ATHELSTAN

This Recession Will Be Neither Short Nor Shallow

The financial press and the business TV shows have lost all credibility, particularly the latter. They have deteriorated into nothing more than sounding boards for short-term traders who sing a different song every day, representatives of financial services who don't know what they're talking about, those who know how to lie with a smile and also have different stories to tell each day, and out and out liars.

Only reliable news events and serious academic analysis should form the basis for any investment decision. Brokerage house based economists have become totally untrustworthy because they have become little more than toys in the hands of management.

For the first time since the 1950s, I've moved out of stocks and into gold and 30 year Treasury bonds. To prepare for the greatest depression of all time.