I am very satisfied with my portfolio update for September. Oil is certainly helping my portfolio at $81 a barrel right now fueled by a dropping USD and increased risk appetite. As always anywhere above $70 is great for my portfolio. The emerging countries are taking over the slack of the USA and I am exposed to all those economies by holding energy stocks operating in my beloved Western Canada.
Manufacturing Sector Grows
While the US economy is struggling with 10% unemployment, the Chinese economy is on track for a staggering 10.5% growth for 2010. China has become the main engine of growth for the global economy which is set to grow at 4.5% for 2010.
No wonder tensions have been running high between the US and China. China’s currency is unfairly cheap and the US has started to take steps that could open the doors wide to tariffs in order to help US companies compete.
Further reading on the economy:
US Is ‘Practically Owned’ by China
On to our weekly blog roundup:
The Wealth Artisan: Use What You Can Lose