To restore economic sanity let's learn from 2008 mistakes
By David Bradshaw, Editor, RMP
Dec. 29, 2008
Big economic changes are coming in 2009 fueled by; a new President, a global recession, conflicts in the Mid-East, massive government bailouts, more market volatility and a weaker dollar. But the outlook for gold remains the same: UP, UP, UP!
Last year we dubbed 2008 as “The Year of Surprises” and so it has been. A global financial-housing-credit crisis has already taken down some of the biggest U.S. financial firms, dragging U.S. stock indexes back near 5-year lows. We expect more of the same in 2009 as world powers struggle to restore confidence in a "faith-based" economic system.
Sweeping economic change in 2009 means investors must learn to expect the unexpected. Financial change requires making better choices. Now is the time to prepare your portfolio – before negative changes take you or your money by surprise.
Gold is now entering its eighth consecutive year of a long-term bull market, yet most portfolios lack a golden foundation. As investors pound the pavement looking for financial safety with some possibility of growth in 2009 the prospects are few. All major investment roads are blocked, except for gold. Here's why...
Americans need to take some time to reflect upon our biggest 2008 money challenges, then write down the needed changes in 2009 to overcome them. Here’s my top 10 list:
1) REDUCE DEBT - Especially credit cards
2) INCREASE SAVINGS - Financial emergency preparedness
3) REDUCE STOCK EXPOSURE - Fully diversify assets
4) INCREASE TANGIBLE ASSETS - 10%-15% in gold coins
5) FIND A BROKER YOU TRUST - Then tell your broker the truth
6) WRITE DOWN YOUR 2009 VISION - Goals, personal & business
7) INCREASE RESEARCH TIME - Read the fine print before signing
8) REDUCE FINANCIAL NOISE - Mute popular TV Wall St. Analysts
9) INCREASE INVESTOR IQ - Read daily updates at Swisssamerica.com
10) PRIORITIZE RELATIONSHIPS - God, family, work, friends, neighbors
"America was a land forged by rugged individualism, hard work and personal responsibility. Our strength was our ability to take care of ourselves and limit government to the very basics of protecting the nation. In 2008 that changed radically, and now it is all about big brother, Uncle Sam, taking over our lives. Most people are not only embracing it, they are demanding it," writes Swiss America CEO Craig R. Smith at WorldNetDaily.
Our personal choices determine our habits, our habits determine our lifestyle and our lifestyle determines our destiny. Small, daily choices ultimately shape our destiny -- as individuals and as a nation. Stated in reverse, if we do the same things that we’ve always done we will get the same result that we’ve always got. Positive change restores sanity.
Gold is THE financial light of the world and THE best investment of the 21st century!.
Our 2009 mission is to inspire America to rediscover gold for safety, liquidity, privacy and growth potential. To help you make 2009 a fruitful year of change we’re offering our 27th annual Real Money Perspectives newsletter free to the public.