Our Future

http://burndownthefreakingmission.com

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On another subject, I just had a lengthy conversation with my son Ryan. Ryan is building a self-sustaining farm on 40 acres, two hours north of San Francisco. He and his friends have built a large house, that is comfortable enough to withstand the toughest winters. Ryan has a well that provides his own water, and he also generates his own electricity. I call him the last American pioneer. He is growing a huge crop of vegetables and has planted all sorts of fruit trees. His next step will be chickens and perhaps a few ducks.

I told him he's in the right business for the future, which is a survival business. The 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. 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 area. 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. Read more at lewrockwell.com

 

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