Get Your House in Order
Recently, Professor Roubini’s scenarios have been dire enough to make the flesh creep. But his thinking deserves to be taken seriously. He first predicted a US recession in July 2006*. At that time, his view was extremely controversial. It is so no longer. Now he states that there is “a rising probability of a ‘catastrophic’ financial and economic outcome”**. The characteristics of this scenario are, he argues: “A vicious circle where a deep recession makes the financial losses more severe and where, in turn, large and growing financial losses and a financial meltdown make the recession even more severe.” [Read]
It is important to familiarize yourself with the possibilities of economic troubles that may lie ahead so that you can not only prepare and navigate them but prosper. Every day, in every economic condition, opportunity presents itself.
(The article also suggests why gold is $920/ounce--like we have said, they are devaluing the dollar to your detriment.)