I am not financial scholar but I do read. Wealthy players are
. Not unusual but
curious. The stock market is doing well or at least better than the last few years. Could they be bailing? According to the author they fear a market
correction. So buy low, sell high makes sense but what are their indicators?
Then I read this
. The latest job numbers were really bad despite the gains on Wall Street.
But we all know Wall Street is no longer a true indicator of economic health.
Then I read this
. QE3 is a ‘GO’. I think Peter Schiff
can say it better
than I can. While I know Mr. Schiff is trying to sell books, what he
highlights is valid. Attempting to create fake value in real estate ***again*** will not work. I can see it doing no better the second time around.
Are there really that many Americans stupid enough to fall for the same shell game part deux? Please don’t answer that.
What got me concerned was what I gleaned
. China, all within
the same two weeks as all the information above, will no longer trade for oil in dollars. Yikes! Now to be honest there were a few countries out there
doing the same but nothing on this scale.
1. The Fed is cranking up the presses to buy more mortgage backed securities to the tune of $40 Billion/month. Who on Earth are they going to turn
around and sell them to?
2. China is dumping the dollar for oil. If you do not understand how the petrodollar work, suffice to say, it is the sole reason the value of the
dollar is high against other currencies in the world. Take that away and the prices at Wal-Mart shoot through the roof.
3. Those who make a killing dealing in money are getting out of dollar backed stocks. Gold is at an all time high as well as other commodities.
4. The job market sucks, in case no one was paying attention. For every person looking for a job, 4 have given up. On top of that, what is the quality
of the jobs out there? A job at Starbucks does not strengthen the American economic picture like a job at a manufacturing plant selling widgets
worldwide, even if they pay the same.
5. Oh, and an interesting nugget I just came
. In these same two weeks, Germany bought the New York Stock Exchange. I’ll wait to let that register.
So what does that mean to me? Well, a few things.
1. I am glad I have a job. I do not make much but me and my family are OK.
2. I am glad I have managed to save money over the years but I need to move it out of Treasuries. The purchasing value of that number on the page is
looking to head south big-time very soon. How can it not?
3. I am less hesitant to purchase worthwhile, tangible items. They have value in their use and are a better holder of value than the dollars used to
4. I am grateful my family supports and encourages my efforts to make us more independent. Whether it is growing things in the garden or making the
things for our home with our hands, it is great.
What do you plan to do?