1. • The Republicans made huge gains in the recent
elections. What does that mean to investors? Is Obama
now a Lame Duck President?
• The Feds announced another $600 billion spending
spree on 10-year government Treasuries. What does
that mean for stocks and gold?
• The housing market still shows no sign of recovery
with the latest drop in listing contracts.
• Unemployment numbers came in better than
expected. Strong job numbers may actually send the
markets downward. How is this possible?
• The currency war is well underway and if it escalates
this will be bad for the global community.
• What is the outlook for gold in the near and long
term?
• Are stocks overvalued at this time with the recent
huge run up in stock prices?
• U.S. banks are facing hundreds of billions in lawsuits.
Will new laws lobbied by Republicans save them?
• We have many Canadian subscribers, so of course
I will also provide updates on what is happening in
Canada as well as discussion on the next economic
Superpower China.
• Finally, we have to discuss what investors do in this
current environment to maximize returns or prevent
losses.
“The reason that stocks soared is the U.S. dollar
dropped - and stocks almost always rally when the U.S.
dollar drops – this is because stocks become cheaper to
international purchasers.”
“As further positive news for Gold Bulls, Goldman
Sachs announced the Fed could end up spending up to
$2 trillion of additional stimulus.”
Mike Lathigee
President
Las Vegas Real Estate Club
U.S. Politics Affect Global Economic Moves
issue: NOVEMBER 2010
$59.97
So much has happened since last month’s economic update. Here are just a few things that I will
discuss this month:
An integrated approach to nurturing your wealth and achieving your financial goals.
Inside This Issue:
Economy Report
Las Vegas Real Estate Club
PAGE 2: Election Results May Stall U.S. Forward Motion
PAGE 3: More Quantitative Easing from the Federal Reserve
PAGE 4: Housing Weakness Continues in Face of Foreclosure Moratoriums
And Much More...
2. The midterm U.S. elections showed there
was a stark voter rejection of President
Obama last week. Republicans seized
control of the House of Representatives
winning 60 seats, which is the largest
swing of seats since 1948. The
Republicans also gained six seats in the
Senate, however, the Democrats still
remain in control of the
Senate.
I am not optimistic
about seeing cooperation
between the partisan
groups, because in the
House of Representatives
60 people with strong
ties to the Tea Party were
elected, and I believe that
those in that party with
extreme right wing views
will have no interest in
cooperating with the Democrats. As a
result, we may be looking at American
politics where very little gets done due to
constant partisan bickering over the next
2 years. This is of grave concern given
America’s deep economic problems
coupled with the dilemma of Afghanistan
and Islamic terrorism.
Unfortunately, the American system of
democracy allows such a situation to
occur where we may see two years where
Democrats and Republicans will not
cooperate and very little gets done.
Meanwhile, China will continue
its forward progress. Its one party
government focuses constantly on
progress as opposed to the U.S.A., which
is caught up in moving political agendas
forward rather than moving the nation’s
economy forward.
In the past, I have discussed in lengthy
terms the flaws in a democracy that
gives a competitive advantage to other
countries, such as China. For example,
in the United States important decisions
are made based on how they impact the
two and four year reelection cycles of the
party in power. This means the people in
government make policy decisions based
on what will get them reelected rather
than on what is best for the country over
the long term.
In China the ruling party
is able to make decisions
based on what is best for
their country over a much
longer period of time – even
50 years or more. This has
proven to be a huge advantage
to China as it continues its
journey to becoming the next
Superpower. Remember,
China’s economy continues
to grow every year by double
digits, while the U.S. is
looking for GDP growth of
less than 2% this year.
This is a worldwide trend as many
emerging nations are experiencing double
digit growth while Western nations are
doing little better than a few percentage
points. In America we are experiencing
a slow recovery, while many countries in
the world are having an economic boom.
One possible advantage Obama may
gain from the perceived extremism of
some new Tea Party members in the
Republican Party, may come from the
fact that they may make Obama appear
to be the only calm and rational option
in the 2012 elections especially if Sarah
Palin is the one running against him.
(unlikely but possible) It is because of
these perceived radical Republicans that
I am of the opinion we are looking at a
Lame Duck Presidency for the next two
years. There is no way the newly elected
Tea Party politicians will agree with any
vote that increases the debt or increases
the size of government.
