«-- Odds 'n Sods: | Main | Letter Re: A Handy Book for Boys --»

Two Letters Re: More Predictions for 2009, by Roger Wiegand

Good Morning, Jim!
This is a response to “More Predictions for 2009”:
We can't make other peoples' choices for them, but we can be affected by them. We are our brothers’ keepers, but not their masters. Governments will always do what they always do. You need to be concerned with your “mini government” - your own household. Wherein the adults are the governing body and are also constituents (along with any dependents). I choose to focus on what I can control and not toil and spin about the stuff I can’t control.
My predictions for 2009?
- My wife and I will finally take an NRA rifle safety course (already in the works).
- Depending on how our marksmanship and safety progresses, we might hunt for food.
- We will evaluate how much wood we burned through winter and adjust accordingly.
- We will increase the size of our (tiny) gardens with knowledge from last year.
- We continue to diversify our income streams and savings (between the two of us we have five incomes: two main, one moderate, and two minor).
- We will reduce expense by finding cheap alternatives to everything and continuing to make our house efficient.
- We will unashamedly get all we can for free. Fruit from public land, materials from Craig's List, wood from a friend, etc.
- We review home security, vehicle capability, bug-out-bag readiness, and take budget-appropriate actions
- We will finally repay the rest of college loan debt and live truly debt free!! (remember: a mortgage is an investment in equity)

Our mindset is that being “in the world but not of the world” makes a lot of sense for every aspect of our personal existence, not just religious influence. While there are a lot of frightening and depressing aspects to be aware of, we will not be frightened or depressed by our awareness of them. I wrote not to criticize Mr. Wiegand’s excellent analysis, but to simply reinforce focus on what we can do because of these signs.
- Carl H.

Jim,

I must say that Wiegand is another huckster that has had his hat handed to him over the last two years: the S&P has done better than his portfolio. He is another guy that can't make money in good times or bad. If you followed this guy's advice, your account would be friggin' destroyed.

Here are the four theses of Jimmy Rodgers, Peter Schiff, Wiegand, and all the other hyperinflation guys:

1.) US Equity Markets Will Crash.
2.) US Dollar Will Go to Near Zero (Hyperinflation).
3.) Decoupling (The rest of the world would be immune to a US slowdown.
4.) Buy foreign equities and commodities and hold them with no exit strategy.

They got #1 right, but their investments related to that were a disaster-- 2, 3, and 4. Big flops. Why promote people who have been wrong for 30 years?
FYI, there has never, ever been hyperinflation with deflating real estate prices. There has never, ever been hyperinflation when one's debt is denominated in their own currency.
You may find this article about [Peter Schiff] interesting: Regards, - Jeff K.

Permalink -