Hogwash.
What did you do today?
I got up and went to work.
So did virtually everyone else.
We have an economy of productivity.
We’re all working.
Some assets just lost their value.
Get over it.
We’ll be product, the paychecks will come, and we’ll spend them.
Some speculators lost lots of money. We taxpayers will unfortunately bail them out.
Big hit. We’ll keep on going.
Chill, have a beer, and go to work on Monday.
I’m going to guess that the only way to position oneself during this collapse is to buy gold, silver, and other metals.
Just guessing based on the source of the article’s site.
While I don’t believe the economy will collapse in September, I do think there will be fewer charges of ‘chicken little’ for those who do this time.
The credit markets could possibly collapse 9much, much less likely after today’s action), and that would send us into a deep recession, but we’re not going to starve and die and live like Road Warrior. The single biggest danger (to invoke FDR) is giving in to panic and fear - and tripe like this seeks to foster such fear.
Your best investment is to pay off your debt. I don’t care what the market is doing. 10% on every dollar paid off of my Amex, 6% off my car, etc.... etc.
It’s worse. I heard there is an inherent flaw in all computers and embedded controller chips such that at midnight on New Years Eve, those devices will stop working.
Death! Famine! SMOG! will result!
Oh, wait.
Nevermind.
Jeez, next thing they’ll be meeting a Jekyll Island and creating a whole new banking system, or worse, get together behind closed doors in Philadelphia and creating a whole new government.
The session was about UFOs and ETs.
Do to the high price of aluminum I sold all my tinfoil hats for a big profit. So I guess this article isn’t for me.