"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has." Margaret Mead (Mostly what other say will be in italics, what I say will not. There will be occasions when this is messed up or forgotten, but generally it will true- for those keeping track of the opining vs the reporting!)
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.
Labels:
economics
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