Yep, if you've not already done so, it's time to break camp. I'm pulling out of stocks and mutual funds and stuffing everything into stable income - which won't pay much, but it beats the heck out of what's going down now.
Let's look at the picture: looks like 1932, except that the clothing is different and nobody's trying to sell apples for a nickel apiece.
And by several accounts, there is much yet worse to come.
Howard Davidowitz characterizes Obama as "Mr. Mass Destruction": Davidowitz says that the key to Obama's success is his ability to sell his policies to the public. He can confidently read from a teleprompter and appear competent and in control, when in reality, "it's one big bag of empty words," Davidowitz says of Obama's messages.
Davidowitz contends that the President's spending, including the health-care bill, is creating massive deficits that will take the U.S. years to dig itself out of. "He is Mr. Mass Destruction," Davidowitz says of Obama. "I mean he is a human destroyer. This guy has spent his way into oblivion and we don't have a budget. He is surrounded by a bunch of complete incompetents, led by himself. "
He's almost correct. Obama has spent our way into oblivion, and shows no sign of letting up.