These are difficult times indeed for economies around the world...markets are pointing south, retailers report dismal pre-holiday sales and the CEOs of the US auto industry's Big Three (GM, Chrysler and Ford) are currently on Capitol Hill begging the US Congress for a bail-out to save the US auto industry from total collapse. In keeping with the economic turmoil, the lyrics of a familiar carol have been given a fresh, realistic, update (depending on which country you are from, you can replace "Recession " with "IMF")!
Recession (or IMF) Is Coming To Town
You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why
Recession is coming to town.
It's hitting you once,
It's hitting you twice
It doesn't care if you've been careful and wise
Recession is coming to town
It's worthless if you've got shares
It's worthless if you've got bonds
It's safe when you've got cash in hand
So keep cash for goodness sake, HEY
You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why
Recession is coming to town!
Finance products are confusing
Finance products are so vague
The banks make you bear the cost of risk
So keep out for goodness sake, OH
You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why
Recession is coming to town.
Going by what's happening now, even cash may not be a safe bet...gold is probably the answer...have a Merry Christmas everyone!
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