Doom and gloom

From: Tom Cleary

America's economy grew by a sluggish annual rate of 0.7% in the second quarter. Consumer spending advanced 2.1% but business investment crumbled, falling by 13.6%, its biggest fall for nearly 20 years. The National Association of Purchasing Management index slid again in July, signalling that manufacturing activity had declined. Big companies' profits fell by 67% in the second quarter compared with a year before, the largest fall for more than a decade. (The Economist)
The American economy has never escaped a recession when these conditions have been present.
See Gerard Jackson at
on how these facts relate to Australia. So the question is, what is the best investment strategy in times like this?
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