UPDATE on MaadDaawg's Doomsday Scenario
Big day today in the World of YOUR Money
Being unemployed I got lots of time to read, so I've signed up for numerous financial news letters cause I never really knew about investing before. very interesting when you can follow what's happening and understand why.
President Obama is scheduled to give his big jobs speech today, AND, more importantly, Fed Chair Ben Bernake is expected to make a statement regarding what the Fed will/may do to help boost the economy (this just after the non-event at Jackson Hole where the Fed was missing in action.)
As expected the stock market opened up, following yesterdays rise in stock prices. Precisous metals (primarily silver and gold) are opening on the downtick, losing money as the stocks gain.
This is because everyone is hoping against hope that the President and Helicopter Ben will have good news and sprinkle fairy dust over the country and reignite the economy.
Should either of these two guys blow it, expect stocks to tank tomorrow and gold and silver continue their rise in prices.
Meanwhile, the EURO is predicted to become a thing of the past in the near future, so shorting the EURO is probably a very safe bet. It's lower against the dollar than it's been for a long long time.
I just bought into Proshares supershort II EURO ETF (EUO) which pays on the downward movement of the EURO and is leveraged to pay out twice the amount of any downward movment in the EURO.
Consider that when the EURO crashes, it will take down US banks with it since they have large holdings of EURO denominated debt. Gold and Silver will skyrocket and stocks will plunge.
Cheers
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