An interesting piece from a few days back on the global financial markets which paints a pretty dire picture of a looming bear market. Only time will tell, but it should give us pause.
Real pause.
John Markum on MSM Money.
"Defaulting middle-class U.S. homeowners are blamed, but they are merely a pawn in the game," he says. "Those loans were invented so that hedge funds would have high-yield debt to buy."
The middle class, pawns in a global financial game? Only if we allowed ourselves to be. It's a good time to get and keep our financial house in order, get and stay out of debt, tighten our financial belt and hang on.
If I heard it once, I heard my dear fiscally conservative father tell me a hundred times: get and stay out of debt, live below your means, and save for your future and future generations. He also told me never to co-sign a note. I can still hear him from the other side! Thanks father, I heard you talking, and I'm doing just fine, thank you.
H/T: Flares into Darkness.
Are you staying out of the market?
ReplyDeleteFor the most part right now, I am out, after getting stopped out in early August of all my stocks except one. I have some money with a conservative broker who is also mainly in cash.
ReplyDeleteI am careful, and I think the markets are and will remain extremely volatile. Investors Business Daily is my daily compantion.