Be Afraid! Be Very Afraid!
This just in from AP, “Stocks, oil, gold tank on growing recession fears”, By Patrick Rizzo and Ellen Simon, Associated Press Writers
Stock market rout spreads around the world as recession worries turn to dismay
See the article here
I have been watching my own very small 401(k) shrinking to nothing, and then thinking about other people across the nation with so much more to lose. This dim picture has exploded to include the entire world - it’s global!
I am thinking “end of days” a lot lately. I think the US dollar is an endangered species. What happens if our dollar becomes totally worthless? Think of this: what happens if the dollar becomes just a worthless piece of paper – and you have $100,000 [dollars] in the bank or in a CD or in stock or whatever? And it suddenly becomes absolutely worthless. I think this is a high probability and I believe what wars have tried to do over centuries, the money meltdown will do overnight: a cataclysmic annihilation of society as we know it. And I think this will happen very, very soon.