The Complete Idiot's Guide to Being "A Bear"

Welcome, one and all, to what I hope will be a new feature here at TMR – I am your resident “Complete Idiot” on all things economic and I’ve undergone quite a journey over the last 24-months or so from a more-or-less “WE ROCK” optimist to being a total “We are so totally freaking doomed!” Bear – so I’d like to share my continuing journey down that path with an eye, given the mission of this site, toward the political end of the spectrum (and here’s a hint – if you don’t think politics and economics mix you really need to be looking at places like Kos because we’re rather well past you here).

For the record, I’m neither a “Gold Bug” (though I certainly do own some of the shiny stuff), nor a member of the “Bank of Sealy” (though I certainly do have some FRNs – that’s Federal Reserved Notes, or Benny Bucks, for the uninitiated – scattered in easy to get to places).  So where do I stand?  Well, as of this morning – 13 May 2010 – I believe the following…

1) “The Market” is totally overbought, and it’s beginning to look a whole lot like late-Summer 2008 all over again

2) Gold will continue to outperform most other commodities, for quite some time

3) The Euro is dead, long live the Euro

4) The US will NOT be permitted to continue to deficit spend upward of 13% of GDP – and that practice, should it continue very much longer, will end very poorly.

And a whole bunch of other things.  I’m thinking of a quick early morning post, perhaps something to wake up to, with a round-up of how it all worked out in the evening.  Assuming I can manage it with this, you know, job thing.