Stick with Gold and the Oil Stocks

Apr. 02, 2009 4:46 AM ETGLD, SLV, TM, COP, CVX, XOM, EQNR, BP48 Comments
Michael Fitzsimmons profile picture
Michael Fitzsimmons

Americans awoke yesterday morning to scenes of G20 protests in London. There was literally blood on the streets. The talking heads on CNBC scoffed at such “anarchy” and discussed the unmitigated audacity of the common man on the streets to protest in such fashion. I don’t support the smashing of windows, destroying of property, or taking of hostages but I can’t say I’d be beyond tossing an egg or tomato at the bond rating folks at Moody’s, S&P, or Fitch. If I saw Joe Kernen on the golf course, I might even aim a 2-iron in his direction. Of course Joe wouldn’t admit it, but look how he supported policies over the last 8 years which resulted in the biggest decline in US capitalism and democracy in the over 200 year history of the US. Yesterday morning, he even gave himself the title of “capitalism enabler”. What a joke. He’s never produced anything worthwhile in his life unless you own a hot-air balloon.

The CNBC celebrity stars acted as though such protests aren’t possible in the US. Certainly over the past 30 years Americans have lost their zest for protesting in spite of the many reasons why they should have. However, as more and more Americans lose their jobs (and their healthcare along with it…) we just may see more public displays of discontent. After all, if you can’t feed your family or keep a roof over your head, what do you have to lose? Desperate times call for desperate (drastic?) measures. More and more Americans are becoming wise to the fact that US policymakers have been funneling huge sums of money to the ultra wealthy while the middle class tax-payer picks up the tab. They are tired of seeing huge deficits rung up while getting nothing tangible in return (no health care, education, or infrastructure for example).

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Michael Fitzsimmons profile picture
Technology stocks, ETFs, portfolio strategy, renewable energy, and O&G companies. Primary goal is growing net-worth. I typically allocate a portion of my own portfolio and devote some of my SA articles to small and medium sized companies offering compelling risk/reward propositions. I am an Electronics Engineer, not a qualified investment advisor. While the information and data presented in my articles are obtained from company documents and/or sources believed to be reliable, they have not been independently verified. Therefore, I cannot guarantee its accuracy. I advise investors conduct their own research and due-diligence and to consult a qualified investment advisor. I explicitly disclaim any liability that may arise from investment decisions you make based on my articles. Thanks for reading and I wish you much investment success!

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