If you think inflation is high in Canada, I pulled this from the paper last week.
Zimbabwe's ravaged currency is to be revalued, slashing 10 zeros off all prices and values. Hyperinflation has destroyed savings and reduced the economy to subsistence levels, with bricks of banknotes needed for even basic transactions. The Zimbabwean dollar was worth more than the American greenback at Independence 1980, but Robert Mugabe's misrule has seen it plunge to a point where one U.S. dollar is worth around 100 billion Zimbabwean dollars, and accelerating up. Officially, inflation is running at 2.2million percent a year, but independent economists estimate it is far higher. Last week, a packet of local biscuits cost $489 billion. A teacher at a private primary school earned $485 billion a month. Bread was costing $200 billion a loaf, a can of Coke $600 billion, a plate of rice and chicken $800 billion, a beer $1.8 trillion and a local ride in a shared minibus $2 trillion.
If I had to pay $1.8 trillion for a beer, I'd have to move.
Monday, August 11, 2008
Friday, August 8, 2008
My Crystal Ball
Markets have been on a downward slide for much of the summer and till we see some resolve in the U.S. it might be some time before we see improvement. Having said that this saying has stood the test of time. "Buy Low and Sell High". I don't know where we are in the current market cycle but I do know we have come down a long way and it's starting to look alot like Christmas. I've attached an article from Don Connelly a powerbroker in the U.S, he seems to wrap it up in a nutshell.
DON CONNELLY’S CRYSTAL BALL
I keep a crystal ball in my bedroom closet. Occasionally, I drag out that ball and get a glimpse of what’s going to happen down the road. I took such a look this morning and saw what lies in store for us over the next ten years.
I know you are contemplating investing your hard-earned money in the stock market and I know you are afraid of the unknown. So let me tell you what’s going to happen and then you tell me how you feel about putting your money at risk.
In my crystal ball I see the United States losing control of the one thing that for 85 years served as a powerful reminder of the strength of the U.S. in the Western Hemisphere.
My crystal ball shows the U.S. bombing a country in Europe in an effort to halt ethnic cleansing.
I know from my crystal ball that over 100 top US public companies, including Exxon, Royal Caribbean, Rockwell International, Warner-Lambert, Teledyne, and United Technologies will plead guilty to multiples crime adversely affecting shareholders.
Health care fraud alone will cost Americans $100 billion to $400 billion a year.
I see a savings and loan scandal costing investors between $300 billion and $500 billion. The Attorney General will call this scandal the “biggest white collar swindle” in history.
My crystal ball shows nearly 200,000 US troops being deployed in an act of war.
We will experience one of the worst stock market crashes ever. In less than three years, the stock market will plummet 38%. (10th Worst Stock Market Crash: Date Started 1/15/2000. Date Ended: 10/9/2002. Total Days: 999. Starting DJIA. 11,792.98. Ending DJIA: 7,286.27. Total Loss: -37.8%)
I’m stunned, but I see the U. S. being attacked by foreigners on its home soil.
Unfortunately, One of America’s largest cities will be hit by one of the world’s worst natural disasters ever. The total economic impact will be $150 Billion.
Sadly enough, we will witness the worst mass murder in US history.
I hate to say it, but gasoline prices will go through the roof, skyrocketing more than 100% in the next 10 years. (1/6/97 = $1.41. 9/05 = $3.13. = +$1.72 = + 122%)
Unbelievably, home prices will leave the average American reeling more so than the price of gasoline. (1995 = $92500. 2005 = $213900. = +$121,400 = +131%)
Sadly, household bankruptcies will reach an all time high in the millions of households.
We will continue to be the wealthiest country in the world, but nearly everyone will be up to his neck in debt. Consumer debt will top $2 Trillion or more than $10,000 per household. If mortgages are included, consumer debt will top $9 Trillion. The bank’s best customer will no longer be the guy who can pay off his loan. He’ll be the guy who never pays off his loan, but continues to pay his ongoing fees.
My crystal ball shows more than half of all U. S. marriages will end in divorce, and the number one cause of divorce is financial pressures.
Incredibly, the White House will be rocked by sex scandal and The President of the United States will be impeached.
Compelling evidence will be put forth that the entire computer revolution might crash. It is proven by experts that this crash will mess up the bank accounts so you may not get the right amount of money back when you withdraw money. The lights will fail and factories will shut down across the country. To fix this problem, experts will determine that it will cost the United States $300,000,000,000 to $600,000,000,000.
Would you invest your hard earned money under those circumstances?
Oh. I forgot to tell you. The date on my crystal ball is 1997!!!!
December 31, 1996: 6549
April 24, 2007: 12,354
5805 points or up 89%
And if you knew in advance just one of the events I just mentioned and chose to wait until things got better, you would have missed one of the all time great rallies.
What did we lose control of after 85 years? The Panama Canal
What European country did we bomb? Yugoslavia
Where were U.S. troops deployed? Iraq
When was the United States attacked on its home soil? September 11, 2001
What natural disaster hit what city? Hurricane Katrina and New Orleans
Where was the mass murder? Virginia Tech
Who was impeached? Bill Clinton
What was the supposed computer disaster? Y2K
DON CONNELLY’S CRYSTAL BALL
I keep a crystal ball in my bedroom closet. Occasionally, I drag out that ball and get a glimpse of what’s going to happen down the road. I took such a look this morning and saw what lies in store for us over the next ten years.
