Many times over the last 25 years, I have taken the time to WARN the PUBLIC of coming, MAJOR market turns or changes in the economic environment. NEVER in those 25 years have I been as worried about the United States as I am today!
When I warned of a stock market top eight years ago in 2000, the U.S. economy was in great shape, the wealth of Americans was high and there were no, visible cracks in our economy. Now, after 8 years of an ongoing slowdown and market correction (under wave theory terms), nearly ever facet of America (its economy, government, society, financial system) is seriously damaged and at extreme risk.
Today's decline (June 6, 2008) in the Dow, S&P and Nasdaq is warning PHASE 2 of the Bear market (that began last year) has begun or will begin in the next 3-6 weeks. This bear market will be like NOTHING we have experienced in 75 years! The odds are HIGH it will be a severe, deflationary recession that will unfold very swiftly - probably in just 6-12 months, but no longer than 18 months!
Financially and economically speaking, there will be few places to hide. Merely having cash in hand will put you in a better position than most. Please prepare as well as you can for what should be 2-4 years of very difficult economic conditions.
I wish us all good luck!
Sincerely,
Glenn Neely
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