Recently I listened to an interview the economist, Joseph E. Meyer gave to Dave Hodges at The Common Sense Show. In that interview Mr. Meyer said a number of salient things.
I could just plainly say Mr. Meyer is an expert, but instead let me help you understand that he is someone to whom we should be listening. For nearly five decades, he has been personally and professionally involved with the U.S. financial industry. He has literally helped thousands of people find their ways through the maze of questions that can arise in an ever-changing financial environment. Meyer has seen good markets turn bad and then turn back toward prosperity again. Joseph Meyer has the answers that only experience and common sense can provide. Mr. Meyer produces the Straight Money Analysis newsletter. A reader, Raymond N. from Long Island, NY says the SMA newsletter “gives you the full picture, in great detail, yet it is very readable and easy to follow. Through Joe’s thorough analysis, you develop an understanding of where the economy has been, what historical developments we are facing, what happened in the past and – most of all – what can (or will) happen in the future.”
Some of this is scary information. He is not doom and gloom, he is simply dealing with the facts as they exist before our very eyes. So let’s get to it:
First, Mr. Meyer is concerned about the unfolding destruction of the 11th largest bank in the world, Deutsche Bank. Yes, they are in trouble and the repercussions will affect you personally. Could the failure of this bank could re-align global political alliances? You should be aware of what is going on with this major global bank.
Second, you should be concerned about three things when it comes to your money/wealth;
Third, Joseph Meyer says very clearly and adamantly:
1) Eliminate risk from your portfolio. He suggests money market type funds, but you have to be careful there. If you want gold or silver, have physical possession of it.
2) You should have 6 months of expenses in your possession.
3) You should have sufficient food, water, medicine, and other basics. He even goes so far to say you should have a firearm. (Those are strong words.)
Fourth, prepare for the tough times that are certainly ahead of us. “We are going to be surprised not only by how fast the fall in the market will be, but also by how far.”
I guess you now have to determine if you can overcome the long proven psychological condition called “normalcy bias.” The time is now for you to think a little and listen to what others are doing and saying. We must get back to the basics: Family, Friends, and Faith