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Vote of no confidence
Effective today, I have moved the bulk of my retirement savings (401k-equivalent) out of blue-chip US equity index funds into European and Asian index funds (like Barclay's EAFE index). I'm leaving some amounts in Treasuries and small-cap US index funds, as a buffer and for balance.
This isn't just putting my money where my mouth is -- I believe that the US dollar will continue to weaken against other currencies, given the policies of the current administration. And if other countries grow tired of financing our deficits, the dollar will drop even further, possibly leading to a fiscal crisis over the next few years. All the foreign markets have to do is not sink far, and I'll still profit from them (in dollar terms).
Not that my paltry $200K will make any difference, but it is effectively a vote of no confidence in the Bush administration's economic and fiscal management...
This isn't just putting my money where my mouth is -- I believe that the US dollar will continue to weaken against other currencies, given the policies of the current administration. And if other countries grow tired of financing our deficits, the dollar will drop even further, possibly leading to a fiscal crisis over the next few years. All the foreign markets have to do is not sink far, and I'll still profit from them (in dollar terms).
Not that my paltry $200K will make any difference, but it is effectively a vote of no confidence in the Bush administration's economic and fiscal management...