At a speaking engagement this week, I had an opportunity to reconnect with a long time friend of mine, Dan Burrus, who also happens to be one of the world's leading science and technology forecasters. He was explaining how his company recently created a very popular iPhone App called Complete Foreclosures. In fact, he was well aware of the significant number of homes currently in foreclosure, and the looming shadow inventory of homes in some stage of default, that will no doubt help keep his iPhone App a popular download for years to come.
Dan's market research had revealed the foreclosure market as a high demand growth market for an iPhone App. When he learned about my work with Goldseek Radio and several resource companies, he wanted to know all about the gold market. We had just a few minutes to chat, so I shared with him the "cliff notes version" of what you need to know as you begin to look at the gold market.
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Timing is everything. As the weeks go by, more and more financial experts are citing a window of time 3-5 months from now where we can expect the next major leg down in the market.
In an article by Greg Hunter, Gold Expert Jim Sinclair responds to the question of when will the dollar start plunging? He replies, "the time horizon, I think, is four months". Last week on Goldseek Radio, Robert Prechter said he believes the Dow is headed down soon, and will likely break its March 2009 lows and keep going. Possibly a lot lower. He mentioned 2000-3000 on the Dow as a possibility. On that same show, Harry S. Dent Jr. confirmed his analysis that the market would begin a sharp decline between August and November of this year. On previous broadcasts I have summarized similar reports by Richard Russell, Gerald Celente and there are many others. While these analysts and forecasters differ on how gold will perform in such a downturn, the consensus is clear: we ARE headed for a downturn. And a sharp downturn, at that.
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Continue reading "The President Missed the Memo: Economic Growth is Not Strong" »
The oil catastrophe in the Gulf of Mexico rages on. The details are spotty at best. In an interview on MSNBC, oil expert Matt Simmons pointed out that the YouTube video everyone has been fixated on with oil pumping out is
not the source of the large second plume of oil that is the size of Maryland and Delaware. He said
"we've been focusing on a leak the size of a mouse and behind that mouse is a leak the size of a tiger."That tiger is getting hungry and is ready to wreak havoc on coastlines and ecosystems throughout the Gulf of Mexico and potentially the eastern seaboard of the United States. Possibly even further. Soon, we'll be approaching two months worth of oil gushing into the gulf. Tourism is being slaughtered. Economies are being destroyed. Jobs are being lost. Some reports are suggesting that the oil dispersant called Corexit is helping to keep much of the oil underwater, out of sight, and to a lesser degree, out of mind. Only time will tell.
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Continue reading "If You Think Oil Is Expensive Now, Wait Until Your Congresman Pumps Your Gas" »
What's next? That's a question I am often asked by clients, audience members and teleseminar participants. The answer to that question is a moving target because there are so many things one needs to stay on top of in order to remain nimble enough to navigate rapid change. Here are several "What's next?" scenarios to keep in mind as we move through the summer:
Banks are scrambling. In conversations with several banking executives I have been told that banks are not loaning money. They are authorizing far fewer loans. An unspoken, behind the scenes trend, is that banks are attempting to cross collateralize every kind of loan on their books. Companies and small business people who, for years, have had lines of credit for payroll or seasonal expenses are now being told they must securitize those loans with any kind of asset they might possess. In other words, having even one loan at a bank can put all your other assets as risk. Customers that object are being told to take their business elsewhere. The squeeze is on. The solution is to opt out of using banks whenever, wherever and however you can.
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