Harry Schultz at 87, legendary character in the investment letter industry is signing off with some dire predictions for the US and global economy. He’s not the only knowledgeable person with a finger on the pulse of the financial world warning of future economic troubles. Hope for the best but hedge your bets and keep that savings account growing, stock up on non-perishable foods, buy garden seed, make friends with your neighbors and whatever else you will need to do to survive tough times.
“Roughly speaking, the mess we are in is the worst since 17th century financial collapse. Comparisons with the 1930’s are ludicrous. We’ve gone far beyond that. And, alas, the courage & political will to recognize the mess & act wisely to reverse gears, is absent in U.S. leadership, where the problems were hatched & where the rot is by far the deepest.”
Read the entire article at MarketWatch: Harry Schultz’s last testament
Commentary: Letter gives final investment allocation recommendation