Update on Inflation

July 11, 2008, I warned in my article "Hyper-inflation coming soon!" that we're about to experience some serious pain with regard to the USD and the American standard of living. Six months later, we're in the midst of serious financial turmoil, Wall Street investment banks have either gone under or converted to traditional bank status, thousands have lost their jobs with many thousands more to come and the value of our USD sunk 20% in the last year.

With all the gloom around us, sometimes it's nice to share a little humor. So, here's a picture that made it's way into my inbox from my uncle. We'll just have to learn to enjoy the ride!

P.S. One may surmise that all the bubbles have burst, but there's one more to go: treasuries. Compare the current treasury bubble (dollars) with the housing (2007), internet bubble (2000) and commodity bubble (2008). One of the many adverse effects of a burst in the treasury market will be a loss in value for our USD. You can protect against that by investing in gold and currencies, especially. If you'd like help with that, I'll soon be authorized to take on new clients through my financial advisory business, McHugh Financial LLC. More to come…