Thursday, August 7, 2008
Lost in the Shuffle
Asia stock markets at 2 year lows. American markets teetering. Fannie & Freddie collapsing. Oil is still $120 per barrel, double last year's price. Unemployment and new jobless claims at rising.
Yet the U.S. Dollar has been rallying, and not just against other terrible currencies, but against the precious metals as well. GO FIGURE. Actually, I have been figuring, and it appears to me that the Euro has peaked (and that could change quickly), that the next ECB move is a cut (which is what I thought 8 months ago, and I was wrong).
Still, my money will continue to be on Oil, Gold, Silver, Corn, and rentable, productive agricultural property, though nothing is working at the moment. Gold and Silver could come under further pressure.
I would like to say "don't fight the trend" but holding U.S.$ is not an answer as a store of value.
There are no good answers at the moment...
Mentatt (at) yahoo (d0t) com
Posted by The Short Story Man at 7:20 PM