Rushkoff Says Sell Now

Crowd outside the New York Stock Exchange after the 1929 crash.

Crowd outside the New York Stock Exchange after the 1929 crash.

Doug Rushkoff, counterculture guru and all-round incredibly smart dude has some worrying advice, just posted on his blog:

Yes, this is really it. The beginning of a true end-of-cycle economically.

If you own “stocks,” use these bounces to get out completely. If you have to park your money somewhere, consider yourself lucky you have money to park.

The object of the game for those who actually have capital is not how to grow it, but how to keep it. Capital has driven our economy since 1300, and the recent bull market was the end of a cycle that began in the mid-1700′s.

The fact that it is ending is not the end of the world at all. It just means that there’s a whole lot of money out there with no place to go. People can’t find a place to park their money because there’s more money looking for investment than there is stuff to invest in. …

This is not a nightmare scenario, no matter what “they” say it is. No need for apocalypse, regression, or guns. That’s all silliness.

Good times ahead.

[Full post at Doug's blog]

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  • Cerebralcaustic

    >Yes, this is really it. The beginning of a true end-of-cycle economically.

    Speculation.

    >the recent bull market was the end of a cycle that began in the mid-1700′s.

    Speculation.

    Rushkoff *is* a smart guy, and I've read his output intermittently for several years. But what are his qualifications to make such sweeping declarations about “end cycles”? He's studied and made a career out of *media analysis*, not economics, accounting, finance, economic history, the philosophy of investing, etc.

    What evidence does Rushkoff cite to support his claims? None.

    The amount of sheer speculation in the media is flabbergasting…

    • emperorreagan

      There are others with stronger pedigrees in the market predicting a significant collapse in the near future. This guy: http://www.nytimes.com/2010/07/04/your-money/04… might be picking the most catastrophic collapse out of the bunch.

  • justagirl

    HA HA! (sorry).

  • justagirl

    HA HA! (sorry).