The End

In an ever-ongoing campaign to convince others of my own greatness, I bring to you an excerpt of a quote from an entry on June 7th of this year. In it, I predict the eminent decline that hit Wall Street yesterday. No, I am not an economist. Really, I know next to nothing about nothing when it comes to money. But, sometime it takes the village idiot to see the writing on the wall. I am rethinking the sign I refer to in the quote:

“Several months ago I had a premonition that much more than a recession was on the horizon. I believe that the staggering amount of debt that the typical American has accumulated, the specter of inflation because of oil prices, etc., the terrible weakness of the dollar (also a product of bad trade practice with China et al.) and the bulging national debt (aggravated by the cost of the Iraq War) all together spell a horrible, potential doomsday for us all. I say “us all” because when America sneezes, the rest of the world gets a cold. Although I have, perhaps, been involuntarily pulled into the vortex of European over-confidence, and there is a part of me that hopes that our economy here could weather such a storm, the truth of the matter is that the interconnectivity of the world’s economies is such that this crisis could actually create a domino effect that feeds off of itself, and thus destabilizes the world economy. There is potential tailspin there that is undeniable.

Now would be the time to convert stocks into cash, I my opinion. Or, perhaps I should say, yesterday was the time to convert assets into cash.

I am just short of painting a sign saying, “The end is near” and walking through the streets of Berlin.”