Talk about a rugged economy: Even Wal-Mart missed the expectations of analysts and cut its profit outlook for the rest of the year, notes economist, columnist, radio host and international speaker Jerry Robinson in his "Follow the Money Weekly" program this week.
He says the retail giant's executives are blaming higher taxes and the slow economy for the poor quarterly results.
Robinson also talks about the slide in the Dow Jones and the corresponding boost in precious metals.
Gold boasted a gain of 5 percent over the week while silver was up 14 percent – its "biggest weekly gain in nearly five years."
Also subject of this week's podcast is a discussion on how foreign investors have dumped more than $40 billion in long-term treasuries and how the summer of 2013 has been worse even than 2008's financial meltdown for capital outflows.
In the precious metals update, adviser Tom Cloud explains the recent surge in prices, and Jay Peroni offers the investing ideas of the week.
Then Robinson interviews John Rubino on the economy, the dollar and why the Federal Reserve is buying up bonds every month.
While America endures the worst economic conditions since the Great Depression, with no end in sight, it's not too late for Americans to insulate themselves and their families from its ravages, says author Jerry Robinson, whose book "Bankruptcy of our Nation" is already helping many do just that.
Podcast is 59:35.
Jerry Robinson is an economist, published author, columnist, radio talk show host, and international conference speaker. Robinson has been quoted as an economic authority by USA Today, FoxNews and many other news agencies. His columns have appeared regularly in numerous print and web publications, including WND. In addition, Robinson is also the editor-in-chief of the popular economic newsletter, "Follow the Money Quarterly."