Letter from California:
I'm so tired of this market nonsense.
They say nothing focuses the mind like having a gun pointed to your head. Well today I decided to stop my craven hand-wringing and stare the worst case scenario right in the eyeball. I marked my securities down 70%, and even marked the FDIC stuff down 25%, since those don't seem to be safe anymore either.
Thus I calculated a small hard nugget of what I might be left with. And I said, "OK. If that's what it comes to, I'll get a job, I'll earn, I'll buy beans at the Grocery Outlet, and I'll survive."
It was pretty liberating. I felt a lot better. The way I see it, the more desperate and impoverished I become, the harder I am to kill. Just like the weeds: the shorter you cut them the harder they are to uproot.
It might even be worth it, just to watch the whole ecomnomy go down the tubes. That would be a heckuva show. And it could open up a lot of opportunities for those with looting skills.
Let the games begin!
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