biden and the government need to do in order to “right the ship” as it were with inflation and, in turn, the stock market? Or do you think anything can be done at this point?
- You’re a member of Birch Gold. Do you believe there’s anything people can invest in right now to help prepare for the future?
- Where can we learn more about Birch Gold Group, as well as gold IRA’s and other services?
- You can visit the website at http://www.birchgold.com.
About Dr. Ron Paul:
Dr. Ron Paul is a former Republican congressman from the 22nd congressional district of Texas. Ron Paul espoused strong conservative and Libertarian positions, including maintaining a fiscally responsible government. Before his involvement in the political arena, Dr. Paul was a physician. He is active as a writer and spokesperson for organizations representing his core beliefs, including honest money. He is currently conducting a media tour for Birch Gold Group.
CONTACT: To schedule an interview with Ron Paul, call Jerry McGlothlin of SpecialGuests.com at 919-437-0001 or by email at jerry@specialguests.com
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