When you consider the amount of debt and lack of savings afflicting most households it's no wonder that even the media has figured out what's coming.We will have a recession and not even the Fed can stop it.The problem isn't interest rates it's liquidity.The warnings coming from banks tell it all.People can't pay their bills.The last several years were built by the expansion of credit.Credit often times given to uncredit worthy individuals and business'.Offer cheap money to anyone who wants it and guess what happens.They O.D. on it like it's free heroin.Thats the bad news.The good news is we have this thing called bankruptcy that will clean out the excess.In the meantime, cash is king.Have lots of it to buy cheap stocks and real estate when everyone is preaching doom and gloom.I suspect that will be sometime next summer.http://www.contraryinvestor.com/mo.htmTT
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