It’s been a good year for taglines on this blog.
‘Too Small to Fail’ and ‘Social Leverage’ are my faves, but now ‘Broke is the new Rich’ is coming into play.
Being broke is your fastest path to wealth in late 2008 and should continue in 2009. If you are rich, you will get poor as this bear market progresses, but if you BE broke, you have a chance.
Talk to a mortgage broker and find out. If you have money, good luck getting a refinance. BUT, if you bugger off for 8 months you are in refinance nirvana. Who cares what you paid and how underwater your current mortgage is.
If you are a hedge fund, just stop redemptions. Your clients are rich. They can wait.
If you are a really big hedge fund, or Private Equity fund say ‘CERBERUS’, and make a shitty, dumb ass investment in GM/GMAC, just ask the gobbernment to bail you out. Shazam – 20 percent of the profits in your pocket and no responsibility for the losses.
America is upside down heading into 2009. Expect the unexpected.
By the way – Who Cut The Cheese –