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Economic Forecast 2008

Predictions forecasts:dollar continues to fall 20% (in relation to Euro/Pound)which in turn drives oil up to $125/a barrel by May 08. As oil rises grain prices (Corn, Soy, Wheat) may double shocking foodstuff sellers and buyers. Additional inflation (avg. price of goods one year ago versus now), up to 15% will weaken purchasing power and debt pay off. House construction slows causing homebuilders to lay off workers or close shop. Boomers born in 1946 can begin retiring this year. Mortgage crisis continues and credit crisis begins. Chinese mkts sag 1/3 from 07 as US economy teeters. A temporary improvement appears in Q3 as the federal reserve (a private group of bankers) rate cut in Nov 07 creates balloon cash to lure more debt.If US attacks Iran, oil may see $200/ barrel and this high price may justify deleting environmental drilling regs in US by congress.Movies and TV suck as impact for the writer's strike appears.What can you do:Reevaluate your spending habits. Do you really need that latte?Pay off all debts as soon as possible.Have 2 weeks cash at home. Shift to using cash in as many purchases as possible. Seek payment for existing monies owed. Make sure you have 3-6 months liquid savings for any "temporary" market crash.Review all equity (stock) holdings esp. high risk holdings.

Channel: People & Blogs
Uploaded: January 1, 2008 at 5:09 am
Author: goldenpizza

Length: 04:51
Rating: 3.94
Views: 7987

Tags: 2008  baby  boomers  credit  crisis  debt  dollar  Economic  Forecast  inflation  loan  money  mortgage  retire  

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