Altstry is an Optimist
Let's get a point out of the way....
Yes...I believe the odds are extraordinarily high that we will experience a DEPRESSION worse than anything we experienced in the 1930s.
Do I think its the end of the world....not a chance. I read in the WSJ about a Russian professor predicting the collapse of America.....is it a possibility???? Sure............Likely????? Very Remote!!!
As a person, I have very simple tastes. Give me a chance to be around my family, have a few friends who love to play poker, and be a trader(quite frankly I don't care what it is within certain moral constraints)......and most of my day is pretty much filled up with what I love to do.
We as a nation and a world for that matter are likely to go through some very difficult economic times. Painful Yes!!!!!! But not the end of the world. I have little doubt that I have personally lost more money in a week than most CAPs members will save in a lifetime. There is nothing fun about it......but generally it is not the end of the world.
What we are about to face as a nation (and world) is a natural clensing process found in economics or nature. Excesses must be purged in order for new growth. We are now in the purging process.......where it will take us is anyone's guess.......and my guess is a lot further than many are currently prognosticating. The reason, because it was allowed to go much further than it should have based on the behavior of a few that will cause great pain for the many.
But when its done.....rest assured I believe it will eventually end.......the ride up will be growth like we have never seen before.....but this time with world markets opening up for many.
Again, trading is my game........I am very passionate about it.......few get to have as much fun working as I do............and I have friends in almost every profession including professional sports.....and I wouldn't trade their life for mine for a second.
The fact that we are about to face adversity is not something to fear.....it is something to prepare in order to mitigate the distress. If we can help each other......than we should all benefit in the end......in the mean time I will try to rack up more points.
PS: Next time a Russian professor discusses the collapse of America.......ask him to at least be fair and extend his logic throughout the world.