Tuesday, June 24, 2008

Must Read!

Somewhere I found this excellent article. Read it. Like right now.
http://www.321gold.com/editorials/macfarlane/macfarlane062308.html

We are in deeper doo-doo than I thought. I started the day researching an article on the economy and came across this gem. This article explains a lot of what's wrong with the economy right now, and gives us a fairly straightforward idea of what to expect.

I just cashed out 2 weeks of vacation in anticipation of my Class A LTC coming in the mail soon. I need to sit down and break out my preparations int a plan with definitive phases. Once I have the plan, then I need to stick to it. I have already begun in reducing the amount of $ I am spending in order to save for a financial disaster. I slacked off to much at work to research the original post I was going to write so I need to bust my hump for the rest of the afternoon to make up the work.

I'm not suggesting we panic, I am saying we need to keep doing what we are already doing. Don't let the direness of the situation drive you to do something silly, like take out an equity loan for canned goods and shotguns. Keep an even keel, but keep an eye on the horizon for the Storm.

3 comments:

Bustednuckles said...

I read that earlier today.
If you haven't seen this next one, sit down when you read his predictions for the bank failures he sees coming,

http://realestateandhousing2.blogspot.com/

riverwalker said...

It looks like the slow downward spiral of our economy is speeding up!

Staying Alive said...

Dear TEOTWAKIAIFF,

There are 3 basic ideas for dealing with money. There is a Dragon approach which means to
spend every f'ing dime you get your hands on cause it won't be worth as much tomorrow. There is the cash on hand approach which means keeping cash on you or near you and not in the bank. And then there are those who still advocate some sort of investment program.

I advocate investing in land and TANGIBLES. Use money to get out of the system while the morons still take it for payment. Stay away from stocks and bond and all that stuff. AND FOR GOD'S SAKE DON'T PUT IT IN THE BANK.

It's a hard call. Think your situation out in peace and quiet.

Michael