If the Worst Case Scenario takes place.
If the credit market goes South.
Nobody can pay the bills, shipment of food is chaotic, people are angry, looting. Etc how could you be ready?
What can you do now to prepare for the worst case scenario?
Are you ready?
What advise can you give to those who are not?
Here are some interesting current news items concerning Worst Case Scenario.
meganmcardle.theatlantic.com...
What am I so afraid of?
The worst case scenario: Credit markets freeze up within the next week and many businesses cannot meet their payrolls. Margin calls cannot be met and
the NYSE shuts down for a week. Hardly anyone can get a mortgage so most home prices end up undefined rather than low. There is an emergency de
facto nationalization of banks to keep the payments system moving. The Paulson plan is seen as a lost paradise. There is no one to buy up the busted
hedge funds, so government and the taxpayer end up holding the bag. The quasi-nationalized banks are asked to serve political ends and it proves hard
to recapitalize them in private hands. In the very worst case scenario, the Chinese bubble bursts too.
Here is Jim Cramers point of view..a good read as he has good street
sense...
www.thestreet.com...
Worst-Case Scenario: Dow Under 8400
Without the Paulson plan, or if the plan is so watered down and delayed, I have been saying all bets are off and we could be in for a huge swoon. How
huge?
He is very pro bailout!
Or this item....from TIME Mag.....
The End of Prosperity?
Congress's initial rejection of the Bush Administration's $700 billion bailout plan calls to mind an unhappy precedent. Back in 1930, the Senate
passed the Smoot-Hawley Tariff Act, which raised duties on some 20,000 imported goods. Historians define this as one of the critical steps that led to
the Great Depression — a tipping point when the world realized that partisan self-interest had trumped global leadership on Capitol Hill.
Are you ready?
What can you do to get ready?