“Be Prepared” is the Boy Scout motto, right?
As you make your plans for this year, check out this posting by economist Nathan Lewis on a 2007 checklist. It looks like good advice to me. While Lewis is not familiar to me, his bio sounds legitimate:
Nathan Lewis was formerly the Chief International Economist of a firm that provides investment advice to institutional investors. Today, he is part of the investing team at an asset-management company. He has written for the Financial Times, Asian Wall Street Journal, Daily Yomiuri, Japan Times, Pravda, Dow Jones Newswires, and other publications.
Also, as a blast from the past, read this Fortune Magazine story about billionaire investor Richard Rainwater and his plans for the future. T. Boone Pickens is another rich investor who’s gotten on the bandwagon. People who become billionaires don’t do so accidentally.
Then there’s the story about the Bush family buying a huge ranch in Paraguay close to or on top of the world’s largest freshwater aquifer. And the Bush “Western White House’ in Crawford, Texas, home of a scion of a major oil family, uses passive-solar heating, rainwater collection, and geothermal heat pumps.
The country is awash in money, ideas and opinions. The corporate financial game is still going, so so people will continue their mad rush for cash, and the ultra-rich will be happy to help them, since some of them seem to know what’s coming so they might as well make some bucks off the CNBC-watching greedmongers who still think the market is fair and a pretty easy way to make money. A few of them are going public with their concerns about what lies ahead, though it’s hard to say whether this is being done as a public service or as a way to further pump up their holdings before the fall. At any rate, it’s one thing for the mass media and special interests to deride left-ish agrarian anarchists as deluded believers in the bunk theory of peak oil. It’s much harder to go after the mainstays of their society (i.e. the ultra-rich) when they do the same.
How are your preparations going?