He Who Panics First, Panics Best
It's time to panic if you have not done so already. Single file and calmly, please.
First my qualifiers. I am a self taught investor who invested for 25 years. I made more than I lost. I never did anything too exotic with options. No futures. Insurance bets, mostly. Some fantastic out of the money options for a few big scores. A lot of options expired worthless.
Since 2007, the stock market has been dead money. That's when I folded up my tent and went away for good. Bought gold and silver.
This is a zombie market. QE3 to infinity was announced today. I can honestly say, all of the foreseeable good news has now been priced in. The game is over. What is left is this. The white Obama or the black Obama will get elected.
Then the fiscal cliff arrives. We have no solution for 220 trillion dollars worth of entitlements and a 16.4 trillion dollar debt ceiling. You cannot turn an economy around with no jobs or jobs paying 9 bucks an hour. Then the Obamacare tax hits. Of course, there will be inflation which the government will do its best to lie about. Soaring food costs with five dollar gas, six dollar diesel will arrive as the commodities markets price in the new and diluting dollar. In the end, hyperinflation will occur. And the greatest show on earth will have to reset.
The stock market will eventually collapse as it becomes diluted with worthless dollars and no buyers. There are no jobs and what jobs there are- are being reset at lower salaries. The whole world is hemorrhaging and our government's only answer is to keep taking on more debt. To keep doing what we know doesn't work hoping for a different result. People are about to lose their investments. The government and the bankers will seize it to pay their debts. Eventually people will realize that they can live with out stock certificates, much like Holland learned that they could survive without tulip bulbs.
In short, I see absolutely nothing on the horizon which will end this economic fiasco. This is a battleship trying to turn in a bathtub. Be prepared. It will come quickly.
It's time to panic. Sometimes the last people don't make it out.
First my qualifiers. I am a self taught investor who invested for 25 years. I made more than I lost. I never did anything too exotic with options. No futures. Insurance bets, mostly. Some fantastic out of the money options for a few big scores. A lot of options expired worthless.
Since 2007, the stock market has been dead money. That's when I folded up my tent and went away for good. Bought gold and silver.
This is a zombie market. QE3 to infinity was announced today. I can honestly say, all of the foreseeable good news has now been priced in. The game is over. What is left is this. The white Obama or the black Obama will get elected.
Then the fiscal cliff arrives. We have no solution for 220 trillion dollars worth of entitlements and a 16.4 trillion dollar debt ceiling. You cannot turn an economy around with no jobs or jobs paying 9 bucks an hour. Then the Obamacare tax hits. Of course, there will be inflation which the government will do its best to lie about. Soaring food costs with five dollar gas, six dollar diesel will arrive as the commodities markets price in the new and diluting dollar. In the end, hyperinflation will occur. And the greatest show on earth will have to reset.
The stock market will eventually collapse as it becomes diluted with worthless dollars and no buyers. There are no jobs and what jobs there are- are being reset at lower salaries. The whole world is hemorrhaging and our government's only answer is to keep taking on more debt. To keep doing what we know doesn't work hoping for a different result. People are about to lose their investments. The government and the bankers will seize it to pay their debts. Eventually people will realize that they can live with out stock certificates, much like Holland learned that they could survive without tulip bulbs.
In short, I see absolutely nothing on the horizon which will end this economic fiasco. This is a battleship trying to turn in a bathtub. Be prepared. It will come quickly.
It's time to panic. Sometimes the last people don't make it out.
Comments
There is an equal possibility ir will grind along as our freedoms are taken away. I would prefer the reset. I'm ready either way. AE
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