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  1.    #1  
    Interesting from Financial Advisor, Ric Edleman:

    Q: Im in an e-mail group of bright people from all over the U.S., and we discuss politics and economics. One person keeps sending articles from a Web site that reiterates the danger we are in because the dollar is no longer attached to the gold standard
    and thus our investments are at risk. I would just like your opinion on all of this. Todays article was on China buying up gold reserves. Could you enlighten me when you have the time?

    Ric: The U.S. hasnt been attached to the gold standard in more
    than 60 years, yet were still here. Worrywarts constantly tout
    the end of the Bretton Woods agreement as a woe is us mantra.

    Its easy to cite reasons why the sky is falling: a weak dollar,
    large U.S. debt, the federal budget*deficit, the trade imbalance, job outsourcing to foreign nations, foreign ownership of U.S. debt, the war in Iraq, bird flu, global warming, the next election and so on.

    But before you panic, consider that we also are enjoying low inflation; low unemployment; U.S. worker productivity increases; interest rates still at relatively*low levels; huge corporate profits; record tax
    revenues; strong growth in GDP; complete political stability in the
    U.S. and all industrialized nations (save parts of the Middle East);
    the demise of Communism (but for Cuba and North Korea); the growth of capitalism in China, India and the Far East; technological and
    health care/life sciences innovation; and generally improved standards of living around the world (save third-world countries whose policies
    prevent them from catching the wave).

    As Dickens said, Its the best of times and the worst of times.
    Those who insist on drawing a conclusion by looking at only one
    small piece of the puzzle should read Chapter 50 of The Truth
    About Money. It explains how to handle your investments if you
    fear there will be an economic collapse. And did you say this guy
    was bright?
  2.    #2  
    Make that, Ric Edelman
  3. #3  
    Every generation, decade, and sometimes a year has it's own Chicken Littles (CL).

    What is also interesting is the different CL for different political affiliations (i.e. Dem or Rep), religious preference (be it Christian, Atheist, Jew, Muslim, etc..), race, nationalities, professions (blue collar, white collar), or groups with common points of interests or hobbies (i.e. conservationists, hunters & fishermen, sports fans, ect..).

    If you ask each of the above demographics if the sky is falling and why / why not you will probably get similar themed responses. Both then you compare the answers from one demographic to another I am sure they will be widely varied.
  4. #4  
    ...and I'll be the CL for the endangered Zambian white rhino. 'bout them apples?

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