I’m expecting that on Monday, all markets will head upwards a bit. This won’t go into a straight out drop until late September, I’m betting, if at all.
Hard to say what will happen next, but to me it is clear debt crisis has begun to unfold. Much like 2008. But this time, the FED and central banks around the globe don’t have much ammo left. Prognosis? Things will get somewhat ugly, followed by a brief period where interventions seem to be working, and then, finally, things will get out of control.
Situation specific prep recommendations – other than the standards of beans, bullets, etc we speak often about here – If you paid close attention to what happened to the average Greek, it will be similar everywhere. Cash will be king for an undetermined period of time. PM’s come in later. Keep a good chunk of it at home, physical cash. How much is discretionary but I personally won’t leave much in my bank at all; because chances are it’s going to be frozen or even confiscated in a ‘bail-in.’ Anything you have in stocks (equities) or is based upon equities (such as hedge funds and many retirement accounts), get it out soon if possible.
If this turns out to be a false alarm? No big deal, just put your money back in your bank and buy your stocks again.