“New normal will mean living on a survival scale,” says Richard Russell

 EmailPrint This Post Print This Post

Today’s quote du jour comes from 86-year-old Richard Russell, author of the Dow Theory Letters, who recently slipped and broke his hip. He tells the story from his hospital bed: “I’m dead tired. I’m looking for any excuse to get some rest. I take a shower, I slip on the soap suds below. My body comes slamming down to the floor. I can’t lift my left leg at all. Something is obviously broken. My assistant calls for an ambulance. I’m delivered to Scripps Memorial Hospital in La Jolla. I have broken my hip and that same day I have a complete hip replacement.

“For three days I have post-surgery psychosis. I don’t know where I am, I can’t read newspapers, I have trouble recognizing anyone, including my children. On the 4th day I am lucid and sane once more.

“Meanwhile, the market is almost as chaotic as I am. Nothing really makes sense. A thousand stories and opinions invade the media. My own thinking is that the solution to this international mess is going to take years and the result will be a lower standard of living in the U.S. The idea of making money under our capitalistic system will change. The new focus will be how to avoid losing money. The new normal will be living on a survival scale. It will be slow and costly.”

Source: Richard Russell, Dow Theory Letters, November 1, 2011.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

1 comment to “New normal will mean living on a survival scale,” says Richard Russell

  • boatman

    i am so paranoid of slipping in the shower(est.15,000 dead a year) i do not clean hard water grit off shower floor……it is not slippery.

    richard will be lucky to survive the fall and the hospital.

    2 friends of mine went in for routine joint replacement both came out feet-first from infection.

Leave a Reply

  

  

  

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones


One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

November 2011
MTWTFSS
« Oct Dec »
 123456
78910111213
14151617181920
21222324252627
282930 

Feed the Bull