A Tale of 2 Shipwrecks

And How to Keep Your Nest Egg From Getting Lost at Sea

By Patrick Bove Dear James, With the dollar’s value plummeting every time we fire up the printing press to bail out one troubled entity after the next, the question remains… Who’s going to bail out the government when it has to face the heaping amount of trouble that’s been brewing right under its nose? Consider this:

• The United States just posted an $82.7 billion budget deficit for April – quadrupling the former record.
• 48 American states are virtually insolvent … bleeding revenue and jobs, with no sign of hope.
• Brutal riots have been playing out in Greece… and there’s no guarantee it couldn’t happen here.

So why aren’t the majority of Americans “abandoning ship”? For the answer, we turn to a tale of two shipwrecks. Take the case of the Titanic and the Lusitania – two famous ocean liners that slipped beneath the seas nearly a century ago. A recent study published by the National Academy of Sciences explains … the amount of time it takes a ship to sink directly influences passengers’ behavior. Check this out… In the case of the Titanic, which sank in 2 hours and 40 minutes, passengers remained calm until it was too late. By and large, there was no panic response. The Lusitania, however, sank in a mere 18 minutes. And the reaction was far different: blind terror … like a steep stock market sell-off. Every man for himself! What does this have to do with growing and protecting your wealth?

Escape from America (Without Leaving Home)

America has sprung a leak. (Maybe that’s the real reason behind all those “bailouts?”) Even buttoned-down news anchor Brian Williams has confessed, “The dirty little secret is … the world has no money, and the emperor has no clothes.” The USS America’s “passengers” can be divided into three groups:

1.) Those who have no clue what’s going on. 2.) Those who sense something is wrong – but are not sure what to do. 3.) Those who know something is wrong – and are taking bold steps to do something about it.

Who do you think stands the best chance to survive – and prosper through the challenging years ahead? (It’s a no-brainer!)