Letter: Watching a Snake Eating its Own Tail

Mr Rawles,

I’m reminded today of a line from your Patriots series describing the crunch as “like watching a snake eating its own tail.”

Today’s economic news is exactly that– Terror of Ebola and rising interest rates forces investors to dump their dollars into treasuries, artificially lowering interest rates and creating a new housing bubble. This fear in turn leads to a “reconsideration” of raising interest rates and ending bond purchases by the Fed.

In the interest of moderation, I intend to withdraw the majority of my 401k Monday and pay off the mortgage on my retreat, leaving only enough to cover the tax implications. This is a bloody mess with no end game but a collapse of the dollar. It’s time for fervent prayer, topping off storage food, and getting ready. Reading your archives, you did an admirable job of warning the masses in March-September 2008. Perhaps it is time to start ringing the bell with the same urgency? If it falls on deaf ears, so be it, but at least you used your bully pulpit for a good cause….?

God Bless – J.K.