I’ve been a worrywart lately. Perhaps I’ve been watching too much Glenn Beck. Perhaps I have too much time on my hands to stumble upon otherwise ordinary information and connect dots. Unrelated? I don’t think so.
COPPER: Copper is the metal of industry. You can’t build anything without it. If an item has an electrical component in it, chances are, copper has something to do with the manufacturing of and/or the working of the item. Generally, the copper market can predict industrial output for the next six months to a year. This week, the copper market collapsed.
DOLLAR: The dollar is fairly high (and I write that with a laugh). But that’s in relation to other currencies. In relation to gold, the dollar is low.
GOLD: Yeah, what’s up with gold anyway? Does it signal deflation? Inflation? Disinflation? Depression? Recession? Recovery? I’ve heard all the above and more as an explanation of gold prices. I don’t think anyone will know until a proper autopsy after the corpse of our economy is discovered.
WALL STREET: I saw somewhere on the news (CNN?) that it’s predicted that the Dow will hit levels not seen since the mid-1990’s. So that means it’ll bottom out somewhere around 4000. Shit. Really? I’m suddenly glad that I’ve never had enough money to put into a 401K or other retirement plan.
MORE WALL STREET: Every time Obama says “crisis” the Dow drops. He said “crisis” 25 times in one speech alone. If you can attribute today’s trading to Obama’s speech, the Dow dropped 12 points each time he said the word. Someone needs to tape that man’s mouth shut. I don’t think Wall Street likes where Obama’s leading the nation. Or at least, they don’t like it when he goes into fear-mongering mode.
GENERATIONAL/CYCLICAL CRISES: The Baby Boomer’s crisis is here. The best part of this (really long) article:
Boomer leaders are always sure, and often wrong. They are dogmatic and cocky. They utter the words catastrophe, without specifying what will happen if you don’t follow their plan. They say that we will enter a permanent decline if we don’t spend our way out of a situation that was caused by spending too much. Boomer followers are so shallow and self involved that they will put reason aside and believe that we can spend our way out of this. The easy sound bite solution is what they are looking for. The word sacrifice does not exist in their vocabulary. The well being of future generations is of no interest to them. The day trading, house flipping, BMW driving Boomers are looking for the next big thing. The danger is that the next big thing could be a major war.
TAXES: Some states may not be able to send out tax rebates this year. I’d send in your taxes AQAP if you want to get your money back.
EU: The European Union: Not so united after all. Half of them want us to save them. The other half want us to go down in a fiery crash of SUVs, crude oil, Wal-Mart, and McDonald’s. BOOM!
STIMULATE ME: My half-assed stimulus plan: Banks would be required to refinance home loans at 3%. If the home owner is underwater, then the loan my be bumped out to 40 or 50 years until the loan is paid in full or until the market recovers enough to refinance at more “normal” terms. You would not be eligible for the plan if you lied to get the loan (i.e., misrepresented your earnings to qualify for a larger loan). [I admit; that last part is just for spite. I hate liars and they deserve what they get. Gods forbid they should profit from it.]