Mar
18
2009

The world economy is doomed… Buy a farm, get a shotgun

According to Marc Faber author of the Boom Doom and Gloom Report, the global economy fell of a cliff in September. To top that off governments are printing money to “ease the situation” and bailing out banks that made stupid choices. Marc Faber’s outlook on ABC’s Lateline Business last night was not very good.

Faber points out that government interference and bailouts only delay the coming economic doom wave, and whilst they hold it up, the wave is just getting bigger.

A TNT driver last week told me that business is scarily quiet. All casuals are gone, and drivers are being asked to do extra work to keep their jobs. When freight stops, it’s a sure sign that the economy is up a creek without a paddle.

Ultimately, the prospect of many large western governments going broke is very real and the economic situation that we are experiencing is unprecedented. Mark Faber

My advice to you is to go and buy a farm… and a shotgun, because things will get very bad in the world.

If governments fail or hyperinflation comes in to roost, civil unrest will surely follow (See Zimbabwe). It won’t matter how much money, gold or property you have then or how secure you feel now.

It’s hard to see a way out and I wonder what the heck are we going to do about this? The current economic system doesn’t work. I fell confident enough that we are all about to know this for sure. I think it’s time to look to an alternative source for guidance. See the bible at Jeremiah 10:23.

Written by brettg in: Economics |

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