The Ownership Society: Worthy Concept, Poor Execution
I am not a great believer in the governing abilities of our former President, George W. Bush, but I do think his concept of having wide swaths of Americans participate in an ownership society was a laudable goal. The concept included large numbers of Americans riding a wave of prosperity engendered through ownership in appreciating assets such as homes, businesses and retirement accounts. This was viewed as a ticket toward upward mobility. At least that was the theory.
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Obama and Bernanke May Destroy the U.S. Dollar to Repay National and Foreign Debt
As the dollar begins to cascade down once again with the dollar index at 81.64, many market participants, including this writer, are coming to the conclusion that America's domestic and foreign debts will be repaid with dollars that are worth much less. Many participants agree that the U.S. Treasury bonds that we and other nations hold will end up being worth less in real terms (i.e., will be able to buy fewer goods and services), and perhaps a great deal less in future years.
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Silver Market May be Embarking on Important Price Rally
The silver market appears to have broken upward through important resistance at $15 per ounce on the weekly and monthly charts, closing at $15.73 per troy ounce for the trading month of May 2009. On both charts, it appears silver could reach as high as the $17-$20 range, with a potential blow-off top potentially reaching the old 1980 high range at $32-$42 per ounce. This may occur in the next one to two years, perhaps much sooner.
The use of price charts and similar analysis has key limitations, and no one can predict with accuracy short-term price movements. Nonetheless, the possibilities here are interesting.
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