Lisa C. suggested this article: One Guy Who Has Seen It All Doesn’t Like What He Sees Now about an elderly financial that fears the effects of the current credit collapse, but suggests buying stocks. I concur with the former, but not the latter. In my opinion the US stock market is heading for a fall. The recent Dow Jones rallies have been nothing but sucker rallies. And if you look at the volume of stock that insiders are selling, it is clear that a lot of the “smart money” is abandoning ship. (See, for example, Oracle CEO Larry Ellison’s regular dumping of his own shares.) I predict that there may soon be a stock market collapse, most likely immediately after the Federal Reserve stops easing interest rates, and starts raising them. That will be the turning point. That will also likely be the day that those of you that took my advice and invested in gold and silver will become very happy campers. And also, BTW, the recent pull-back in the spot gold and silver prices are a great buying opportunity. I recently wrote that a gold price south of $875 would be a bargain, an I stand by that.
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Eric sent us this piece on Peak Oil : Good-Bye, Cheap Oil. So Long, Suburbia? But, meanwhile, we read: Oil discovery rocks Brazil. I have my doubts about Peak Oil theory, but I recommend hedging your bets by buying photovoltaics, horses and tack.
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Merry found us this: Buffett says recession may be worse than feared. Warren’s wisdom: “This will not be short and shallow.”
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FerFAL (our correspondent in Argentina), has some suggestions on making a living during a “slow slide” economic situation, based on his experiences in Argentina. Check out the post at his blog titled “Making Money During the Crisis.”