From Patrick.net http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=16773&source=patrick.net
If you don't take the time to read, and internalize, every word of this brief interview, you're a fool.
Now that I have your attention (nothing like a good insult), I mean it. The interviewee - one Andy Miller - not only has the casual, matter-of-fact style that tells you he knows exactly what he's talking about (he sold off his considerable real estate holdings in 2005-2007), but he also appears to have not a hint of hesitation or hidden agenda about him; right between the horns about covers it. It's a bonus that his plain-talk style allows even a 5th grader to follow the bouncing ball. You need to read and heed.
Andy's news is grim. While there's not much new here for me - or for you if you've been actually reading the stuff I've been posting - the cold, clear way this fellow lays out the dreary facts tells me that we may not have as much time as I thought we might (before the shit hits the fan).
If you own property and have equity, dump it. If you owe more on your house than it's worth today, walk away; the banks are . If you're renting, stay put. If you have more than the FDIC-insured amount in any one bank, spread it around to different institutions to get below the ceilings. Save more and spend less - more to come on this.
Begin to at least plan where you want to land when this economy disappears in a puff of smoke. It will happen fast when it does; a matter of a few weeks. We may have a few years, or not. Caution dictates, assume not.
His 2nd quarter guess is well-founded, but the government's and corporations' desire to avoid the inevitable is strong. Personally, I think that all concerned will try to keep all the balls in the air until they run out of, well, air. Denial is one of the more powerful human traits, and the stakes here are literally a matter of economic life-and-death for a host of companies as well as the Federal Government of these United States.
Like the man says, the longer they string this out, the worse it's gonna be. Use this period of massive national denial (and delay) to make your plans. More on this subject coming soon.
also from Patrick.net
When you have the time, this little item has all the charts you need to see the mess these bastards have made
crash08 THE U.S. ECONOMY 20 REASONS WHY IT'S DYING AND WILL NOT RECOVER economiccollapse 01-25-10
http://theeconomiccollapseblog.com/archives/economic-black-hole-20-reasons-why-the-u-s-economy-is-dying-and-is-simply-not-going-to-recover?source=patrick.net
Nigel Watson freethinker 727.493.1990 freesense@Gmail.com
"It is no measure of health to be well adjusted to a profoundly sick society." – Krishnamurti
-A good pun is its own reword.
Nigel Watson freethinker 727.493.1990 freesense@Gmail.com
"It is no measure of health to be well adjusted to a profoundly sick society." – Krishnamurti
-A good pun is its own reword.
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