Gary and I frequent a website called Be Early, run by John Budden and Rob Snow, two personalities from Ottawa talk radio station CFRA.
It’s a bit of a mess of a website (for example, if you use Firefox, all of their embedded media files play all at once. Nice.), but there is invaluable information buried in that mess. Financial acumen does not always go hand in hand with expert web coding.
3 common themes:
- The US dollar is in trouble.
- Gold and other precious metals are a safe haven should currencies start to fail.
- “Discovery Investing” in small, well-run resource companies is fertile ground for massive returns.
Two items made my head spin from yesterday:
- 78 million baby boomers are nearing retirement in the USA (article). 25% of them have net worth of less than $50,000, meaning savings, equity in their house, 401k’s, etc. All of these people will be completely dependent upon US government social security to survive.
- The US government does not account for future social security obligations when they quote surplus or deficit figures. They report on a “current accounts” basis, money in vs. money out. Last report was a deficit of $248 billion, or $248,000 million. A scary figure, right?
Well, that’s like me quoting my financial situation today without referring to my house mortgage. Sure I have some money in the bank, but I owe the bank mortgage payments every two weeks for the next 25 years.
If the analysis is done including future social security obligations, the 2006 deficit is $3.5 trillion. $3,500,000 million. $3,500,000,000,000. That’s not their total debt, that’s just how much they fell short this year, if they were to fund future obligations properly.
I’m curious how Canada compares …
Anyway, if you are at all interested in investing for your future, this is a great website to lurk on. 3 areas get updated daily:
- Opinion, where a Dr. Michael Berry posts his daily commentary and investment ideas.
- Technical, where a chart du jour is posted.
- Blog, where further commentary is posted.
I really missed my calling. What am I doing in engineering? Should have went into finance …
Heather - Congrats!! I don’t know you, but I’m excited for you. Can’t wait to see pics of the wee one. Good luck…you know with that whole giving birth thing.
Kristin - Congrats Shan! See you tonight.
Danielle - Congrats office buddy!
As happy as I am for you (and Peanut I might add, who gets to arrive soon!) I’m sad for me and my lonliness that will hang around the office until you come back. The office WILL NOT be the same without you…. please visit me!!
Happy vacation week! p.s. be on gmail chat tomorrow? 🙂
shannen - Thanks for the wishes, Gals.
It’s Monday morning, I’m up and already feeling weird about NOT having to be at work today…or tomorrow. Not bad weird, just weird. I think good weird will grow on me.
Heather: You can guarantee that this little one may be the most photographed on forgetful.ca. She may even out-do the Humph, which would be difficult.
Kris: The Hat game rocked. Your partner should try out for the Gilmore Girls. I’ve never heard a contestant ‘clue’ that quickly.
Danielle: You. Me. Gmail. It’s on.
Sonja - Congrats Shan! I hope you still come and meet me for coffee during the week even though you will no longer be across the street.