Oh boy…a perfect storm?
By Heindrick • Mar 13th, 2008 • Category: Archived
Call it the perfect storm, blame it on everyone else.
With home loan rates and commodities rising , the dollar just keeps on falling.
Today, as of March 13 2008, gold finally broke the 1000 mark. Gold was below the 900 mark this January and was expected to surpass 1000 mark this year. Some even were so bold to even mention a 2000 mark. We will see, but heres an article from NYT worth reading.
On Thursday, the dollar plumbed new lows against the Japanese yen and several other major currencies; the price of an ounce of gold jumped above $1,000 for the first time; and lenders raised home loan rates once again. Government figures showed retail sales fell in February as consumers cut back on cars, furniture and electronics.
Stocks fell sharply after the retail sales report was released early in the day, and a large investment fund said it was nearing collapse. The volatility that has defined the market lately continued unabated.”
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Heindrick is is an electrical engineer in the medical device industry.
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