03-19-2009, 07:05 AM
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Confirmed User
Join Date: Mar 2008
Location: London, Saint-Tropez, Bermuda, Moscow
Posts: 5,289
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Bernanke Inserts Gun In Mouth
Quote:
In the meantime, for however long this rally in the market lasts (and it might be a while if the sheeple misdiagnose what's coming - if the newsletters I've seen thus far this evening are any clue, most people have) use it to raise cash and be prepared for some really tough times.
I have been singing this song - raise cash now - for quite some time. Let me be succinct - it has been my considered belief that you need enough in liquid cash - not credit access in the form of credit card available balances or anything similar - for at least six to twelve months. I'm upping that here and now to twelve to twenty-four months - that's right - one to two full years of "minimum necessary to make it" expenses. Figure out right here and now what your minimum "monthly nut" is, and raise 12-24 months of that much in safe, liquid funds.
That's a minimum; if you can in fact have enough available to be able to execute a "bug out" plan where you are able to become effectively self-sufficient on short notice (a couple of months maximum) if necessary, that's even better. Yes, we're talking chickens, goats, enough arable land to grow what you need to survive (bartering for what you don't have with what you do) and the means to defend it. If you live in a big city consider carefully what you intend to do if unemployment goes north of 20% and the city effectively goes feral - if you're interested in "how bad can it get" go drive through major parts of Detroit - bring an armored vehicle for your tour and/or at least semi-automatic weapons.
There's an ill-wind blowing and while this storm has not yet reached the shore, I'm putting up the plywood.
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Read it all at the link below. I know half of GFY has the attention span of a nat, but still -- READ IT!
http://market-ticker.org/archives/87...-In-Mouth.html
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