Potential Recession Looming?

Faber’s bearish market calls have been followed closely since 1987 when he warned his clients to cash out before Black Monday.

And in a live interview on CNBC’s Fast Money Halftime Report, Faber again warned that economies of the world may be on the brink of a serious slowdown.

Faber indicated that while investors remain focused on Greece and Europe – other issues, bigger issues are looming. And they’re more threatening.

“As an observer of markets – whenever everyone focuses on one thing – like Greece and Europe – maybe they miss issues that are far more important – such as a meaningful slowdown in India and China.”

...“I think we could have a global recession either in Q4 or early 2013." When asked what were the odds, Faber replied, "100%."

Read entire article here.

2013 may be a hard year financially with rising food prices and economic recession. It's a good time to stock up the pantry, just in case.  We are saving and buying ahead in many areas such as food and clothing. I usually do this anyway, but I'm being a bit more aggressive now. Thankfully, there have been some good clothing sales lately at both the thrifts and discount stores, and I'm collecting multiple coupons from ebay for the restocking of my pantry. If you can food, so much the better. I freeze rather than can. We've got a floor freezer filled with food from the garden and sale items.

I'm also getting a lot of medical expenses out of the way now, in case things get bad. I needed to get my varicose veins dealt with and my sleep apnea. By the end of the summer, I should be all patched up, full of energy, and ready to start the new school year. : )

Save, save , save...we just don't know what the future holds, and we all need a cushion to fall back on. Keep it simple, live below your means, think long term, and you'll persevere. Do what you can, and leave the rest to God.