This is because Tea Party Republicans
want to see government spending cut and
the debt brought under control with less
government intervention. If we start to
see Obama move in this direction, due to
the fact that he will need to start making
deals with the Republicans, then we will
see a possible rise again in the U.S. dollar
and a drop in gold prices.
This happens because gold prices rise
as the U.S. currency becomes devalued.
Inversely, gold prices fall as the U.S.
dollar rises. Policy changes that move
towards controlling the debt will cause
the U.S. dollar to rally and as the U.S.
dollar becomes stronger, then gold prices
will fall. Also, as the U.S. dollar becomes
stronger, U.S. stock prices will decline.
In addition, the Obama Administration
has cooled down its rhetoric about raising
taxes on the rich. Obama will now need
to reach out to Republicans and find a
middle ground that does not attack high
income earners.
These are just some of the key
developments investors want to watch
for in light of the recent elections and its
sweeping Republican victories.
For instance, the bank stocks have been
rebounding since election night. This
is because the market perceives that
with the Republicans in a much stronger
position we will see new lobbying for
legislation to protect the banks.
The big losers in this recent election have
been carbon emission capture companies
and there will be no Green Capture Tax.
This is a sector that all investors should
avoid.
grow. protect. invest.
Election Results May Stall U.S. Forward Motion
“This is a worldwide trend as many emerging nations are experiencing double digit growth while Western
nations are doing little better than a few percentage points. In America we are experiencing a slow recovery,
while many countries in the world are having an economic boom.”
3. More Quantitative Easing from the
Federal Reserve
“The economy is in its present state because individuals spent beyond their means and governing institutions allowed them to do it.
The Feds believe that keeping interest rates low will stimulate borrowing and will help avoid the continuing economic slowdown.“
In addition to the momentum caused by the election, stocks
soared on the news of the Fed’s $600 billion buy back of 10-year
Treasury Notes.
The Fed reasons that such a move will keep interest rates low to
allow more time for the economy to recover. At the same time,
the Feds will be creating more demand for their U.S. Treasury
Notes and interest rates will not have to be increased to attract
buyers.
So, the Fed announced that every month it will buy $75 billion
in U.S. Treasury Notes to keep interest rates low. This is now
referred to as the “Quantitative Easing 2” Program.
But what really sent the market soaring was the Fed’s
announcement that they had the option to repeat this process.
Thus we may be looking forward to a “Quantitative Easing 3”
Program if the recovery is not fast enough.
The reason that stocks soared is the U.S. dollar dropped - and
stocks almost always rally when the U.S. dollar drops – this is because stocks become cheaper to
international purchasers. Investors liked the Fed’s announcement, because this Fed policy locks
interest into lower rates for a protracted period of time and gives the U.S. time to recover.
The Feds did this because of the elections last week. They expect the Democrats and Republicans to
be in gridlock, so they are taking economic matters into their own hands. The economic recovery has
been too slow for the American public in terms of output and employment. Therefore, the Federal
Reserve made a unilateral decision that a new stimulus is the best bet.
The reason this announcement came so suddenly is because Bernanke is sure that with the Republicans
controlling the house it was unlikely that another stimulus program will ever be passed. So, the
Central Bank simply will simply print and inject another $600 billion of money into the system and
buy long-term treasury bonds in the market.
The economy is in its present state because individuals spent beyond their means and governing
institutions allowed them to do it. The Feds believe that keeping interest rates low will stimulate
borrowing and will help avoid the continuing economic slowdown.
When the Feds made this announcement gold surpassed $1,380 an ounce and silver hit $25.50 per
ounce, this is a 30-year high for silver. Precious metal bulls believe that more bond purchases by
the Fed are aimed at driving up inflation and will weaken the U.S. dollar, which will lead to higher
consumer prices. All of this increases gold’s appeal as an inflation hedge and an alternative investment
to the greenback.
As further positive news for Gold Bulls, Goldman Sachs announced the Fed could end up spending
up to $2 trillion of additional stimulus. Given the current wins of the Republicans I disagree, but this
announcement also created more upward momentum in the stock markets.
4. Housing Weakness Continues in Face of
Foreclosure Moratoriums
“The economy is in its present state because individuals spent beyond their means and governing institutions allowed them to do it.
The Feds believe that keeping interest rates low will stimulate borrowing and will help avoid the continuing economic slowdown.“
News on the housing front continues to look grim as the
number of people who signed contracts to buy homes fell
in September after two months of gains. This is possibly
fallout from the foreclosure moratoriums, which have
disrupted activity in the housing market.
