Dollar Reserves Slipping
Absolutely all markets marked time and moved sideways today. No big ups and no big down. Even markets need R&R sometimes.
In the news today……
US Dollar Reserves – worldwide have slipped from 80% of all reserves in the world in 2002 to 64% today. Why the slippage? Two reasons – first the Dollar is worth less, and second countries have diversified out of the Dollar. I’m reporting this just to prove with numbers that the US Reserve Currency status is going away, and without a new treaty. Just believe it, and act accordingly. As nations move away from the Dollar, the Dollar will continue to weaken.
Median Home Price – declined in the US last quarter according to the National Association of Realtors. The median value is $177,900 (for what that’s worth knowing) and is 11% below 12 months ago. Ft. Myers FL saw its values plunge 40% over the past year, and Las Vegas fell 35%. Prices is Cumberland, Maryland (if you know where that is) ROSE 19% over the past year. Remember that the US Government $8000 tax credit program distorted this market, and this program is being extended through April 2010.
Here are the last numbers for today:
Dow Jones 30 Industrial – 10,247 (up 20 points)
10 Year Treasury Bond – 3.48% (no change)
Euro – $1.4985
Gold – $1102 (up $1)
Oil – $78.76 (down $0.67)
Gasoline – $1.98 (no change)
