Oh…and here’s something else to reckon with. New home sales took a dive in October. The FHFA has confirmed a “double dip” in the homing market. Prices are weak everywhere and falling in some areas.
And if you leave a house vacant, squatters might move in. Talk about complications! The house next door has been foreclosed. But the paperwork was fraudulent. Who owns it? So who’s got the right to expel the squatters?
Don’t worry about it. It will work its way out somehow.
*** And on the other side of the globe, they’ve had enough too.
“Russia and China Ditch the Dollar,” says the headline.
It was inevitable, wasn’t it? The two said they didn’t need no stinkin’ greenbacks to do their bi-lateral trade. They can work it out perfectly well in yuan and rubles.
Besides, with the Fed undermining the value of the dollar, who wants to hold it? You could have a few hundred billion one day. And then, the next day you discover that you’ve lost $200 million – just from holding the wrong currency at the wrong time.
The Russians and Chinese won’t be the first. And not the last either. Gradually and suddenly, the world will drop the dollar.
Eventually, Americans will drop it too.
*** “I don’t know if I want to be a doctor,” said Henry, back from college for Thanksgiving.
“I like the theory and the science of it. But now it’s extremely regulated and controlled. And nobody seems to know what the new health care system will mean or where it will end up. I don’t know if I could live with the paperwork.
“I’m thinking about sticking with physics.”
for The Daily Reckoning Australia