I have followed Roubini for years. He and his partner, Stetser, are very sharp. They have been pounding the table for years, anticipating what is happening now.
I certainly don't think we'll become a nation of homeless beggars, but I definitely think there is a lot of risk in the financial system at this time.
So I do what I think is best, and run for cover.
What to do:
Government bonds and gold are the classic ways to protect oneself as are short term US Treasuries. Some will say that Treasuries are deadly compared to gold and other currencies and are a wonderful way to buy into a declining currency, but I am not so sure. The buck is doing a lot better now and will do OK if it hits the fan globally since, despite our flaws, we do offer safety.
The Yen and the Swiss Fr., too, though I am thinking that the Franc might be too linked to European economies and the silly-ass overbought Euro and thus prefer the Yen.
And, of course, fight back using SRS and SKF and make some money out of the madness. |
