Weekend Edition: $4.5 Trillion Wiped Out

Equities worldwide lost $4.5 trillion since July 26. The European debt crisis is yet again at the forefront and “investors” have been zeroing in on the PIIGS one after the other. There’s a whole menu of bad news you can choose and focus on that even the relatively positive economic data today from North America wasn’t enough to defuse the fear. I vote for a temporary soft patch with no double dipping. But that’s my guess  and it is as good as the experts’ who get it wrong themselves most of the time.

Fear is still out there for many issues such as a downgrade in US credit ratings. At this point it’s wait and see, the markets have decimated my portfolio in 3 days reminding me of 2008 when I saw some of the prices today. We’ve been there and we got out and now we’re in here and we’ll get out. When and how is up to the governments to figure it out. I will be enjoying my vacation next week and won’t be worrying about the world ending…

Economic Roundup:

Carlos Slim Loses $8 Billion in Four Days

Payrolls Rise, Jobless Rate Falls, Concerns Ease

Leaders seek to quell global anxiety

Young investors stay put amid market turmoil

Weekly blog roundup: 

Double Oil ETF – Leveraged ETF List for Oil Trading (Oil and Gas ETFs)

Canadian Oil stocks: 3 Heavy Oil Junior Producers (Canadian Oil Stocks)

Are You Spending Your Time Wisely? (Invest it wisely)

Top 100 Dividend Stocks – August 2011 (Intelligent Speculator)

Canadian Dividend Stock Selection Made Easy (My Own Advisor)

It’s Time for Another Dividend Income Update! (101 Centavos)

How to Build a $150,000 Portfolio by Age 30(Dividend Monk)

Portfolio Update: Why I Sold Just Energy (JE) (The Passive Income Earner)

The Reich Video (DIY Investor)

The College Investor’s Market Thoughts – August 5, 2011 (The College Investor)

Have a Great Weekend!