Thursday, December 23, 2010

News For the Week

So I haven't written anything in awhile mainly due to work and the holidays. I've also been considering how I want to continue to operate this blog and what direction I want to take it. So right now I'm going to try to update three times a week on Monday, Wednesday and Friday. Let's start out with what the latest news is. We see a lot of things on TV and in the headlines but we've got to always remember to read between the lines.

News reports continue to come in, looking for any sign that the economy is on the rise. Our consumer driven economy is looking a little better things to the numbers coming in from the excess of Christmas, both in terms of money spent buying Christmas presents and money spent hiring people to work the retail jobs. However, expect those numbers to drop next month after many of those workers are laid off because they were temporary. Also expect consumer spending to be reigned in due to people trying to save money after the Christmas rush and having to pay off the credit charges for all those gifts.

Gas prices are rising, hitting an average of $3 a gallon for the first time during the Christmas season. While there is a lot of speculation as to why the price has risen during the winter, a time in which we've normally seen prices fall, the best idea is the loss of buying power in the dollar. This affects the oil prices because they're measured in dollars. We've been seeing this same affect in the markets for silver and gold. As of this writing, silver sits at $29 an ounce, and gold is at 1$1380 an ounce. Recently the prices for those metals hit $30 and $1400 respectively. Those prices are projected to go even higher next year.

Jack Spirko has posted up an article about some of the problems that are economy is facing and how it will affect us in the coming year. There's a podcast to go with it, both of which are worth looking at. Peter Schiff has posted up his latest video blog on YouTube, discussing some ideas on taxes, the economy and a perceived gold bubble. Finally, we have Ron Paul's weekly straight talk and gives an excellent lesson on the ideas of tax and tax policy, revolving around the recent passing of the tax bill. I offer these up to you because it's always important to get your news and information from more than one source.

While I like to discuss a lot of things here that deal with our freedoms, the biggest issues at the moment and ones that I think will continue to develop in the future will be centered on economics. Some of the things I've given you here will show that the next year may start to look like things are improving. But the underlying foundation of our economy hasn't changed and there is a very real risk of a second collapse, which would be worst than the first one.

This isn't an easy thing for some people to hear. We all want things to go back to normal, when we didn't have to worry about keeping our jobs or having our taxes going up or even if we would be able to afford the food that's on the shelves at the store. However, burying our heads in the sand and remaining ignorant of the dangers that may come will only make us more vulnerable and less prepared for cope with the problems we face. Ignoring the storm until it's right on top of you can get you killed.

As always, it's the things we do as individuals that will get us through the tough times no matter what is thrown at is. Enjoy your Christmas with friends and family, savor the holidays but be ready to tighten the belts when the party is over. All hope is not lost and those of us who are willing to save money and take steps to buy the things we need rather than the junk that we don't will have less to worry about if the economy takes a bad turn and we start losing jobs and see prices on basic items start to rise. We hope for the best but plan for the worst.

And always remember that if you don't stand for something, you'll fall for anything.

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