Ilyce Glink Show Notes – February 7, 2010
Today’s News: Stock Market Update, Unemployment Update, How to Invest In 2010 Discount
Stock Market Update and How To Invest In 2010 Event/Atlanta
The stock market is up and down. As of Sunday, the stock market was down about 7 percent from the high in January, 2010. Monday, the stock market fell further and today (Tuesday), it’s up again by over 200 points mid-day. What’s going on?
There’s a lot of confusion and concern in the marketplace and confusion + concern = stock market volatility.
At the moment, investors are worried about whether the governments of Greece, Spain, and Portugal will step up and cover those countries debts if their tax revenues aren’t enough to cover the payments.
In the New York Times this weekend, business section columnist Gretchen Morgenson wrote “To save the world from economic collapse, we transferred the liabilities of the private sector (i.e. banks) to the public and not every country can afford it.”
Morgenson then quoted David A. Rosenberg, Chief Economist and Strategist for Gluskin, Sheff & Assoc., a top wealth management firm in Canada: “We are in a post-bubble credit collapse and there are going to be periods of calm and stormy weather. Investors will have to navigate through the volatility. Unfortunately, I think we are still in the early stages, and the next recession will happen more quickly than people think.”
Join us March 27, 2010 at the Gwinnett Center for our next event: How To Invest In 2010
With this sort of volatility, it’s tough to know what to do when it comes to investing your money and planning for retirement. Join us for this special event, featuring some of the smartest investment professionals as we attempt to sort through what’s happening.
Click here for more details on how How To Invest In 2010 Event/Atlanta.
Use This Discount Code To Get 50% Off The Ticket Price: money
The discount code is only good through Monday, February 15, 2010. The discount code will expire at the end of the night, and ticket prices will go up.
Buy now and save 50 percent off the ticket price!
The official rate of unemployment in the U.S. fell to 9.7 percent from 10 percent. But, employers still shed 20,000 jobs. And, initial claims rose more than expected last week (week to week rolling claims are extremely high as well). So, is this a fluke? Or, is there some stealth hiring going on? Or, have a ton of people just simply given up on finding work and are considered out of the jobs market?
We’ll have to watch the numbers in the coming week.
9 Million Housing Units Are For Sale
If you’re trying to sell your home, you’ve got plenty of company. Nine million homes are for sale, out of 130 million total units. According to yet another report, half of all borrowers will be underwater by the end of 2011. Home prices will fall another 10 to 15 percent. Interest rates will go up, making it even tougher for borrowers to get approved.
You’d never know all this is going on, though, if you look at the stock market (see point #1 on volatility), or even if you chat with some Realtors. The first-time home buyer tax credit and trade-up tax credits are, I think, masking what is truly going on with the housing industry.
And, while the Fed says it will stop buying mortgage-backed securities at the end of March, now comes word that it might not stop buying them – or will start again if it looks like interest rates are rising too fast or no other investors are stepping to the plate.
When it comes to second mortgages, more experts are starting to point out that almost all of them are worth ZERO! Nada. Nothing. Time to write down these mortgages and move on.
President Obama’s Newest Budget
President Obama this week proposed a $3.8 trillion budget for 2011. It contains a record $1.6 trillion deficit, with $100 billion more in stimulus (jobs, anyone?) and $1 trillion in tax increases on families with income of $250,000+.
Moody’s warned that the U.S.’s AAA debt rating might suffer with the new budget. Administration officials said there’s no way that the U.S. will ever have anything other than a top credit rating.
Sure, and if everyone could print money, we’d all be able to pay our debts. (This is not a solution, folks.)
How to Invest In 2010 – 2-for-1 Discount Still Available
Ilyce Glink and Real World Seminar’s Latest Event
The worst economy in decades has been followed by an incredible 70 percent bounce in the stock market. Some economists are predicting we’ll have a double-dip recession while others think the worst is behind us. Most investors are scratching their heads, wondering “What’s next?”
Will the economy move forward or will it fall back into recession?
Should you invest in bonds if interest rates are moving higher?
Will the stock market move forward or retest market lows?
Should you play it safer or take on more risk?
For our next event, How To Invest In 2010, we’ll bring together the best local investment advisors, financial planners, tax experts and successful investors.
Together, we’ll explore this new world of investing. We’ll look at short-term and long-term investments, retirement savings and your child’s college education fund. We’ll look at stocks, bonds, ETFs, real estate investing and the biggest mistakes investors make.
So plan to join me on March 27, 2010 for my How To Invest In 2010.
We’re offering a 2-for-1 deal, or 50 percent off the ticket price.
Use Discount Code: money
You can also purchase a VIP ticket, or a special package of financial ebooks we’re creating especially for this event.
You’ll have face-to-face time with our experts who are there to share information, not sell you on a solution. And you’ll be able to get answers to your own investing questions.
So, SAVE THE DATE and join us March 27, 2010 for How To Invest In 2010.
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LLCs, Corporations, And Other Ways Of Holding Title To Real Estate. The time to start thinking about you’re going to hold title is BEFORE you buy an investment property. This ebook walks you through the different ownership options and what you need to know.
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