Today, December 5th, the morning news reported that the price of oil is under $50 with no end in sight to the spiral downward. "We may see $22 or $25 per barrel..." A few months ago, the price was nearing $150 per barrel and the news media was all over it saying that prices of $200 with no limit in sight were soon possible. Does this have an influence on your emotions?
What did you believe in July about oil prices? What do you believe now?
Pessimism is rampant about the stock market and the economy but there is an end in sight. Nothing goes up forever or down forever. There are companies in the U.S. and around the world that are making products that do have value. Homes do have value. The pendulum swings in both directions. Under-valued assets will correct, too.
Once all of the bad debts are purged from the system, companies will be stronger, banks will be stronger, and the system will correct. In the depths of worse economic scenarios , it has. If it does not, then there is no place safe for your money. Have faith. In the Bible, Jesus queried his audience, "...When I return, will I find faith on earth?..."
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.