I got this from Bill Bonner's Daily Reckoning.
"This thing is not about a recession or not a recession…and it's not about inflation or deflation. It's about re-pricing the U.S.A., downward. Sell America…sell its money…sell its stocks…sell its property…sell its politics…sell its economy…sell its I.O.Us. Sell it all," said a friend over the weekend. "It's clear to me that America's best days are behind it. The United States has had a disproportionate share of everything for too long - stock market valuations…the world's savings…the world's energy…the world's calories…the world's military power. That's what is changing. The world is readjusting…it's not getting out of balance; it's getting back in balance. It will be a world where the United States plays less of a role…and takes less of the world's resources."
Makes sense to me. At least the basic premise is true.
Get ready to stay alive.
Michael
mboone@rtccom.net
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