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Re: Economy - double dip and investments?
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Posted by Robert (more from Robert) on Thu, 8 Jul 2010 17:35:09 Share Post by Email
In Reply to: Economy - double dip and investments?, pete [Profile/Gallery] , Thu, 8 Jul 2010 16:38:39
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Our nations debt is out of hand and has been for awhile. China has actually started selling it off and investing elsewhere, which isnt a good sign. Reports also show that China's growth is also starting to slow-another bad sign.

I do think that 2011 will be a bad year. If Bushs tax cuts are allowed to expire then many companies and those who are able will just move income to this year in order to avoid the higher taxes next year (I plan on realizing some capital gains this year to avoid the higher rate next year). That in turn will create a no growth year with no hope of adding jobs either. Which will lead to bad earnings reports which will push stocks even lower while pushing gold up as investors look for a safer bet. I wouldnt say as high as 3K, but I think ~2500$ isnt out of the question.

The housing incentive just inflated the market just like cash for clunkers did for autos. Numbers already show that home sales are way down. Add to that the "second wave" of ARM's and prices are going to stay flat if not continue downwards and with the uneasiness of the economy who's going to want to take on a 300K loan?

If the *hit hits the fan......Im moving back to the family farm in Ga where theres lots of woods, cattle and plenty of guns and family to defend it all. Just live a much simpler life.

Lets not turn this into a flame war> these are just my own personal beliefs and thoughts.

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