Last Friday, the National Association of Realtors said
sales agreements for previously occupied homes dropped
1.8% in September. The setback highlights the continued
problems facing the housing industry as it struggles to
mount a recovery from the worst recession since the Great
Depression.
It is very likely that some of this September weakness is
caused by moratoriums imposed by banks on mortgage
foreclosures. Banks halted tens of thousands of
foreclosures as they investigated allegations that some foreclosure proceedings had involved flawed
legal documents.
This weakness in the housing market is yet another reason for the Fed’s announcement to use $600
billion to purchase 10-year Treasury Notes as a method to keep interest rates low.
The number of deals going to contract will continue to fall as worried banks continue to slow down
or stop foreclosures. If the lawsuits against some of these banks are successful we could see them
collapse. For example, Bank of America has $375 billion in lawsuits against it, which would bankrupt
the bank.
This year we are holding an event called the Global Economic Outlook Summit. This Summit will
host several top financial forecasters and economists from all over the world. The theme of the
Summit is to understand what is happening in the world and what people should do at an individual
level to protect themselves, as well as what action steps they can take to make money for themselves.
This Summit replaces our traditional Investfest event. Tickets are $997 and if you buy a ticket your
spouse or business partner can come with you for free. This offer expires November 15th.
If you would like to purchase a ticket simply send an email to education@allianceinvestor.com and
we will send you back an enrollment form. Those who currently have Investfest tickets will still be
able to attend this event without paying the additional charge.
5. Besides watching the housing market, the
other key economic indicator that I watch
closely is unemployment. I remain of
the opinion that it is impossible to have
a jobless recovery and have been saying
that since the U.S. fell into this deep
recession.
So, on the employment front we do see
some good news. During the month of
October the U.S. added 151,000 jobs,
which is more than double, and nearly
triple the expected 65,000 jobs for that
period.
Also, September’s employment figure
was revised to show a smaller loss in
jobs. September’s numbers moved down
from 95,000 jobs lost to only 41,000
jobs lost. It was the first positive hiring
month since May of this year.
Now, I want all my subscribers to be
aware of a very interesting theory that
may or may not prove true. That theory
is that if we continue to see continued
job growth in the United States this could
actually be bearish for both gold and
stocks.
Here’s the reasoning behind my theory.
The Feds are going to spend $75 billion
a month buying 10-year Treasury Notes.
However, if they start to see economic
recovery and job growth then they will
stop this stimulus and we definitely
would not see a Quantitative Easing 3
program go into action.
An economic recovery would lead to a
stronger U.S. dollar and thus cause gold
and stocks to drop.
The market right now is rallying almost
entirely on the basis that the U.S. dollar
will continue its sharp decline. The
largest holder of bond funds on the
planet, Pimco, stated that the U.S. dollar
would drop another 20 percent.
If the announced job numbers had been
bad we would have seen the U.S. dollar
fall further and stocks and gold surge up
even further.
There have been international
consequences to a dropping U.S. dollar.
On Friday the Canadian dollar actually
was above par to the U.S. dollar.
It was only a few months ago during
the Greek Debt Crisis that we were
concerned about the collapse of the
European Union and the Euro. Now the
Euro is at $1.43 against the U.S. dollar.
Of course, all of this is causing higher
prices for food and energy. For example,
last week oil hit $86 a barrel and does not
look like it will slow down on its climb to
$100 a barrel.
The Pending Trade and
Currency Wars
But of course the side effect of all this
action is the development of currency
wars.
Tensions are growing in the global
currency markets as political rhetoric
heats up and countries battle to protect
their exporters, raising concerns about
potentially damaging trade wars.
At least half a dozen countries are
actively trying to push down the value of
their currencies. Japan is the most active,
having seen a 14 percent increase in its
currency value since May.
In the U.S., Congress has been
considering a law that targets China
for keeping its currency artificially low
and in Brazil, the head of the central
bank said the country may impose a
tax on some short-term fixed income
investments, which have contributed in a
rise in that country’s currency.
As countries around the world continue
their struggles to recover from the global
financial crisis, worries are mounting that
policy makers in these countries could
become more aggressive in protecting
their nation’s business interests. In fact,
“protectionism” is a very big concern
and with the U.S. election over, the focus
may be back on a pending international
currency war.
