| View previous topic :: View next topic |
| Author |
Message |
KevO
Expert
Joined: May 24, 2005
Posts: 2358
|
 Posted: Sat Dec 15, 2007 10:07 am Post subject: Schultz sees an apocalypse now! |
  |
|
| Quote: | NEW YORK (MarketWatch) -- The Fed flops and Wall Street is worried. But one letter veteran has been here before, not that it makes him any cheerier.
Shultz's latest letter, just in, is absolutely apocalyptical: "A financial tsunami is upon us," he says, caused by lax credit and complications introduced by Wall Street's derivatives craze.
recession, possibly depression; bank failures; exchange controls;
[/b][/i]housing prices down by 50%;[b][i] credit card company failures; money market fund dangers; tripling of U.S. jobless numbers; federal bail-outs
His advice, translated out of his shorthand style: "If you have not already done so, take immediate measures to safeguard your assets against the global derivative crisis ... Most urgent is close out time deposits, buy non-U.S. government bonds."
Schultz says "the second biggest danger is owning U.S. dollars in any form, (it) has crashed and going much lower ... use dollar rallies to exit dollars or sell short ... This is not a time to seek profits, but to protect what U have ... Portfolio diversification is essential in troubled times." |
FULL ARTICLE HERE
_________________
http://www.youtube.com/watch?v=xSFLSTb5KfU
http://www.myspace.com/jimolliermusic |
|
| Back to top |
|
 |
KevO
Expert
Joined: May 24, 2005
Posts: 2358
|
|
| Back to top |
|
|
AWPrime
Intermediate Crude
![]()
Joined: Jul 07, 2005
Posts: 678
Location: Europe
|
| Posted: Sun Dec 16, 2007 8:01 am Post subject: Re: Schultz sees an apocalypse now! |
|
|
| KevO wrote: | | so, should I sell? |
That might be advisable, even my mother is going to spend her vacation dollars soon.
_________________
Fighting technobabble and Woo Woos.
http://www.skepticwiki.org |
|
| Back to top |
|
|
KevO
Expert
Joined: May 24, 2005
Posts: 2358
|
|
| Back to top |
|
|
AWPrime
Intermediate Crude
![]()
Joined: Jul 07, 2005
Posts: 678
Location: Europe
|
| Posted: Sun Dec 16, 2007 2:17 pm Post subject: Re: Schultz sees an apocalypse now! |
|
|
| KevO wrote: | | AWPrime wrote: | | KevO wrote: | | so, should I sell? |
That might be advisable, even my mother is going to spend her vacation dollars soon. |
great!
all this on top of the very, very scary news that Bird Flu
may have gone Human to Human at
http://www.peakoil.com/fortopic34838.html |
Not such a big problem.
_________________
Fighting technobabble and Woo Woos.
http://www.skepticwiki.org |
|
| Back to top |
|
|
JRP3
Heavy Crude
Joined: Oct 23, 2006
Posts: 394
|
| Posted: Sun Dec 16, 2007 5:04 pm Post subject: Re: Schultz sees an apocalypse now! |
|
|
| KevO wrote: | | so, should I sell? |
I sold about half of my portfolio last week. After reading that, I may sell the other half. 
Not sure what to do with the cash though, I've never invested in metal or currencies.
_________________
The shovel with a wheel - The Wovel.
http://wovel.com/
Building the AMPhibian
http://amp-phibian.blogspot.com/
http://www.diyelectriccar.com/forums/ |
|
| Back to top |
|
|
underdressed
Tar Sands
Joined: Mar 26, 2007
Posts: 30
Location: L.A.'s suburban wasteland
|
| Posted: Sun Dec 16, 2007 11:11 pm Post subject: Re: Schultz sees an apocalypse now! |
|
|
| KevO wrote: | | so, should I sell? |
When I saw the dollar start to crash, I got my first credit card in ten years. I'm using it to buy gold and useful things. (I'm glad I didn't use my good credit to "invest" in a house!)
Then again, my grandfather's advice was to never take investment advice from a man who has a job. That includes me. |
|
| Back to top |
|
|
|
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
