How many of you have stocks? Right now you are probably checking E*Trade every 5 minutes to see HOW MUCH WORSE IT CAN GET. If you have all your saving or retirement nest egg in the market, then I am really sorry and am not making light of this situation.
Today on MSN
"A record high for crude oil and continued concerns about the health of financial stocks crushed a morning rally, extending the losses the stock market has seen since mid-July to about 6%"
"Crude oil had its first close above $78 a barrel in New York today and there was talk crude might hit $80 a barrel amid worries that domestic demand would outstrip supplies. Crude closed at $78.21, up $1.38. It was up 10.7% for July and is up 28% for the year."
I hold some stocks and saw my values drop considerably over the last four days. On other hand my houses are all increasing in value. Sure in Edmonton house prices fell $9,000 last month BUT they went up 72% over the last 18 months. House values in Edmonton are still rising; the oil sands and Alberta's stellar economy will see to that.
Rising oil prices are making the oil sands more profitable,valuable and economical. You can buy stocks and watch your savings go up an down in value losing sleep at night and security in your golden years or you can buy a tangible asset in a near perfect economy and sleep well at night.
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