Economy – “It’s truly a scary time”

A hedge fund manager who warned about the last financial crisis is seeing parallels of that run-up in the market today.

“I think it is a truly scary time,” Andy Redleaf, CEO of $4.2 billion hedge and mutual fund manager Whitebox Advisors, said in an internal memo Sunday night obtained by CNBC.com.

– the above comes from the article “Hedge fund manager says: It’s a truly scary time

There is little doubt that compared to 5-6 years ago the economy is better. Not great – but better. Regardless of the improvement I continue to believe it is just a matter of time before a crisis develops. The government continues to rack up trillion of dollars of debt. We now owe close to $18.2 trillion dollars. This is close to $60,000 for every single person in the United States(including illegal aliens). The US dollar is only worth something because we all BELIEVE it to be so.

For me the big question is when.

Rourke

 

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4 Comments

  1. “Including illegal aliens”
    I feel pretty confident that we shouldn’t hold our collective breath waiting for illegal aliens to pony up their share, no matter what benefits they have gotten while living here. Hell, under the current administration, they would probably be exempt should the collection effort begin.

  2. Fuel prices are starting to drop again….. Job market is improving…..Land and home prices are rising…..Chicken Little will always be around. I guess you have to base it all on how “Your” standard of living is. As long as everyone has an emergency fund and survival supplies, everything will be hunky-dorey……Join the APN or A.N.T.S. to further improve your capabilities and survivability. Times were tough during the Depression, but the wealthy got hit the hardest. Those who stockpiled and learned to barter, eeked out a little better.

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