So recently there have been some pretty wild assertions made about the US dollar. Wildly pessimistic.
Time has wondered if the Dollar Is Doomed? and suggested that it is definitely In Danger. Investors listening for a show of confidence in chairmen Bernanke's words today didn't hear a positive message where the dollar is concerned.
I am not sure that I'm ready to convert my IRA into gold coins, but definitely it is time for the prudent person to be very very concerned about the dollar, i.e. about inflation.
If inflation hits hard and the dollar loses big, you can bet your Zhu Zhu pets that all the plastic toys and must-have fashions people are snatching up this Christmas will be of little consolation.
American-style consumerism is so related to poor financial choices -- individual and national -- that I am going to be writing from time-time about the economy and finances. I am interested in exploring a wise course of action for the average American. Million and billionaires will weather inflation. But average folks struggling through the American middle class will be hit extremely hard. I sense they need better financial advice than, "Save for retirement," at least at this time in our nation's economic history. I'm on the hunt for that advice, and will share it here.
For now, here's some obvious counsel. Don't buy pieces of plastic with plastic.
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