I know you are contemplating investing your hard-earned money in the stock market and I know you are afraid of the unknown. So let me tell you what’s going to happen and then you tell me how you feel about putting your money at risk.
In my crystal ball I see the United States losing control of the one thing that for 85 years served as a powerful reminder of the strength of the U.S. in the Western Hemisphere.
My crystal ball shows the U.S. bombing a country in Europe in an effort to halt ethnic cleansing.
I know from my crystal ball that over 100 top US public companies, including Exxon, Royal Caribbean, Rockwell International, Warner-Lambert, Teledyne, and United Technologies will plead guilty to multiples crime adversely affecting shareholders.
Health care fraud alone will cost Americans $100 billion to $400 billion a year.
I see a savings and loan scandal costing investors between $300 billion and $500 billion. The Attorney General will call this scandal the “biggest white collar swindle” in history.
My crystal ball shows nearly 200,000 US troops being deployed in an act of war.
We will experience one of the worst stock market crashes ever. In less than three years, the stock market will plummet 38%. (10th Worst Stock Market Crash: Date Started 1/15/2000. Date Ended: 10/9/2002. Total Days: 999. Starting DJIA. 11,792.98. Ending DJIA: 7,286.27. Total Loss: -37.8%)
I’m stunned, but I see the U. S. being attacked by foreigners on its home soil.
Unfortunately, One of America’s largest cities will be hit by one of the world’s worst natural disasters ever. The total economic impact will be $150 Billion.
Sadly enough, we will witness the worst mass murder in US history.
I hate to say it, but gasoline prices will go through the roof, skyrocketing more than 100% in the next 10 years. (1/6/97 = $1.41. 9/05 = $3.13. = +$1.72 = + 122%)
Unbelievably, home prices will leave the average American reeling more so than the price of gasoline. (1995 = $92500. 2005 = $213900. = +$121,400 = +131%)
Sadly, household bankruptcies will reach an all time high in the millions of households.
We will continue to be the wealthiest country in the world, but nearly everyone will be up to his neck in debt. Consumer debt will top $2 Trillion or more than $10,000 per household. If mortgages are included, consumer debt will top $9 Trillion. The bank’s best customer will no longer be the guy who can pay off his loan. He’ll be the guy who never pays off his loan, but continues to pay his ongoing fees.
My crystal ball shows more than half of all U. S. marriages will end in divorce, and the number one cause of divorce is financial pressures.
Incredibly, the White House will be rocked by sex scandal and The President of the United States will be impeached.
Compelling evidence will be put forth that the entire computer revolution might crash. It is proven by experts that this crash will mess up the bank accounts so you may not get the right amount of money back when you withdraw money. The lights will fail and factories will shut down across the country. To fix this problem, experts will determine that it will cost the United States $300,000,000,000 to $600,000,000,000.
Would you invest your hard earned money under those circumstances?
Oh. I forgot to tell you. The date on my crystal ball is 1997!!!!
December 31, 1996: 6549
April 24, 2007: 12,354
5805 points or up 89%
And if you knew in advance just one of the events I just mentioned and chose to wait until things got better, you would have missed one of the all time great rallies.
What did we lose control of after 85 years? The Panama Canal
What European country did we bomb? Yugoslavia
Where were U.S. troops deployed? Iraq
When was the United States attacked on its home soil? September 11, 2001
What natural disaster hit what city? Hurricane Katrina and New Orleans
Where was the mass murder? Virginia Tech
Who was impeached? Bill Clinton
What was the supposed computer disaster? Y2K
Welcome to my blog Ironman Financial Inc.
Good day everyone, finally I have started to input data into my blog. This is not as simple as one might think, you actually have to spend some time to think about what you want to say, so here it goes.
I would like to see this blog as a spot where one goes to get my views on current market conditions. Remember that these are my views and every situation is different, what applies to you might not apply to someone else and vise verse. Most of the time, I will be generalizing on this blog and of course if you have a specific concern you'll need to contact me and we can chat one on one.
Check back often as I hope to add new thoughts regularly.
Mike Bock
I would like to see this blog as a spot where one goes to get my views on current market conditions. Remember that these are my views and every situation is different, what applies to you might not apply to someone else and vise verse. Most of the time, I will be generalizing on this blog and of course if you have a specific concern you'll need to contact me and we can chat one on one.
Check back often as I hope to add new thoughts regularly.
Mike Bock
Monday, May 5, 2008
Welcome to Ironman Financial's new blog.
I partner with some of the largest companies in Canada and in the world drawing from the power and creativity of the best professional money managers in the world.
See Partners >
I offer personal financial planning services including:
- Comprehensive financial planning services with regular reviews and monitoring
- Partner with some of the best mutual fund company money managers.
- RESP's - self-directed Education Savings Plans with federal grants of up to 20% of your deposits
Call if you have questions you'd like answered or to discuss your personalized financial strategy.
Subscribe to:
Posts (Atom)
