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Richard Russell continues:
“As of now, both the Dow and the S&P are down for the year. I call this Stage One. Stage Two will occur if the Dow sinks into the 10,000 (level). Stage Two Point Five will occur if the Dow starts trading below 10,000. I think if the Dow trades under 10,000, consumer sentiment will change from hope to fear and anxiety.
The big, smart money is choosing diversity. Their problem, diversify into what? The answer may be to diversify into something that is life sustaining...Sustaining may be a matter of food, water, and shelter.
I know much of the above sounds outrageous, but in 1980 the Dow at 10,000 sounded outrageous. We're moving into a world that today's generations will be dealing with matters that they've never had to deal with before.
Continue to accumulate gold and 10 ounce silver bars. I'm sorry for young people now, their biggest move has been to move back in to their parents homes, back into the nest is the fated move today. As far as the economy is concerned, the phrase is ‘Don't be a pest, go back into the nest.’
This is what occurred during the 1930s, and it's in full bloom today. My best advice if your kid moved back in with you, make them pay some rent. They must realize that there is no free lunch, and there are no free living quarters. Next week I will go into detail as to why a giant storm is brewing.”
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© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Eric King
Richard Russell: Crumbling Debt to Crush Everything in its Path
With plunging stock markets and continued turmoil globally, the Godfather of newsletter writers, Richard Russell, is warning his subscribers in his latest commentary, “Stock market is just beginning to hint of the hard times that I see ahead. The almost insane world of debt is rolling close to the cliff and I see increasingly hard times ahead. Crumbling debt will act like a cement roller, crushing everything in its path. The occasional rebound or bounces on the lows will be sudden and short lived.”
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
November 26, 2011
