Wednesday, July 31, 2013
The key of course is pay on time, in full, and incur no interest or fees.
I have everything on autopay to ensure it is never an issue.
However, if you have some debt you need to pay off, first thing is to stop over-spending.
Second step is to move the debt to lowest interest possible.
Third is to pay off the credit cards in full in a set timeline, payment per month. In this case, set a goal of 18 monthly payments.
There are credit cards that let you transfer balances to it, with ZERO interest for 18 months.
Pretty incredible actually.
There is a 3% transfer fee, but typically that fee is ignoreble compared to annual rates of 12-30% annual interest.
Here are some cards with 18 month no interest on transfers
CitBank Simplicity - No annual fee, no late fees, no penalty interest rates.
CitiBank Diamond Preferred - will charge late fees, but like Simplicity
Discover - I like 5% cash back on new purchases (like gas right now), and 1% on all else.
15 month zero interest
LOW Fixed interest of 8%! and get back 1% on balance transfers!
Tuesday, July 23, 2013
Even if gold and miners reverse from here, how much farther can it fall?
In the 2008 crash GDX hit around 15 for a day or two, and traded around 17-20 for a bit before moving much higher.
Below are the charts for gold and GDX. If you can stomach it, now is the time to get in.
Actually last two weeks was, and I went in early myself.
I think with Gold gaping above the trend, and GDX and GDXJ heading for the trend reversal, it is looking like a good time. (GDXJ is gold miners/silver miners, smaller cap)
Don't expect a straight line up, both could get a nice punch down after such a good rally.
And to boot, my friend Happy John who hasn't traded in gold miners for years, went in for a decent chunk.
As for overall stock market health, the last two bubbles lasted about 6 in 2000 the .dotcom bubble, then 5 years for housing, now its sovereign debt. If history repeats the market is reaching the end of this bull run. Even if the market fell apart tomorrow, again, how much lower can gold and gold miners go?
To the charts!
Sunday, July 21, 2013
I won't give timelines, apparently when there is an issue, politics can kick the can much farther than I thought possible. Detroit has been bankrupt for years, but somehow they managed to not go legally bankrupt until now.
Its a pi-polar marketplace right now. The reality seems grim, but the markets are levating. If municpal bonds do start to see rising rates, this could be the begining of the phase 2 of this decade journey we are on. Contagion spreading to the government bonds, the next bubble.
I do think gold is near a bottom, if bonds start having issues, gold may start moving quick. I suspect we are finally seeing the gift in gold I predicted back in 2009, quote.
The gist is, I plan to ride this next wave down short the market (not short resources). I'll start looking for rolling into precious metals/resources WHEN IT LOOKS LIKE A GIFT.
If gold and gold miners don't look like a gift right now, not sure how much lower it must go to be a gift.
Sunday, July 14, 2013
Specifically around how media was allowed to consolidate.
This video series is excellent, clearly laying out our current sad stae.
I'll file this under corruption
Across the world -- Greece, Spain, Brazil, Egypt -- citizens are turning angrily to their governments to demand economic fair play and equality. But here in America, with few exceptions, the streets and airwaves remain relatively silent. In a country as rich and powerful as America, why is there so little outcry about the ever-increasing, deliberate divide between the very wealthy and everyone else?
Media scholar Marty Kaplan points to a number of forces keeping these issues and affected citizens in the dark -- especially our well-fed appetite for media distraction. An award-winning columnist and head of the Norman Lear Center at the University of Southern California, Kaplan also talks about the appropriate role of journalists as advocates for truth.
Thursday, July 11, 2013
Take a look at how the total assets in the banking industry was moved to the top 3 banks.
Good video to watch below, see article on this here.