Lots of people have called me a “lunatic”. So, I am used to it. Mostly it’s been “pessimist”.
I’ve just been in the investment world since the late 1970’s. I’ve seen most everything, except what we’re seeing now. This is by far, the worst. I doubt we’ll really need to have fortifications of food, water, etc…but what’s the cost of this stuff? Not much, so why not do it? At an earthquake or any natural disaster could always wander by. Ya never know. Again, very little at risk to have food and water, etc…
But, I feel sure that we will see the DOW between 5000 and 7000 in the next 12 months. And that houses will be priced at a ratio of 1:3 for incomes in the next 4 years. And that we’ll see unemployment in the high teens within 24 months. We were headed to this in 2002, but Greenpants elongated it until 2007. And now there’s nowhere to run. It’s payback time.
I will continue to short the market when it’s exhausted it’s run up. And buy when the indicators tell me we’re through going down. That’s all. Beats working for living.
