“However, there is one major difference between the depressions. Unlike the Great Depression, this depression is marked by extremely accommodative monetary policy. Helicopter Ben has delivered and he has had backup from other central banks. As a result, money supply and monetary base have increased dramatically in the United States and abroad.”
So it is a SHALLOW depression, papered over by the Fed.
“Whenever I talk about the depression, people ask me why buy anything at all. I have a simple answer. It won’t last forever. Ultimately, global demand for higher standards of living and the paradigm shift â?? the real one â?? of the U.S. getting freedom from OPEC will drive real economic growth. The United States, and other resource-rich nations, will begin to do very well again when that occurs later this decade. Use the coming final corrections of the secular bear market to accumulate valuable long-term assets.”
Seems like the best advice is to sit on high dividend stocks (like the telephone and tobacco stocks), buy real estate, and wait it out.