Below is an email I recently sent to family and a few friends.
...............
In the last month or so---
1. Michael Burry ("The Big Short") says: the worst Crash in history ("the mother of all crashes") is coming...
2. Ray Dalio (who has managed a $150 billion Fund for decades, & from whom nat'l gov'ts have sought advice) says: the Asset Bubble is about to collapse, & it will be "worse than 2008"... https://www.youtube.com/watch?v=73Gpg6KDFsI
3. Bill Gates has sold large blocks of his stocks in companies this yr - he sold 100% of them in Amazon, Apple, & Twitter...
4. Warren Buffett also has sold large amounts of his stock portfolio this yr., and says massive inflation is coming.
5. On the other hand, a few economists & financial gurus are saying the inflation will be temporary, followed by Depression-like deflation, thus causing the Crash.
Does all this definitively prove anything... obviously, no... but it does suggest that people a lot smarter than me are extremely worried about the big kahuna being just around the corner. [I thought it should have hit 4-5 yrs ago:]
So, you have nothing to lose by preparing accordingly. At the very least, having extra household goods on hand (& rotating them as needed) is no big deal - Crash or no Crash, you'll use them anyway.
Everyone Be Well, & Be Prepared... just in caseEnd of Reminder
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Contrary to what the gentlemen above are saying, irrational exuberance currently seems to be the flavor of the day in government and on Wall Street. To some degree or another, it all reminds me of the Tulip Asset craze a long time ago in the Netherlands. As a species, will we ever learn the consequences of Bubbles?
Not only my opinion.
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