The Killing Fields
In the current economic Killing Fields, the culprits are being identified as the CRA, and it is thought by some that they themselves are the ones that need to be killed.
Finger pointing the blame on where the mess got started is not only an academic exercise, but hopefully an attempt to “learn from the mistakes of our history”.
Either way, it will be of little consolation to many trapped in the web of despair.
By most conservative estimates, the worst is yet to come.
Today’s elderly population, many who have previously considered themselves immune to the financial crisis, are also being caught in the economic downdraft as well.
It is also being discovered that Health care, also once thought of as being immune to economic climate, is no longer a safe harbor.
Bankruptcies and foreclosures are hitting 25 year highs, and critical mass is approaching.
Staying solvent and making forward progress financially will be difficult for the masses for the foreseeable future.
Some still think the government is our salvation.
Lots of luck with that.
Creative and resourceful thinking, along with responsible acting, will be the required characteristics of the small minority of individuals who find ways to capitalize in this current environment that is just now being categorized as a recession.
The “D” word is starting to get thrown around behind closed doors, and if we are to survive, as well as thrive, we are going to have to face the reality of the situation.
One of our favorite Stock Market analysts, Kevin Haggerty, suggests that we are in a Secular Bear market that will last until 2018 to 2019.
If this is true, there will be plenty of bounces that will rocket long and appear to be the “bottom”, only to flame out and fall back to earth.
Learning how to play the market in BOTH directions should be part of the strategy for anyone interested in prospering during this black hole we are facing.
Personal Finance Blog
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