Predicting the unpredictable is a good way to make yourself irrelevant. If I had been relying on these people's advice I would have been sorely disappointed, mad, and a whole lot poorer. Free financial advice seems readily in the offing, and that begs the question...What is it really worth?... Speculating with your life savings with free advice, no matter how authoritative, can lead to disastrous results, especially when you ponder the results of the experts' results quotes below.
BIG SURPRISE - 13 Wall Street bond market forecasters
predicted on 12/20/10 where the yield of the 10-year Treasury
note would be on 12/31/11. 12 of the 13 strategists believed the
yield, which was 3.29% as of 12/31/10, would be at least 3.50%
as of 12/31/11. The actual 12/31/11 yield was 1.88% (source:
The 1.88% yield is pitifully low considering what the prices are in the grocery stores, the gasoline pumps, and many areas of our necessities. The government indexes omit food and other items in the so called market basket that would show the real rate of price increases. 2011 showed a 4% C.P.I. (consumer price index) increase year over year.
Inflation tame, but consumers pay more
U.S. inflation pressures eased a bit in April, the government said
May 15. Prices climbed for many basic items, from bread and milk
to coffee and fresh fruit. But other costs declined. (Source: MSN Money)
Tell the average shopper in the U.S. that 1.88% interest on the savings or treasury notes is a fair amount based on what they have to pay out of their pay check everyday, and you will see how disingenuous the cost of living figures really are as they are portrayed by the Dept. of Labor and other government agencies. I think we are being duped by the consumer statistics.