The countdown has begun…
Automatic spending cuts amounting to a staggering $1.2 trillion are just one month away, set to begin on January 2.
The ominous fiscal cliff has officially become a probable reality.
Obama met with over a dozen CEOs this week to discuss possible alternatives, however our country’s leaders are stuck in a debilitating stalemate.
Jim Cramer is telling the American people, “We’re done. We’re going over the fiscal cliff.”
Merry Christmas from the Government!
Cramer’s right. If an alternative agreement is not reached in the next 30 days, the Budget Control Act of 2011 requires these reductions are effective immediately after the New Year.
This isn’t something that will be resolved in one fell swoop; it’s going to take place over an entire decade.
Defense spending will be slashed by about 9.4% amongst sizable cuts in a variety of other federal programs.
Meanwhile, middle class taxes will rise about $2,200 per family.
From talking with numerous people — co-workers, friends, family, acquaintances — it seems no one knows what this really means for them… and no one is truly prepared for the butterfly effects of this generation’s financial disaster.
Guns and Gold
On Black Friday, gun sellers reported record sales as calls “came in so fast and furious” that the FBI centers responsible for handling requests for background checks actually crashed twice on November 23.
The Bureau said it answered 20% more calls than its record year on Black Friday 2011.
While gun sales were launching, the yellow metal saw a big sell-off this week as gold fell to $1,705/oz before bouncing back.
If you want to keep your confidence up, you had better keep your gold holdings up.
In case you haven’t noticed, gold’s having a good month — and I expect it to remain so through December…
Christian DeHaemer recommends buying gold between Christmas and the New Year, due to tax selling. And come January 2013, gold is set to double when new banking rules that give it the same status as cash go into effect.
Our team of analysts at Wealth Daily sees the financial system for what it really is today — not what we wish it was. We see the big-picture problems associated with a slowing global economy.
We want to believe we’ll be able to avoid the enormous black hole of debt, but we’re not holding our breath…
That’s why we’ll continue to provide ideas on how to protect your wealth as the whole fiscal cliff debacle shakes out.
Those from this past week can be found below.
Best wishes for a prosperous future,
for Wealth Daily
It’s Much Worse Than You Thought: What You Need to Know about Shadow Banking
Analyst Briton Ryle explains why the regular banking system is not much different from the shadow banking system, even though most investors mistakenly believe new regulations (Dodd-Frank) have cleaned up the banking sector.
Backing an Energy Transition: OPEC is Holding the Knife
Why today’s declining oil imports may be due to one very large oil field in North Dakota…
Investing in Housing: Recovery Gains Traction
It might be too late to get on the housing stock run, but it’s the perfect time to get in on housing itself.
Myanmar Oil Investing: Myanmar’s Oil Bounty is a Lie
There’s barely enough oil in Myanmar to make it worth talking about.
The Japanese Debt Bomb: Money for Nothing
Christian DeHaemer tells readers what the next Japanese election means for gold.
Mexican Oil Crisis: Crisis of Consumption
Editor Keith Kohl explains why Mexico’s crisis of consumption will lead a certain group of investors to one set of profits in the oil sector.
How to Play Obama’s Carbon Tax: What Investors Should Know about Obama’s Carbon Tax
With a second term secured, widespread speculation about Obama approving a U.S. carbon tax is taking off. Learn which unexpected major company is pushing for it, how it will redefine America, and how to profit from it.
3D Printing Investments: Industry to Double in Next Four Years
Instead of using factories, production lines, multiple pieces of million-dollar equipment, and then shipping products around the globe… these companies make printers that manufacture almost any product imaginable.
Guns, Gold, and Barns: Plus the Chart of the Day
Christian DeHaemer tells you how to deal with the looming economic collapse.
The Best State in America: Drill, Baby, Drill
We’ve been all over this story for years. But now it’s getting really mainstream…