I read a terrifying article today (why do I do that?) from Jon
Markman at
MSN. I have included a live link if you would like to see the article. Unless you live underground, you know what's been going on in the U.S. markets and there has been a large amount of investors taking their capital overseas. Well, according to Jon, the run on the world market is over, and the U.S. is again the place to put your money. Let's face it, if Warren Buffet is no longer betting against the dollar, why should you? Here is a quick summary of the world markets:
- U.S. down 15% for the year
- Britain down 22%
- France down 22%
- Germany down 24%
- Spain down 23%
- Russia down 23% (not to mention they are always invading someone)
- China down 31% (How about those Asian markets?)
- Japan down 16%
- India down 43%!!!!!!!!!!!!!!!!!!!!!
- The Latin American countries are hurting as well, but I am tired of typing in numbers.
Seriously though, where do we put our money (since I don't have any, this does not really effect me, so where do you put your money?)? Do you just leave the market alone for awhile and put your money in a bank account earning between 1% and 4%? How about this: "Chris Whalen, the managing director of Institutional Risk Analytics, has told Dow Jones Newswires that he expects 110 banks with $850 billion in assets to fail by next July, which is eight times the Federal Deposit Insurance Corp.'s reserves." (Markman, MSN) So there goes your insurance when your bank closes down.
Maybe I will just start mining for gold. Where is my pick-axe and dynamite?
