Chapter 160

"As I have informed you Ms. Mesner is extremely wealthy, and you do not get that wealthy by being wrong very often. Sometime within the next six months, the United States economy will enter a recessionary spiral that will last between three and six years. The first thing that will happen is the real estate bubble will collapse. Home prices will drop by half or more. That will cause many banks to fail. Those failures will cause many of the large Wall Street banks and firms to fail. This will be the largest collapse since the Great Depression.

The United States government is already preparing for this to happen, and it cannot stop it. There is not enough money in the world to stop it. Banks are overleveraged, mortgage houses are overleveraged, and people are overleveraged. I am going to say something now that goes against everything you have ever believed in your entire lives. If you own a home, sell it now. Rent something of equal size at a modest price or rent something s