Dr. Kris'  Instablog

Dr. Kris
Send Message
Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Market Notes: Should You Send Your IRA To A Distant Shore? -- October 4 0 comments
    Oct 4, 2013 4:19 PM

    Market Notes The downward slide in the Dow Industrials seems to have found support at the psychologically critical 15000 level. But unless Congress can come to a budget agreement and raise the debt limit, I don't think this level will hold. The elevated VIX means that investors are far from certain that an outcome is imminent and we could see the mighty Dow retest its late August low of 14760--and soon.

    Let's hope that Congress will be able to work out a budget deal and raise the debt ceiling, but what if they don't? PIMCO's bond guru, Bill Gross, was quoted recently as saying the probability of the US defaulting on its debt is a million to one or even a billion to one. But CNBC's market madman Jim Cramer thinks that it could be as low as four to one--and that's scary. If the US can't meet its debt obligations, it could raid your savings and retirement accounts in order to pay its bills. I do think that investors should strongly consider putting part or all of their retirement accounts out of easy reach of the government by transferring them to a foreign entity along with diversifying into foreign stocks and currencies. (See this article for more info.) If you have a lot of cash tied up in American dollars, you may want to diversify that into a physical basket of foreign currencies and keep these currencies tucked away in your fire-proof basement safe. I'm truly hoping that the worst case scenario does not play out, but I'd rather err on the side of paranoia than be left with an essentially worthless retirement account denominated in devalued dollars.

Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Coal play: Coal etf $KOL now +100% since mid-January. Here's a summary of today's major market action: http://tinyurl.com/cxmt4fo
    about 7 hours ago
  • Yahoo Finance replacement: Check out Nasdaq.com. Ima likin' it.
    2 days ago
  • Steel case: $AKS (+10%) & $X (+7%) jumping to new yearly highs. Steel etf $SLX also on track to close at new yearly high.
    3 days ago
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.