I hope everyone in the United States had a Happy Thanksgiving yesterday. Today, also known as Black Friday, is the day where stores entice people to buy stuff for the Christmas season. Watch out for many deals such as Free Shipping, No Tax and XX% off.
However, we should be reminded not to spend beyond our means. Spending beyond our means helped create this economic crisis. The government and media tells us that we need debt in order to function. If this is the case, why does the Federal Reserve keep pumping liquidity in the market and tell the American people and the government to keep borrowing more of what they can't afford while it does nothing to help the current situation. We are heading towards a socialist state, and while bailing out a major institution like Citigroup will help prevent an economic meltdown, its far reaching effects will be felt far and wide. I am preparing for inflation to take off in the next 6 months or so, and it will not look pretty.
I would suggest buying things that store their value such as gold, silver, and agriculture in order to prepare. Here's something the media doesn't tell you. While gold is still hovering around $810 an ounce, it has been making all time highs in every other currency other than the U.S. dollar and the Japanese Yen. Gold will always preserve wealth, while phony paper printed with green ink will not.
Friday, November 28, 2008
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1 comment:
The purpose of Black Friday is to create an atmosphere of frenzy that the day after Thanksgiving are where the consumers get the best bargains. The marketing ploy of the big companies should be changed. The bottom line is that these retailers are thinking about profits but at what expense? The consumers got their bargains but the employee at Walmart paid the final and ultimate price with his life!
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