A bold strategy or a bad political tactic with 27 days to go until Election Day?
President Donald Trump announced on Twitter that he has ordered his aides to stop negotiating another round of coronavirus-related stimulus and relief measures until after the election.
“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” he tweeted.
The announcement sent financial markets tanking.
The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite Index plunged one percent. Gold fell below $1,900, while silver plummeted 4.3 percent. Oil pared its gains, while natural gas shed more than four percent.#BREA
Good, Let some of the air out of these asset bubbles. Stocks are overpriced and over valued. Fools gold – Gold hit $2,093 in August 2011, it would need to be over $2,400, if you purchased it at that price, just to have the same buying power as your money in 2011. Investing in positive cash flow rental property and classic cars seems to be a much better use of money. At least with the car you have something you can enjoy and drive to events on weekends. The only ones making money in precious metals are the dealers. Otherwise it is a very long term play and you only make big bucks if you invest a lot of money and paper money goes to zero, which I do not think the world bankers are ever going to let that happen.