US GDP reportedly grew by 1.5% in the second quarter. Cause for celebration? Not necessarily.

The figure comes from the government, and whether it accurately reflects economic reality is open to debate. Personally, I have my doubts.

Economists generally regard annual GDP growth of 2% to 3% as healthy. At 1.5%, even the official number suggests only modest expansion.

The government also reported inflation, as measured by the GDP price index, at an annualized rate of 5.7%. While these statistics are widely accepted, they often bear little resemblance to the increases that consumers experience in everyday living costs. Many households would argue that the true rise in their cost of living has been considerably higher.

The reported 1.5% GDP growth is already adjusted for the official inflation measure. However, if the official inflation statistics understate actual price increases, as many critics believe, then real economic growth is almost certainly weaker than the headline figure suggests. It is entirely possible that the economy is stagnating or even contracting in real purchasing-power terms.

Another point worth considering is the composition of GDP. According to Greg Mannarino, government spending now accounts for approximately 37.9% of total US GDP. Government expenditure undoubtedly contributes to economic activity, but debt-financed spending does not necessarily create lasting wealth or improve productivity. An economy increasingly dependent on government spending may look healthier in the statistics than it feels to businesses and households.

The purchasing power of the US dollar continues its long-term decline. Although the dollar’s exchange rate fluctuates against other fiat currencies, decades of monetary and credit expansion have steadily eroded what each dollar can actually buy.

There are, however, some encouraging signs. Two weeks ago, we drove through the Florida Keys and were pleasantly surprised by the number of “Help Wanted” signs displayed by restaurants and retail businesses. A friend in Utah reports seeing much the same. These may not be executive positions, but they represent employment opportunities, and if this pattern is being repeated across the country, it is certainly welcome news.

My concern is that several headwinds have yet to work their way fully through the economy. Tariffs, rising energy costs, and shortages of key commodities could place renewed upward pressure on prices. At the same time, the enormous federal debt burden continues to grow, compounded by the costs associated with the conflicts in Ukraine and the Middle East. Financing that debt may become increasingly difficult if investors demand higher interest rates or become less willing to purchase US Treasury securities.

The economy therefore presents a mixed picture. Employment appears resilient in some areas, yet weak productivity, persistent inflation, mounting debt, and growing fiscal pressures suggest that the underlying fundamentals remain fragile. Whether today’s modest optimism proves justified or merely temporary is something only time will reveal.

Statistics may describe the economy, but they do not define reality. In the end, it is not government reports that determine prosperity; it is the purchasing power, opportunities, and standard of living experienced by ordinary people.

History has shown that economies cannot borrow, print, and spend their way to lasting prosperity. Eventually, arithmetic always prevails.

PLATINUM

BUY: On the Daily chart (06 July 2026). Still holding up.

URANIUM

BUY (03 August 2026) URA.

BITCOIN AND GOLD

Gold outperforms Bitcoin  (24 July 2026).  15.28 One ounce gold coins buys one bitcoin, this was over 41 ounces August 2025.

ETHUSD: BUY: ( 11 June 2026)

BTCUSD: SELL: 26 July 2026.  NASDAQ (Cyan). Looking like an imminent reversal to BUY.

GOLD AND SILVER STOCKS

22 July 2026 Gold stocks outperform gold. An excellent indicator for the gold price to rise as well.

Silver stocks outperform silver (03 August 2026).

GOLD AND SILVER

Silver to Gold Ratio

Silver outperforming Gold. (22 July 2026)  Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 68.44:1.

GOLD TO USD

Gold outperforms USD, (04  July 2026).

Copper (BUY 22 July  2026)

GOLD AND SILVER CHARTS

Gold’s low of the week was $4,012.00 and the high was $4,304.00 now trading at around $4,237.00.

• Gold Monthly:  is a SELL. (25 March 2026). Looking more positive. Still negative signals.

• Gold Weekly:  (SELL 19 March 2026)  Initial signs of recovery.

• Gold Daily: (BUY 6 July 2026).  Interestingly, gold daily is holding its buy signal.

The low for Silver this week was $56.55 and the high $62.90 trading around $61.15 at present. 

• Silver Monthly: (SELL: 20260430.  (Buy $24.00 March 2024 to sell May 2026 $73.13 = 204% Gain in 2 years 2 months). A couple of indicators pointing up. No buy yet.

• Silver Weekly: (SELL: 09 February 2026). Negative indicators flattening, a few pointing upwards.

• Silver Daily: BUY (22 July 2026). 

Clients who request an introduction to an independent precious metals supplier may contact our preferred partners by clicking here.

Any purchase or sale is conducted solely between the client and the selected supplier.

A video by Mike Adams on the Goldbacks. Well worth a look. watch here

On the Stockcharts.com charts above, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only

An interview with Josh, owner of Scottsdale Mint: watch here

Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured location outside of your jurisdiction.

If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview

This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions, I recommend that you consult with your professional financial advisor.