Euro Problems not Over
Since my last posting on this subject,not a whole lot has changed. Well, except the fact that this situation is getting worse, as we all knew it would, and the markets are noticing.
The stock markets have fallen in 3 of the last 4 days and most of the MSM is placing the blame on the European Financial crisis. Our corporate earnings are getting hit, with more to come many think, and the prices are diving.
It was just the other day that one of the ‘doomsday’ guys, that have good track records by the way, was saying we have fallen off the financial precipice. I don’t think he is far from wrong.
Common sense indicates that the world wide economy, including our own, has yet to see the worst. That is coming on a daily basis. Please don’t believe these talking heads when they tell you that they are ‘fixing’ the problem. I am not sure they, nor anyone else, know what the problem really is!
When you don’t know the problem, you certainly can’t fix it, even if they could and I for one don’t believe that the efforts (read money they are printing) undertaken will do any good at all.
The entire system is crumbling as I write. Since the Lehman debacle we have seen far too many financial houses succumb tot he economic pressures and of course sheer greed and fraud.
Look at PFG, the future clearing house that went broke and dang few of these people will ever see any money. Given the fragile state of affairs, why would anyone want to put their money in such a clearing house, just to take more risk to make money that, due to the risk of bankruptcy of the futures firm, they might never see again!
Folks, this financial crisis will slowly unravel the fundamentals of our economy. I suggest you get prepared…take a look at where your money is and how easy or difficult it will be to access it in the event of some financial catastrophe. Do you own any gold or silver? How easy is that to get to? I am all for the Boy Scout Motto here “Be Prepared”!