kman, I hope for the best, and plan for the worst!
Since the summer of 2007 I've been reading about the events that now unfold before our eyes.
The events weren't covered by the Big Press then - and only a handfull of weirdo's predicted the future.
It's easy: Count all the debts our countries (=we) made and try to figure out how it can ever be paid back.
When you dig deep into the internet you will find the first warnings were already given in the late Eighties and increasing towards October 2008.
So, in fact it have been all predicted long ago. Of course many mistakes and false assumptions have been made, but the bottom line was the same: This excessive lending and spending had to stop one time.
The gloom&doomers were laughed upon and absolutely not taken serious. I tried in many instances to persuade friends and relatives on the seriousness of what was coming, but all turned their heads and laughed. This was long before the main press 'discovered' this news topic.
In the fall of 2007 I decided to get ready for the future. I sold all my stocks (not much: 40x dell and 20x Cisco), paid my debts, bought some gold/silver and stocked commodities (food).
Some things I couldn't change. 15 years ago I had to buy a life insurance together with a mortgage. This insurances should pay me 77.000 euro's at the end of its life time (now in 15 years), but this spring I got a letter that the maximum amount will be 44.000 euro's. So I already lost 33.000 euro's on this f@cking insurance!! And that was before the 2008 Market Crash!
Now many of my friends and collegues have the same problems. Okay, we don't need to deny us anything now, but I my pension is partially smoked.
When I do my calculations on the debts, loans, and all the other strange financial vehicles that have been made up, I can only conclude that we are heading for disaster. Hey, and I know only the very basics of economy! (=lending money is expensive/save before you buy).
Hopefully it will all pass soon, and I will be left with a ton of combat rations.
