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I’m at my home office this morning, poring through hundreds of comments from readers like you.
Indeed, it’s been a fascinating week for me here at Weiss Research.
All week long, we’ve used my personal blog to discuss the consequences of the massive debt crisis now threatening America’s states, counties, cities and towns.
Thousands of readers logged in to answer our questions of the day — including …
What cuts in government services are you hearing about in YOUR area?
How do you think these cuts in spending and huge tax increases are likely to impact the U.S. economy in 2011?
Will they be enough to prevent a massive implosion of state and municipal bond markets in the year ahead
Given these realities, how long do you think this stock market rally will last? Is it safe to buy stocks now?
If leading analysts are correct and this great state and municipal debt bomb detonates in 2011, how will it impact the value and buying power of THE U.S. DOLLAR?
Every single day, the vast majority of our readers — about nine out of ten — told us that it could be next to impossible for our state and local governments to paper over or even delay this crisis.
America’s Day of Reckoning has finally come!
What’s more, the vast majority fully expect this great debt crisis to cripple this fledgling economic recovery … ultimately END the recent rally in stocks … and leave Wall Street a smoking ruin.
Most disturbing of all, many expect the first dominoes of this debt crisis to fall early THIS YEAR. Some predict it will happen as early as February — just over two weeks from today!
In another day or two, my team and I are going to offer you our answers to these questions and more importantly, we’ll give you our recommendations for protecting yourself and profiting.
In the meantime, though, I need to ask you one, final question:
How do YOU plan to keep your money growing
as this new debt crisis impacts the U.S. economy?
Just click this link to jump on over to my blog and give us your thoughts. And while you’re there, check out the other readers’ posts. You’ll probably find some great investing ideas there!
Good luck and God bless!
Martin
Dr. Weiss founded Weiss Research in 1971 and has dedicated his entire career to helping millions of average investors find truly safe havens and investments. He is Chairman of the Weiss Group, which includes Weiss Research and Weiss Ratings, the nation’s leading independent rating agency accepting no fees from rated companies. His last three books have all been New York Times Bestsellers and his most recent title is The Ultimate Money Guide for Bubbles, Busts, Recession and Depression.
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Ashland,ky. AK Steel announces closing of local coke plant which has provided jobs for over 200 workers for decades. City loses $50 mil. in tax receipts. Plant out of compliance with EPA and “not worth fixing”
One thing I fail to understand is that why most analysts are recommending the purchase of Gold as a safe investment? The problem today is that the price of Gold is not derived by it’s physical demand or supply but more by the speculative positions standing long or short on the commodity exchange like any other traded commodity, stock or currency.
The basic mechanism of price discovery (based on demand and supply for actual use) of anything traded on an exchange has been terminally infected by speculators having access to unlimited funds and super fast computers for trading leading to volatile price swings. This has been made worse by the launch of ETFs for anything and everything under the sun by the financial community.
The price of everything including Gold is likely to suffer when the speculators unwind their positions due to some event that they have not anticipated or foreseen.
http://www.marketoracle.co.uk/Article24581.html
I don’t know about state and city services being cut (other than once-vacant positions disappearing without being filled, and police going to 12-hour shifts), but I have noticed the odd disappearance of laundromats in this area. It seems like these are closing at the rate of grocery stores in some towns!