bclemms
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The dollar is continuing its hard slide and gold is reaping the benefits. Of course, a weak dollar and strong gold usually means higher oil prices.
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Someone mentioned to me that the price of oil in Euros has not gone up significantly over the past 5 years. If this is true that makes things pretty interesting. It would not be because of less supply for demand causing price hikes or greedy oil men, its our own dollar flat-lining.
Alright Brandon, and our other fellow economists in here, help us out a little.
What is a man like me to do in this situation? First, some background: I have been saving for quite some years in the military (actually, almost the entire time), have some mutual funds, saving in the TSP program for many years as well. I am already set for me and my misses if I retired from the military today. I may stay for 30, to get 75% retirement or I may get out and work 20 years somewhere else. Bottom Line...I will be continuously saving for at least another 20 years.
I feel like I am the average american middle class (maybe considered upper, if all my investments are calculated) and have no idea how to make any of this work to my advantage. The housing market, oil situation, sliding dollar, rising gold prices and the unstable market makes me want to tear a hole in my bed mattress or the hem of our curtains. I know that I am not alone here...
Shiz
A lot of people are buying up real estate and housing since the prices have fallen so much and they are using this to both hedge the dollar and as an investment for when prices go up. This is risky since the real estate bottom still hasn't been found.
A couple of days ago , Greenspan advised the UAE to drop the U.S. dollar .
Interesting in that just a short while ago one of the largest corporations of the UAE purchased a percentage ( 17%) I believe of the New York stock exchange , a smaller percentage of the London stock exchange and 7% interest in the Carlisle Group . ( Investment Consortium )
The corporation's name escapes me at the moment , they are , however , tied into the conglomerate that includes Dubai International , they still own our major ports by the way .
Dow futures were up earlier now they are down 108. Asian markets are continuing to take a pounding. Every Europe, North America and South American index's futures are getting hit hard. It could be a bloody day tomorrow.
http://www.bloomberg.com/markets/stocks/futures.html
I've invested in butter.
I bought guns.
Suckers...
Yep, our country is literally being sold out from under us piece by piece. The last four years those pieces have become chunks, mostly by "sovereign wealth funds" in the middle east and Asia. Meanwhile we are devaluing our currency to pay for the national debt which is causing inflation and harm to our economy while stripping the common folk of any wealth they have accumulated.
Pretty sick stuff. Thank god we have the choice of voting for McCain or Obama, neither of which will even touch the subject.
Nobody caused this problem except for us. We've been living beyond our means for decades. We are only just beginning to see the consequences of it. Looks like we need a good ole depression on par of the one in the 30s so we can better learn to live within our means.