Part One of this column discussed the economic situation and government action, and several readers complained that I was not cheerful or optimistic in my views. Today's column won't be any more upbeat, I am afraid, although I do offer some positive notes and suggestions in the final section. An accurate sense of what is coming at least gives one better odds of making the most of what the future holds. Ask those who sold their stocks (or better still, sold short) before the Crash of 1929, or who left Hitler's Germany before the worst began (or Stalin's Soviet Union, or Fidel's Cuba, or Pol Pot's Cambodia, or Idi Amin's Uganda, or Mugabe's Zimbabwe, or – well, any of a hundred examples recent enough to still be within living memory, including natural disasters such as Mt. Saint Helen's [video; 1 min 21 sec]). No one wants to hear bad news, but for those not hoping to become Darwin Award candidates, listening carefully to the rumbles of potential oncoming disaster is simply another part of personal responsibility and even, at times, self-preservation.
This could indeed be one of those times. Decide for yourself, but at least take an open look at the situation before dismissing such thoughts.
Today, in Part 2 of this "Year Ahead" column, I'll discuss oil and precious metals, food, and environmental issues in varying degrees of detail. Inevitably, the economic situation (and government responses) will become part of the discussion. I'll finish up with predictions and, as mentioned, provide a few suggestions and offer some encouraging words.
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