This sub-prime thing is not going to be over for a while yet! The markets
may keep dropping for a while more. I think their problem is that they
have
so many blocks of bought debts that they will not uncover many of these
for
many more months.
The banks here in Canada are now starting to charge minimums per month for
just having a simple bank account. The basic starting fee is about $4.00+
per month per account. When I was a teenager and started using the bank,
they paid the customer to have a bank account and they paid good interest
rates! Now, they charge the customer to have a bank account, and paying
interest is a thing of the past!
In my personal opinion, I think that the best stocks to be in are gold and
silver mining stocks, and in oil and gas exploration and distribution
stocks. My preference would be for medium to high cap types. The ideal
would
be to keep following the stocks with Sell On Stop settings that are within
an acceptable percentage range for possible loss. I use about 6% average.
I
found the best resource market to be working in is in the Canadian TSX.
As I am writing this message gold is at 1031.40 up +29.40. Silver is at
21.20 up +0.53. These are record all time highs!
--
JANA
_____
<visualseeplus@[EMAIL PROTECTED]
> wrote in message
news:52028516-8d5d-4fb7-93e9-6f6c30a550a9@[EMAIL PROTECTED]
bad news on the sub-prime morgage comes in trickles which is
suspicious in of itself. A certain bank will "discover" it has lost
some billions due to the mess. Two weeks later they announce another
few billion in losses. Some time later..another couple of billion.
Like a leaking toilet, they slowly leak out the bad news to avoid
causing panic on the markets.
The old Enron scam of making debt disappear has been around for some
time. Now comes rumours that some banks have hidden their losses
hoping to declare it overseas later (or maybe never) rather than
declare them all at once in the US.
If they were ever found to be in collusion with the US govt, all hell
would beak loose on the financial markets. Nobody would trust govt
figures. As it is people are getting suspicious. Just like the fake
inflation rate and talk of propping up the dollar prior to devaluing
it, everyone would turn suspicious of any annoucement or instrument of
debt (i.e. money/bonds) issued by the govt or big business.
Cor****ate corruption has penetrated big government and is slowly
destroying the dollar's value.
So stay on guard and monitor the decline of your purchasing power
(cost of living). You will be a much better barometer of how fast
inflation is burning a hole through floor.
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