While many economists believe we may be seeing light at the end of the tunnel for this recession, there is one author that is warning people to take precautions – in case the worst is still ahead.
New York Times Best Selling Author Martin Weiss says we may be in for another “depression,” if the government’s efforts to turn the economy around don’t work.
“Economists right now are telling you that things will get better because that is what they’re trained to do and that’s their agenda. That’s precisely the time when you should take advantage of the temporary optimism in the stock market or real estate market to get out and do all the things to get (your money) to safety that you wished you had done before the whole thing collapsed,” Weiss said.
Weiss’ view is pretty bleak and isn’t shared by most economists. He says that the stock market and housing market could fall much further than they already have and agencies like the FDIC, which insures bank deposits, may not be able to keep up.
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