This is a question I got today on an e-mail from one of my friends at work. So what are you really thankful for? There are many things to give thanks for. It is true that the market has not been in its best behavior and some people find resemblances between today's situation and the great depression. You must remember that the depression came a year after the great market crash. Today we have seen the market collapse all the way from 14000 to around 8000. I imagine there are a number of baby boomers that have had a change in plans and may be postponing retirement a few more years. This is sad indeed and I can only wish that they are able to recover the money they lost over the last few months. Unfortunately, if you look at history, it does not look very promising for those clinging their hopes on the stock market. My personal view is that the stock market will not do anything for a few more years. I have been saying that for quite some time and keep repeating it. In the meanwhile the dollar is not in the best shape. It is true that it has been going up over the same time period, but do not worry, this will not last for long, the fate of the dollar is also a dire one. The Federal Reserve has been flooding the world with hundreds of billions of dollars and will have to keep doing so if the US wants to avert another great depression. As I said before, gold is about to undergo one of the greatest bull markets in history, that is if we do not go into depression/deflation.
So it seems like there is little to be thankful for huh? Well, not exactly, look around to what you have: health, loved ones, freedom, a great standard of living compared to the rest of the world. There are many things to give thanks for, I personally give thanks for my family, all the stuff we have and are able to buy. The fact that we are healthy and live in a country where there is freedom to speak and act. A country with far more opportunities than the average country, despite the bad reputation that President Bush has developed. We are just 2 days away from thanksgiving, and my question to you is the same: What are you truly thankful for? Think about it, I'm sure you will find plenty of reasons. The man without shoes kept complaining until he saw on the street a man without feet. If you have been reading my blogs throughout the years, thanks for putting with me and I hope you have learned some from my blogs.
Happy Thanksgiving!!!
