My doom and gloom call on the Dow Jones Industrial Average
For some years now I have been obsessed with the idea that the world will undergo an economic depression that could be much worse than the 1930′s.
I will create a behavioral plan to survive in the coming depression. The plan has several key elements:
Behavioral — The plan is designed for human beings. Asset markets are very challenging for people. Thus, the plan has to account for the realities of human emotions.
Survive — Success in an economic depression will be one of relative success. In the late 1990′s, a friend of mine worried about the world. In response, he stashed tens of thousands of dollars and gold in a safety deposit box. Then 9/11 happened, and it would seem that he had been foresighted in his fears. However, his safety deposit box was in the World Trade Center. The authorities recovered his box in the rubble; it was filled with melted gold and ashes. Everyone will be hurt in a depression. the goal is to survive and lose less than you would have otherwise.
Economic Depression — this plan is designed for a world where people buy food with US dollars. If the outcome devolves to gangs with guns these ideas will not help.
October 2, 2013