This is laughable. I can't believe some people actually believe it will get this bad. Think of other economies around the world that have declined/collapsed (think Russia). Times get tough but by no means does it become a third world country... The very idea that some bears think the USA will turn into a third world country overnight because of this recession literally makes me laugh out loud.
I sincerely hope you don't put any actual money down on this wager...market bets or otherwise. China has continued to grow its economy through this whole mess... China will absolutely be the #1 economy in a matter of years, betting against it will cause you to go broke.
I've heard people ask you this question but have never read a response from you so I will ask again: What exactly are you personally doing to prepare for "the reality that is unfolding"?
You got to chill out ByLo... Imagine you're in a crowded stadium packed with 60,000 people. You walk out of the bathroom, and you see a plane, on fire, heading right for the stadium. Do you immediately scream "incoming!" or do you wait to get near the exit before you say anything? My point is why be so motivated to spread the bad news? Those of us that have it figured out are preparing, and honestly, we don't need the downturn to accelerate by panicking the masses. That accomplishes little other than making things get worse faster. Personally, I'm glad to see that people make fun of doomers. It ensures that the collapse doesn't happen as fast, and gives me more time to prepare. No sense in crowding the exits. Only so many will get out in time. And I don't mean just trading. When you see geologists w/ phDs that consult for Oil Companies and China and are now living on communes raising all the food they eat with others that are like minded... you have to wonder what the future holds. And that will be my last doomsday type post. No need in spreading the word - very few will benefit anyway, and only greater harm will come of it. I hope there are many people out there that will laugh at me. It will make me feel like the shyte won't hit the fan as fast as I fear, and give me more time to prepare the farm... Peace! PS - the only reason that I could be wrong is not that the economy miraculously turns around (it won't.. the debt numbers are inescapable) but that Bernanke et al do a marvelous job of crash landing this economy like that pilot recently did in the Hudson River. A freackin miracle. Remember, it's not enough to navigate the plane safely, but to keep the passengers calm as well. You tell them what they need to hear. Think about it.
Misthos wrote ""Do you immediately scream "incoming!" or do you wait to get near the exit before you say anything?"" ROTFL!!!! THAT is funny! and what if you saw a giant flaming "SCHMEKUS" inbound, mmm? ROTFL!!!!
Misthos are you short now? Bylo doesn't even trade so he's not worth asking. I ask because after being a raging bull for 6 months I got short last week at ES 1009
Can't find a definition for "schmeckus"... must be slang (I like the term) ... little help, here? Let me guess.. Nanci Pelosi... she's a schmeckus, right?
Not yet, but very soon. Yours could be a great call. I'm a little conservative and like to see more momentum... today's action is interesting.
Few things happen over night but the reality is that the US is already a 3rd world country, which I define as having a large practically uncloseable gap between the rich and the poor.