Saturday, December 29, 2007

Build a Bunker?

It may yet turn out that Howard Ruff wasn't a buffoon, just a generation early in his dire predictions. The construction and real estate markets are tanking. Citigroup, JPMorganChase, Merrill Lynch, MBIA, Ambac and others are reeling from the mortgage (and (mainly) the mortgage deriviative) market, to the point that they may not survive (at least with current and/or American ownership). And if the big boys are reeling, the littler boys (BofA, Wells Fargo, Cap One, et al) have got to be getting nervous, if not downright sick. And, of course, we have the Gang that Couldn't Shoot Themselves in the Dick If They Wanted To in charge. I have to cut this short; I think my local gold dealer and survival gear store are open late tonight.

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