Liberty Maven

Bailouts, rescues, economic stimulus oh my. What we have is a few thousand (maybe) people in high places that firmly believe they can control the free market decisions of more than six billion people. That is laughable. Not even Messiah-in-Chief Barack Obama has this power. The market is speaking no matter what efforts the delusional goons do to try to silence it.

In a most pessimistic AP article we learn of the next stage of our economic reckoning.

Black Friday’s retail shoppers hunting for holiday bargains won’t be enough to stave off what’s likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the housing market.

Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages.

That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies’ credit.

“We’re probably in the first inning of the commercial mortgage problem,” said Scott Tross, a real estate lawyer with Herrick Feinstein in New Jersey.

No matter what they do, it seems the economic meltdown will continue. Here is what I’m doing “just in case”: Purchasing a safe. Purchasing a few guns and learning how to use them. Buying as much physical gold and silver as I can afford. Keeping 3-6 months of living expenses out of the bank. Stocking up on non-perishable food. Am I crazy?

It is better to be a prepared pessimist than an unprepared optimist. Don’t get caught driving north when all the signs are pointing south.

The end of the referenced AP article tells us all we need to know.

But the only surefire remedy is for the economy to stabilize, for businesses to start expanding and for investors to trust the market again. Until then, Tross said, “There’s going to be a lot of pain going forward.“

Happy Holidays!