Not soon, I am afraid. Okay, I have been doom-and-gloom for a long time. I am just the messenger here, so do not shoot me. Yet now I look at what many economists are saying in terms of where we are and where we are going and I think, generally, they are right. Nonetheless folks, this is a very important piece for you to be reading. You will not like it or want it, but it is time to face reality. We are down for the 10 count. By many predictions we have 3-5 years of recession (despair) ahead. Personally I am now worried about a 5-10 year scenario. The news gets worse daily and the odds of a severe long-term depression grow better daily. Don't believe me, do your own study. The stats are out there.
Meanwhile, here is what some prominent economists told the NY Times when asked to predict the future. Not too far off from where I am.
IF YOU BELIEVE ANYTHING I HAVE EVER TOLD YOU (SERIOUSLY), BELIEVE THIS. IT IS TIME TO HUNKER DOWN. PAY DOWN ANY DEBTS AT HIGH RATES AND PRESERVE CAPITAL OTHERWISE AT ALL COSTS. UNTIL YOU KNOW THIS HAS TURNED, THE MORE CASH YOU HAVE ON HAND THE BETTER. CASH IS KING. PLEASE, PLEASE HUNKER DOWN. YOU WILL THANK ME LATER.
Disclosures: None
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2 comments:
Have you been drinking, again?
With the signs as they are you would be foolish not to.
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