The United States recently posted a record monthly deficit for November, 150.4 billion dollars. This is the 26th straight monthly budget deficit and November is only the second month for the fiscal year. When we add in October the deficit is already at 290.8 billion, that’s already double what the entire budget deficit was for 2001. So far for the new fiscal year, our government has spent 585.7 billion with revenues of only 294.9 billion.
With jaw dropping numbers like these it should be no surprise that bonds have been selling off, the biggest sell off in fact since the collapse of Lehman brothers.
Yesterday, Moody’s officially warned the U.S. that if it continued massive deficit spending that the the U.S. risked getting its credit rating down graded. We have already seen the U.S. get down graded in the past 60 days by all five of China’s credit rating agencies.
Unfortunately, the western debt crisis is just beginning and we believe over the next decade the global economy will be re-balancing wealth. Asia specifically is on the rise and in our opinion, its not going to stop for a long time.
Today, the financial times also reported that JP Morgan is unwinding its silver short position. This could be EXTREMELY bullish for both gold and silver in 2011.
Finding opportunities is our business, we take it very seriously and are thankful to everyone who is a member of FutureMoneyTrends.com. As promised, we will be releasing our favorite mining stocks as well as other stocks that we have found for 2011 and beyond. In October, we sent out a market alert letting you know that we were concerned with a possible short term correction. We saw a minor correction and a dollar rally. With Congress and the President working out a deal to calm investors about taxes, we believe a buying opportunity may be approaching for some undiscovered micro-cap stocks that will thrive in any economy.
We will also be releasing our 2011 and beyond opportunities article later this year for those of you who are looking for great trend investments.
For our precious metal bugs, a very important video is also about to hit the internet about silver. It’s an informational video that we have been working on for the past month. We hired one of the best fact finders in the world to present our case that silver may be one of the best investment opportunities in human history. Any data that had a reasonable doubt or questionable source was thrown out. This fact finding video about silver will be the purest silver video on the internet, nothing but the reliable truth.