In one bold move the Japanese
government sold $20 billion worth of its
currency in one day to push its currency
lower. Other countries such as Taiwan,
South Korea, Thailand, Brazil, Colombia,
and Peru are taking similar steps. In the
U.S. the focus of the attack is on China,
which it says is keeping its currency at
artificially low levels in order to boost its
exports.
I believe the currency war will be led by
Brazil, because of its upcoming elections.
The major issue in that country is the
fact that its strong currency is hurting its
ability to compete. This is an issue I will
closely monitor.
grow. protect. invest.
Better Than Expected Employment Numbers
“The market right now is rallying almost entirely on the basis that the U.S. dollar will continue its sharp
decline. The largest holder of bond funds on the planet, Pimco, stated that the U.S. dollar would drop another
20 percent. ”
6. I am sure that my many subscribers, who
have listened to me over the years, now
understand why I guided investors buy
heavily into gold at $300 an ounce. I
repeated this guidance to buy gold many
times long before gold experienced the
current frenzy and buying mania. In
all cases this is something I stated you
should definitely had to discuss with
your licensed financial advisor. Many
of you profited hugely from this strategy
of buying early on and so you deserve
congratulations.
Unless we see a change in U.S. policy
that pays down the debt and curbs
stimulus programs the U.S. dollar will
continue to collapse and gold and stocks
will move higher.
However, if we see unemployment
rates improve and the U.S. dollar grow
stronger then the Feds may reverse
their thinking on a Quantitative Easing
3 program and may even call a stop
midway through the Quantitative Easing
2 program and its $600 billion stimulus.
This would see an end to the bull market
on gold prices and a huge short term
correction in stock prices.
If the economy continued to see
improving indicators then the markets
would continue to move up over the long
term based upon strong U.S. economic
fundamentals and not simply the result of
the teeter-totter relationship that sees the
market move up because the U.S. dollar
moves down.
So, for the most part I remain bullish on
a continued run up in stocks and gold,
but this can reverse course if we see
improving job numbers and a recovery in
the U.S. dollar. If we see the economy
improve the Feds will not have to take
action with additional Quantitative
Easing and this would send gold prices
downward.
On the other hand, if the economy
continues to see stagnant growth and
the Feds take additional stimulus action,
then we will see gold soar to much higher
levels.
As investors we must watch what
happens in the macro markets. We have
to be tuned into the market indicators. As
I’ve explained, there are arguments the
support gold going either way, either to
higher levels or to lower levels.
It is ultimately up to each one of us to
follow what is happening, and up to
each one of us to be accountable for our
response to what is happening. That
is why I give these monthly updates.
We are seeing complex relationships
become even more complex. That is why
I encourage you to – at the very least
- tune in each month to follow what is
happening and learn the likely impact of
events on your investing decisions.
Understanding How Macro Economics
Impact Micro Economics
For those of you who want a deeper
understanding of these complex issues,
I am holding a one-day economic boot
camp on December 10th in Las Vegas.
The purpose of the day is to focus on
global economics and based on what is
happening in the world I will discuss
what are your options that you should
discuss with your licensed financial
advisor about your own portfolio.
The one-day boot camp will discuss
macro economics and use Las Vegas as a
case study about what happened during
the recent financial crisis. The morning
will start with a tour of Las Vegas and
what is currently happening in the city to
Real Estate values. The day will end with
a tour of a specific Real Estate Project.
Tickets to the tour are $197 each and
include a gourmet lunch. If you would
like a ticket send an email to education@
allianceinvestor.com and we will contact
you with details.
The Inflation Elephant in the Living
Room
One major problem that I see possibly
happening that no one is discussing right
now is the potential for soaring inflation.
Everyone knows that the best offense to
rising inflation is raising interest rates in
defense.
But if we see inflation start to creep up,
and the Fed can’t raise interest rates due
to other circumstances, then the bond
market will collapse.
For example, no one is going to buy
a bond paying 3% if inflation is at
3.5%. This circumstance would make it
impossible for the Feds to sell Treasury
Bonds. Thus the Feds would be forced
to raise rates in order to fund the debt
by selling the treasury bonds at higher
interest rates to attract buyers.
This potential situation is not getting
much attention, but much higher interest
rates could derail any economic recovery
in progress. If we see rising inflation
then it will be impossible for the Feds
to implement any Quantitative Easing
program and the result will be an end to
any quick economic recovery.
grow. protect. invest.
