How ungrateful of the markets.
Here comes Congress and the Federal Reserve, who for all practical intents and purposes are dumping cash from helicopters all over Wall Street, and yet the market continues its stubborn way downward.
Which just goes to show that nobody at the White House, the Congress, the Treasury, or the Federal Reserve really knows what is going on and what should be done. Their standard response (throw money) doesn’t seem to be working.
I suspect part of the reason is that our money is increasingly worthless. But the major reason is that market irrationalities will only be tolerated so long by the marketplaces. Sooner or later economic reality erupts to the future. And that reality is the dismal news that the United States is effectively bankrupt. We are a nation of grasshoppers, and the Kondratieff winter is on its way.
Ash heap of history, here we come.
What am I doing? I am taking my own advice. Cell phones? Cancelled on Wednesday. Credit cards? All cut into shreds. Food storage? Filling out the gaps in my present plan. Extra/back-up income? Working on a part-time business making and selling bulgar wheat. Banking at a credit union? Been there for years.
My advice to everyone is to “go and do likewise”. The ash heap of history is not going to be a fun experience. Congress has betrayed Main Street. We need to work together at the grassroots to save ourselves and our local economies.