Peoples 401k plans are shrinking faster than than the respect they once had for our elected officials with no end to the falling value in sight for the near future. Our new President Obama has issued close to 800 billion more dollars to be pumped into our economy some how forgetting about the first 350billion that was issued. There is just to many dollars being printed bringing our dollar value lower by the month. Unemployment is rising at unprecedented levels and our great leader decides to keep our "america last " policy as it has been for the past decades. In other words make everthing not in america. So its a pretty good bet that with most american companies producing goods elsewhere , that job growth will not increase. Job growth will most likely decrease further due to the companies need to cut jobs to show on their balance sheets more working capital and make their stock more valueable. The situation is dire indeed and will take more than throwing billions at the problem. This clearly is not working.
Gold prices however have been on the rise. As of today gold price per ounce is $914. One of the silver linings in this crisis is that you can rest assure that the sure fire result of all this free money being given away will be a devalued dollar. Gold will rise even further. There are many people I know who are thankful they had purchased gold and already are seeing that gold ownership is a must in bad economic times.
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