Yup, that about sums it up. This sounds a lot like that list I came up with a few months ago, on how to tell whether we’re really having an economic recovery or if it’s just lip service. We keep hearing about how everything is just peachy, but until you start seeing real recovery at the fundamental level, all they’re trying to do is get you to foolishly invest in the markets. Somebody has to buy the worthless paper that the people in the know are selling. Don’t fall for that trap.
Invest wisely in real tangible goods.
The media can play all the games they wish. Just keep firmly in mind that:
1. Towns are broke.
2. Cities are broke.
3. States are broke.
4. Main Street is in dire pain.
5. The apparent improvement in the financial industry is accounting smoke and mirrors.
6. Most corporate improvements are not sales driven but cost cutting based. You can also call that “firing the help.”
Greece or any state of the United States that goes under must be supported by QE to infinity as a country bankruptcy of the Iceland type will sweep across the Western World faster than Lehman Brothers locked up the credit markets.
This is no time to be swept up in the short term noise. Keep your eye on the ball.
All Fiat money is in a race to worth-less-ness. Only gold will protect your financial position.