Moment is approaching...."
As the U.S. economy continues to sputter despite massive
government spending, investors should be considering how to survive
the dollar's implosion.
The role of the U.S. dollar as the world's reserve currency is changing as Russia, China, Saudi Arabia, India, Turkey, and Iran among
others are bypassing dollars in trades involving oil and other
Cash deposits in banks are shrinking as investors seek higher
interest rates in other financial instruments. The FED is
raising interest rates while draining the banking system of reserves
... the stock market will be affected negatively. Fitch has suggested
that more banks will be downgraded shortly.
Economic data is revised and methodology changed to present a false
picture for the public.
Major U.S. real estate companies are declaring bankruptcy as
U.S. interest rates approach 6%. Both credit card and auto loans are
looking at increasing delinquency rates.
The growth in credit card debt is greater than the growth in personal
income as individuals try to maintain their standard of living.
Do not be surprised if the NASDAQ falls through 8,000, the SPX
to 2,500 and the DJIA sees the 25,000 level.
Until the Biden Administration takes seriously the impact of
open borders and a failed education system, the outlook is less
Remember -- "Only purchasing power counts!"
Remember to ... "Keep It Safe, Simple and Stay Focused!" going
September 23, 2023
Fred Richards' has published his 'Tis Only My Opinion articles for many years on a wide range of subjects
and many are archived here. The current article is highlighted above.
Mr. Richards is a graduate of SMU and HBS, and a member of Who's Who in the World since 1965.
In 2017, Mr. Richards received the Marquis Who's Who Lifetime Achievement award.