My strategy is to stay employed, keep earning cash, and stay the hell out of the stock market.
I reply that you have a reasonable strategy IF “cash” means you are converting money into physical gold, or some hopefully safe form of currency (Euros? Yen?) instead of dollars.
However, if you are currently holding your money in cash dollars then you ARE the personification of those I described in original post; typical American being scammed for your money by Those in Power.
Consider just one of the many con’s that the Bush administration ran on the American public.
They fooled Americans into thinking we’re getting smaller government and tax cuts, when in fact they raised (future) taxes, mssively increased spending, and sacrificed the dollar in order to pay for their wars, divert dollars to drug companies under the guise of Medicare “D”, and also help the rich get richer.
Oh, I forgot to mention their bailing out their rich banker and investment friends on Wall Street (with our money!)
The Bush administration increased the total debt obligations of America to about 53 TRILLION (not including the most recent additional bailouts)
So the Game they are running is that they paid for all of that by effectively sacrificing the spending power of the dollar, which will decline by say 90% (or more!) during the next five to ten years.
As Marc Faber said in a classic quote about the state of America:
Buy a $100 US bond and frame it on your wall to teach your children about inflation by watching the US bond value diminish to almost nothing over the next 20 years.
Oh, yes, he IS talking about what will happen to your cash dollars, not just US bonds.
But it may happen a lot faster than 20 years.
Marc Faber also says “Be sure to keep your gold in a safe place OUTSIDE the United States!”
