Bonds will be losers, stock picking trickier and high-priced tech stocks a sell, writes Frank Giustra. So how can you protect yourself from the coming disaster?
by Frank Giustra
The Star
In politics it is necessary either to betray one’s country or the electorate. I prefer to betray the electorate. – Charles de Gaulle
In the opinion piece I wrote last week, I warned of a looming financial crisis in the U.S. (and other Western nations) fuelled by spiralling debt, money printing and a broken political system — and that most people will be unprepared.
Although much of the population is anxious, no one can imagine a worst-case scenario, simply because unlike my parents’ generation, our generation has never experienced the effects of a depression, hyperinflation, or war. The sad reality is that history has shown us that these cycles occur every 70 to 100 years and the patterns leading up to these crises are recognizable.