I started purchasing HQD.TO (Horizon Bear Nasdaq ETF) again. Some at 2450, and then some at 2500 points on the Nasdaq. I will look at loading up some more when the Nasdaq hits 2578 or higher, if it ever gets there.
If you think about the highs for the Nasdaq this year which was slightly above 2800, it is unlikely in this current economic environment that it will hit that high again.
Nothing much has been done to change the U.S banking system since the 2008 crisis. Basically, if anythig it is the same problematic system and getting worse. So, let’s see if the banking crisis 2.0 and recession will be upon us within the next short while.
About 6 months ago I warned a family member to move all his investment to cash or Canadian bond position, however the response I got back, was “Why should I do that, the financial stocks are doing very well now.”
I however, did not press the issue with this family member because I didn’t want to seem like a know it all, but I knew that the rise in the stock market will be followed by a sharp and violent downturn and it finally arrived.
While the United States government lies about their inflation numbers and creates inflation around the world by printing more U.S dollars, Canadian food prices have been rising at the fastest rate in two years. Many experts already know there is food inflation across the world and now it has been affecting Canadian consumers.
Statistics Canada figures showed that food prices rose 4.3 per cent in June from a year ago, . That’s the highest since July, 2009, and a tick upwards from the 3.9-per-cent pace in May.
While searching for more information on the upcoming September 27ish, 2011 earthquake predictions, I came across this phrase on one of the search results in Google “WSEMA Conference: September 27-29, 2011 (registration information). …”. This interest me, so I clicked on it and the website belongs to the Washington Military Department, Emergency Management Division.
On the Washington Military Department, Emergency Management Division website http://www.emd.wa.gov/ there is a tab called “Events” and when I clicked on it, I was eerily shocked because this was what it says:
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With the current economic situation in the United States which has somewhat spilled over into Canada, it would seem that most Canadian’s that are close to retirement are destined to work well into old age because they have not saved enough or are burdened heavily by debt.
A Canadian Imperial Bank of Commerce poll this week showed that only half of Canadian Boomers aged 45 to 64 have some type of regular savings programs in place. And a TD Waterhouse survey found 31% of retirees aged 55 to 70 are spending more in retirement than expected.
As this video shows, the previous U.S Government reports that the economy is growing and that a recovery was under way. What a crock of crap from the U.S Government.
In reality statistics has been revised downward, and earlier this year the U.S economy did not grow at all, and recently only grew 1.3%.
Watch the FOX Business News video:
http://finance.yahoo.com/video/economy-18773128/economy-still-facing-lackluster-growth-26110669;_ylt=Ag95C2guyDj_qrLea1e4X1vki7p_;_ylu=X3oDMTEzbW1qMnM5BHBvcwMxBHNlYwN2YXJfbW9kMgRzbGsDZWNvbm9teXN0aWxs
This doesn’t say much about how the U.S government manages its citizens / tax payers money, basically the operative word for U.S politicians actions is “wreckless” and “negligent”.
The U.S Treasury Department that has an enormous spending commitments (social securities, employment benefits, debt interest payments etc.) reported that its government bank account had less than $74-billion, and could hit zero dollars by August. 2. 2011.
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