Don’t Buy Yet

The markets are in freefall – as we have predicted.
They will fall more.
There is so much bad news in the pipeline.
Everyone who has bad news coming is holding out, hoping for a miracle.

Fortunes will be made in the recovery.
Think about the recovery, two,three, five or twenty years from now.
Don’t spill your cash now, wait.

People will still need services, pizzas, frozen food and cars.
But things will be different.
Perhaps the neocon madmen in D.C. will start a new war to get things going.

The further we fall in the financial crisis, the more likely the madmen in Washington might do something truly stupid. This worries us. The market panic and collapse is mostly good, but the government reactions can be disastrous.

We also ask ourselves, “will they learn from this” – all the people who have been part of the easy money madness. If you have bought a new car for loaned money, or bought real estate during the last three years YOU have been part of this. YOU have contributed. Yes – YOU. Not just all the others – YOU have contributed.

People seem to think this is good, and that there has been excess. Just not for them, personally. Everyone else, not them.
Personally we still drive the 1994 model car we bought in 1998. We have a boat built in 1979, and we have no real estate. But we to have been partly involved in this – why did we not warn people more? Why did we not protest outside the central bank? Why did we not…
We have much to learn from this.
Will people learn, will they sit down and think, reflect?

This is the biggest, most expensive lesson so far in our lifetime. Let us hope people learn, but we fear not.

On the contrary, we fear that this might lead to anger, US aggression, tougher policy, more regulation, police state and all the bad stuff you can think of.

I will go for a long walk in the sun now, free, good, nice, down to earth and wonderful.
We went yesterday and found a few fistfuls of wonderful wild raspberries.
The best things in life are free, they truly are.

Scale down your life to where you can enjoy the free things in life.

Stavanger, Norway. Sept 6. 2008 Hans Lysglimt

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One Comment

  1. Posted 6 October, 2008 at 9:21 pm | Permalink

    Thanks, wise words.
    Now I’m glad I chickened out of the stock market years ago.

    I blogged this today:
    http://eolake.blogspot.com/2008/10/blood-on-market-floor.html

    And updated an article of mine on the basics of personal finance:
    http://stobblehouse.com/text/on-money.html