Thursday, January 3, 2013

Surviving a Depression with Turner

Here's that famous psychic ability again.  A mere 4 years ago reality all looked so different.
 Surviving a Depression with Turner - source
Published on Tuesday January 13, 2009  
As in his earlier books, Turner devotes a lot of space to houses. Why not to buy now. 
[editor note - housing up 20% from this point - yet again Turner perfectly bottom ticks the market in Jan 2009 with the wrong advice]
Why to sell now and rent. How to fool potential buyers. What to buy and where if, surprisingly, you couldn't find anything to rent because everyone else read his book and decided to sell, at a loss, to raise cash to put in a safe just in case – maybe yes, maybe no – we go from recession into depression.
Funnily enough, I agree with a lot of the things Turner says about the disadvantages of buying a big house in the remote suburbs or retiring to a cottage should the price of energy soar again after the global recession. And, yes, there is a remote chance we could have a depression, or have a meteorite strike the planet. 
But he loses me completely when he makes suggestions for surviving a depression.

Turner tells us to hunker down, repay debt, save money to buy gold for the recession. 
Then he suggests following him way past suburbia into the great beyond, where you should buy an electrical generator, buy large quantities of gasoline, buy chickens to raise, buy several seasons worth of seeds to hoard in your safe and buy a gun to shoot squirrels for food.
With all this selling and buying of real estate, all this stocking up on fuel and survivalist supplies, and with all the driving around out in the boonies, you have to wonder how we'll ever slip into a depression.
Turner has, however, offered enough predictions that he will surely have something more to gloat about by the time he writes again.

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