People often ask me where the economy is headed.
Isn’t it obvious?
Here’s the scoop:
1. The world runs on credit – and not just credit cards
and mortgage loans. Shippers, manufacturers, miners,
retailers, farmers…they’re all dependent on credit.
2. The credit markets are still in disarray and the structural
problems are on an epic scale
3. The only reason the credit markets are functioning is
because they’re being propped up by non-stop government
So you tell me…
If you pay a visit on a friend and he has eighteen
tubes in him and is on a ventilator, how healthy
do you think he is? What do you think his prospects are? ?
My recommendations are simple:
1. Stop buying junk
2. Don’t make any purchases (real estate especially)
that requires credit
3. Save every nickel you can
4. Stay the f*** out of the stock market and other
5. Make sure whatever cash assets you have are
distributed among several financial institutions
that have the highest possible rating
6. Learn to cook healthy food – grains and greens
7. Remember there’s a lot more to life than being
A conversation taken straight from the
Chicago Board of Trade.
These guys know the credit markets, they know
what condition they’re in and they know what will
happen when eventually the second down leg