It's amazing how many times in the last few months it has been said to me that I should bail on my house and let it foreclose because the market is so upside down.
People are so pessimistic right now, I have never experienced anything like this. Short of turning off the news for six months, the only good thing I got to offer is that if we all continue to focus on the negatives it will make them happen.
We all need to chill the hell out. Wait and see, yet make preparations. Buy freeze dried food and ammo, seeds and medical supplies and books on how to use them. Spend money, don't horde it.
Check out some of the scary charts on this site;
http://www.marketoracle.co.uk/Article3570.html
" When US homeowners default on their mortgages en-mass, they destroy money faster than the Fed can replace it through normal channels. The result is a liquidity crisis which deflates asset prices and reduces monetized wealth, says economist Henry Liu. "
It doesn't have to be A Vicious Circle ending in a Systemic Financial Meltdown.
People are so pessimistic right now, I have never experienced anything like this. Short of turning off the news for six months, the only good thing I got to offer is that if we all continue to focus on the negatives it will make them happen.
We all need to chill the hell out. Wait and see, yet make preparations. Buy freeze dried food and ammo, seeds and medical supplies and books on how to use them. Spend money, don't horde it.
Check out some of the scary charts on this site;
http://www.marketoracle.co.uk/Article3570.html
" When US homeowners default on their mortgages en-mass, they destroy money faster than the Fed can replace it through normal channels. The result is a liquidity crisis which deflates asset prices and reduces monetized wealth, says economist Henry Liu. "
It doesn't have to be A Vicious Circle ending in a Systemic Financial Meltdown.
Last edited by ATG (2008-04-24 22:52:16)