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Be Prepared: A Big Tax Increase Is ComingBy
Tuesday, December 16, 2008
The current economic crisis is terrible. But something much worse is going on in Washington... a nearly inescapable problem.
At the end of 2008, our government debt – ultimately paid by taxpayer money – will reach nearly $11 trillion! The thought of doubling taxes gives me the shivers... It means my son's standard of living probably won't be as high as mine. And it's not just my son who could face a decreased standard of living – it's every American.
Further Reading:
Are You on the Right Side of the World's Biggest One-Way Bet? Market NotesA POTENTIAL "MOONSHOT" IN 2009 AND BEYOND
For DailyWealth readers who believe precious metals will rise over the next few years, we have an index you'll want to watch...
As we've covered several times in the past few weeks, some of our favorite "rebound" assets are shares in gold mining companies. These stocks were hammered in the market crash... but have huge potential for gains when inflation creeps back up. The big-cap gold mining fund is up 28% since we mentioned it on December 4. But if you want even more "juice" from a rise in gold and silver, keep an eye on the S&P/TSX Venture Index. The "Venture" is the most commonly used gauge of small, speculative resource stocks... companies that can soar 20- or 50-fold after hitting big mineral or petroleum discoveries. Folks have abandoned anything associated with risk in 2008... so much so that the Venture is down 75% in the past six months. As you can see, there's no "rebound" in this index yet. But when gold and silver start climbing, these tiny stocks have the potential to be "moonshots" in the next few years. |
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