Gold Again, Again and Again
“So, for the most part I remain bullish on a continued run up in stocks and gold, but this can reverse course if
we see improving job numbers and a recovery in the U.S. dollar. “
7. As I was thinking this month about the
economy I was struck by the idea that
temporary Bull markets make geniuses
of many people in their own minds. Yet,
there are always circumstances that can
change, and those altered circumstances
can cause other things to transform very
quickly.
I guess my point is that today’s genius
might have been yesterday’s pariah, and
vice versa.
For example, there is one individual
I call a Talking Head, who is always
on television promoting why gold
is going much higher. He manages
a multi-billion dollar fund and is a
former speaker at Investfest. However,
before the recent gold run his fund was
down dramatically and investors lost
a fortunate with him. At that point in
his career he was not a friend to many
investors.
Yet, now we’ve seen gold skyrocket and
he has turned into an icon of success
and is on the media everyday. Now, I
know him to be a smart guy, but I feel
he never gives a balanced answer on
the fundamentals of gold and only talks
about why gold prices are going higher.
I think investors need all the information,
not just one side of the story. Still,
having access to all the information
doesn’t necessarily mean we use it. Here
is another example of what I mean.
One widely followed Economist, who
has been wrong many times in terms of
the guidance he gives, is former Chief
Economist for Merrill Lynch David
Rosenberg.
Now, a lot of people listen to Mr.
Rosenberg, yet part of the problem I find
with his guidance is that he is too focused
on the United States. When doing his
analysis he does not look far enough.
He does not look at what is happening
in other economies. For instance, seven
weeks ago he recommended that people
sell all stocks. And of course, we’ve seen
the market perform well in those seven
weeks and is up almost 15%.
The reason I even mention this is remind
you that even high profile economists can
give the wrong guidance. Rosenberg has
done it many times, so don’t be too hard
on yourself when you are wrong.
Are Stocks Overpriced?
Stocks have seen an impressive run up
over the past seven week and investors
are wondering if stocks are now
overpriced. I would say, “Not really.”
The reason I say this is because earnings
of major companies have also soared and
the Price Earnings Multiples are still low.
If you are in stocks take some profits, but
you can maintain a healthy position as
long as we see the Feds policy of keeping
interest rates low and forcing the dollar
downward is still in place.
The United States is No Longer the
Center of the Economic Universe
In the U.S. we are seeing a few key
economic indicators that are positive.
Manufacturing numbers have improved
and retail sales have remained steady.
The double dip Recession that many
people, including myself, feared will not
happen. However, the story is still that
the U.S. recovery will continue to be very
slow.
We must now realize that the United
States is no longer the center of the
economic universe. Since World War II
the U.S. has steadily become smaller and
smaller in relation to world economic
output. After World War II the U.S.
generated over 50% of world economic
output. Now the U.S. generates
approximately 25% of the whole. I agree
that is still huge amount, but that portion
declines each year.
China will eventually take over as the
dominant economic superpower in the
world with India rising quickly to the top,
too.
Show, or at Least Lend Me the Money
The citizens of America are very upset
that Obama only focused on big banks
that assisted the large Wall Street banking
firms. Many smaller and medium sized
banks that funded small homeowners
are now out of business and received no
bailout monies. Meantime the larger
banks have been recovering by raising
credit card interest rates and squeezing
consumers, but for the most part, are still
not lending money.
Instead, they use their profits to offset
future loses on bad mortgages. In other
words, tax payers bailed them out, but
these banks don’t look like they will lend
money any time in the future. And what’s
worse, they will continue to squeeze the
very taxpayers who bailed them out, in
order to garner every cent of profit they
can.
grow. protect. invest.
Base Your Decisions on Complete Information
“In the U.S. we are seeing a few key economic indicators that are positive. Manufacturing numbers have improved and retail
sales have remained steady. The double dip Recession that many people, including myself, feared will not happen. However,
the story is still that the U.S. recovery will continue to be very slow.”
8. Protecting Jobs: In Canada the big
economic story is that the BHP Billiton
proposed takeover of Potash Corporation
of Saskatchewan will not be allowed by
the Province of Saskatchewan and the
Canadian Federal government. The
two governments felt that over time the
jobs would be shipped outside of Canada
and erode that country’s tax base. This
is a focus of my discussion on Canada
this month as this company is one of
Canada’s largest.
As a capitalist I am saddened by this
news, but as a Canadian I am happy,
because Canada over time would simply
become a shell for its commodities
and it would have no major companies
impacting the economy left. This
decision clearly sent a message to foreign
buyers that other companies such as
AGRIUM and Research In Motion are
also off limits to foreign buyers. The
message is: Canada is not for sale.
