I apologize in advance I'm cross posting this on my 3 blogs...it's just too important. Please note this is just my opinion, and I'm not an investment professional.
For months the government, investment guru's etc. have been claiming the economy is recovering.....I call Bullsh!t! The economy is going into convulsions.... unemployment is at 17-20%, insiders (CEO, directors etc.) are selling off their assets, and banks are continuing to fail. Even the ISM (Institute for Supply Management) tried to paint a rosey picture with a positive statement:
(Tempe, Arizona) — Economic activity in the manufacturing sector expanded in September for the second consecutive month, and the overall economy grew for the fifth consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.
But the important numbers PMI, Production, New Orders and Employment all showed multi-monthly CONTRACTION. If these areas are contracting...where is the recovery?
Foreclosures and Credit Card defaults continue to record levels.
A great explanation of the Employment numbers and how the government lies about the numbers without actually lying is explained HERE.
Ok so I have painted a bleak picture, but I'm not the only one.
What to do?
If you aren't moving from the market to cash, silver, maybe a bit of gold (those little 10th ounce peices are easy to lose), and barter items you are going to be hating life come 2010 (or sooner). Since we are into fall and heading for winter, many are already making like a squirrel and stocking up. I recommend if possible, to double down on this mentality.