Dr. Doom is on CNBC talking to Maria Bartiromo talking risks, Europe, the PIIGS, and double dips.
Maria cited a recent panel where he called for a 20% decline in US equities over the coming months.
He’s calling on governments to cut spending and raising taxes, but doubts any one government has the political capital to do it.
He recommends getting more into cash, and possibly buying protection with options, though he notes that’s gotten expensive.
As for the double dip question, he sees the risk everywhere from Europe to Japan to the US.
Apart from cash, where would he invest? Short-term government bonds in countries like Germany and Canada.
Not to take away form what he’s saying, but this is VERY much in line with what everyone is doing, so if you listen to him, you’re not bucking any trends right now, not that you necessarily need to be.