Things Become More Serious
I wrote about a year ago hear in regards of the general health of the U.S. economy.
I was told that all is well and nothing will sink the S.S. America.
I then wrote also that every indication is that oil will be worth more than $100 per barrel and again I was told imposibble.
I now have a theory. I don’t know if anyone thought of it before this but I thought I’ll give it the say anything acid test, so here it goes.
I think that, if not all then most, banks with or without government agreement and after the subprime fiasco have sat down and put into action a plan to allow certain number of banks to declare some sort of bankruptcy / buy out every week.
This will allow the banks to maintain public confidence not eroding all together resulting in major uncontrolled failirues.
Even if I’m far from right I think it would be prudent to
a- immedialtly open several acounts with different federally assured banks
b- in medium term open an Euro acount to keep say 30 to 40 % of your savings which will appreicate regardless of interest made.
c- In long term Buy blue chip sound company shares when the market hits the bottom or there abouts.
Hope everyone comes out of this with the minimum lasses.
OK I,m ready with all the name calling and ridcule.
