Today....we get a rather grim look at the world!!! Grab hold of something tight as our world is about to get rocked. It would appear that this Greater Depression is only at the earlist stages. IMO, I can easily see the DJIA falling below 3000, the NASDAQ below 1000 and the S&P 500 below 300. There simply is no support whatsoever except for Government handouts. Unless we get involved in a World War or simlar disaster we are finished. I seriously doubt that the current White House administration and current Congress would be want to see any real recovery as Rohm Emmanuel so eloquently put it: “”You never want a serious crisis to go to waste”. Anything to solidify power and establish a more totalitarian state would not really be that surprising. Look at how the US changed under FDRs “economic crisis” of the “Great Depression”. We have institutionalized welfare state programs that the country could never ever fully pay for, ultimately leading us to the current mess we are in today many decades later. Today the world stock markets resumed crashing and the outlook is in a word “grim”:
World Indices look a little ragged this morning:http://biz.yahoo.com/ap/090302/world_markets.html
US and EU market indices portend one ugly opening and perhaps a continuation of the Stock Market Crash as this Greater Depression intensifies:http://www.bloomberg.com/markets/stocks/futures.html
The only market gaining strength this morning is of course the precious metals. I would definitely suggest that people get well positioned into the precious metals and prepare for many years of self reliant living. The last “Great Depression” lasted over 11 years before the Second World War, and this “Greater Depression” has the potential of bringing the world economy to utter and complete collapse. I believe that we have miised every opportunity to turn this sinking ship around and are now passed the tipping point. Man the “golden lifeboats”! should be the rallying cry from the bridge. I just for the life of me don’t see how it is possible to keep the global economy afloat any longer.
We can only look out for “number one” and protect ourselves and our families. Most of us have taken precautions and yet I wonder if it will be enough for the “Brave New World” we must face. I am intensifying my efforts to prepare beyond what I have already done. As always, “get out of debt and stay out of debt, stash enough cash for several months household expenses, accumulate silver and gold “porfolio insurance”, and beef up your longterm nonperishable food storage and supplies of basic necessities.http://www.bloomberg.com/apps/news?pid=20601057&sid=aOsz2ViSAxPQ&refer=futures
Just the FACTS.....
It is sunny here in Arizona...lol Garden's doing good too...