Commodities: We also see that the
Canadian economy is polarized at this
time. The commodity sector is exploding
with activity and the manufacturing
and export sector is being hurt. The
low U.S. dollar is making commodities
less expensive, due to the fact that
commodities are priced in U.S. dollars
and it takes fewer U.S. dollars to buy the
same amount of commodities.
This has caused a boom in demand with
Canada being a beneficiary. However,
the problem is that the Canadian dollar is
now at par with the U.S. dollar and that is
destroying the manufacturing and export
market in Central Canada, particularly
Quebec and Ontario. At the same time
the housing market remains flat in the
major cities like Vancouver, Toronto and
Calgary.
Interest Rates: Last month it looked
like the Bank of Canada was on track
to raise interest rates, but interest rates
in Canada will continue to stay at 1%
due to slowness in Real Estate and the
downgraded expectations of the global
economy.
The economy in Canada is running at a
slower pace than it had expected. The
Bank of Canada will only look at raising
interest rates when both the Canadian
and U.S. economies are on a sustained
and stronger recovery path. The reason
Canada bases its economic policy on
what is happening in the United States is
because Canada, which is a major export
nation, still exports 80% of its goods and
services to the United States. Therefore,
recovery in Canada is directly related to
recovery in the United States until such
time as Canada exports much more of
its goods and services to other countries
such as China.
On the Asian Front
China continues its double digit growth
and the Chinese Government is slowly
raising interest rates in an effort to curb
inflation. The Chinese economy has
completely extricated itself from the
downturn risk that emerged after the
outbreak of the global financial crisis
in 2008. The economy is growing by
10.6 percent in the first three quarters
of the year, which overshadows all
other Western countries and even some
emerging nations.
The one major problem that China is
having is due to the fact that the banks
have been unrestrained in their lending.
Despite the government’s vigilance over
credit over-expansion and the series of
measures it has taken to rein in fluidity,
the credit distribution is still on a large
scale this year, fueling excessive fluidity.
Under these circumstances, property
prices have kept skyrocketing, costs
which will inevitably be passed along
through the price of consumer goods.
The Chinese will have to take steps to
reel in this predicted inflation, make
efforts to contain the Real Estate bubbles
occurring in many cities, and rein in
excess liquidity. In America we have
seen the dire consequences when credit is
too easy to obtain and this is the potential
situation that might blind side China.
What should investors do?
Any information here should be
discussed with your licensed financial
advisor. In broad terms if the Feds in the
US continue with their stimulus programs
to weaken the US dollar then stay the
course. Agriculture and oil both make
sense due to the upward pressure of extra
dollars being created causing inflation.
Gold and silver will also continue to
move up as long as the Feds don’t stop
their Quantitative Easing Programs. I
actually prefer silver over gold as silver
tends to move up as a percentage more
than gold when commodities in general
are moving higher. The emerging
markets continue to look strong and
discussion with your financial advisor
about Emerging Market Funds that have
a currency hedge is a prudent strategy at
this time.
If you are already heavily invested in the
market begin to look at taking profits and
if you are not yet in the market we are in
a period of elevated risk due to the run up
of stocks almost 15% in the last 8 weeks.
grow. protect. invest.
On the Canadian Front
“China continues its double digit growth and the Chinese Government is slowly raising interest rates in an effort to curb
inflation. The Chinese economy has completely extricated itself from the downturn risk that emerged after the outbreak
of the global financial crisis in 2008.”
9. LVRealEstateClub.com
In Summary
The economic outlook continues
to become more complex as
global players seek advantages
to strengthen their own nations.
We will see many changes in
the coming days, which make it
imperative that you
stay informed.
For those who wish
to learn more about
the mortgage crisis
in America and the
overall economy I
just made a video
and posted it on
YOUTUBE called
“Las Vegas Real
Estate: Profit from
the Crisis”. This will give you a
more comprehensive overview of
what is happening in the US Real
Estate Market.
Please, use the comments I’ve
made here as starting points and
do your own research and speak
with your licensed financial
advisor.
No one, not even
me, can tell you
what to do because
there is no one-
size-fits-all solution
to our financial
challenges. Only
you know what is in
your best interest.
Until next time,
stay alert, trust your
own judgment and
remain flexible.
Mike Lathigee
President
Las Vegas Real Estate Club