Friday 26 June 2009

Q&A: Swith from Oil to Gold?



It's reported the highest saving rate in the US in 15 years and the highest credit card charge off rate ever (10%).

Nouriel Roubini estimates that US savings rate could rise to 10% or more and Nobel prize winning economist Phelps thinks it could take 15 years for households to rebuild their wealth. US and the world is still deflationary.

In order to store wealth, wait for the break out again like last October before the switch from OIL to GOLD.

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