...is now in doubt as a result of the Citigroup bailout. So says, Mish's Global Economic blog.
I'm afraid that he may be correct. Indeed, Daily Sprawl suspects that there is not a Defcon high enough for the pending situation.
If you still have money in the stock market, we highly, highly recommend that our readers consider removing it during this brief bull rally amidst a disruptive bear outlook. The reason is that the myth of all things financial being "cyclical" will continue to be proven false. And, we assure you that this is not a hollow recommendation on our part.
Daily Sprawl moved every penny it had from the stock market in January 2008 (including from all 401k accounts). As a result, we have not lost a single dime in the current stock market downward spirals.
Ultimately, the reason we did this was that we are confident there will not be a return to 2005 during our lifetimes.
This doesn't mean that we'll all be living on farms barely getting by. But, it does mean that there will be fundamental changes like we've discussed in the past here at Daily Sprawl.
Don't believe us? Just check our archives and the archives of those sites and blogs we link to. The proof is right there as most of those predictions continue to bear out.
Please--don't sit still in this all. The results could be financially debilitating to you and your family.