By now, it should be no surprise that we think there's a recession com

We covered in this month's @BACOMM market update that every major stock index is hitting an all-time high, plus it's hard to ignore what's going on globally.

You probably heard that the Turkish lira is down 45% against the dollar this year, having lost nearly 20% in one day in August. And people are paying from their savings through the hidden tax of inflation, which doubled since last year to 18%.

The bigger problem is that Turkey is not alone. Our fellow Summiteer and precious metals expert @Dana Samuelson recently wrote in a report that the Argentinian peso fell 50% against the dollar this year, hiking a key interest rate to 45% mid-August, and then to 60% a week later. Brazil's real fell 25% against the dollar since March with a 10% drop in August alone. Venezuela's inflation reached 46,300% in a 12 month period.

Could these be the dominos toward a global financial crisis?

On the other hand, although our friend Bruce Norris isn't denying that there will be correction, he predicts that it will have a relatively soft hit to the housing market. Buyers are locking in record low 30-year fixed rates with stringent qualifications, and we are unlikely to have another foreclosure crisis.

Regardless the how you think the next correction will play out, now is a great time to cash in on appreciated assets (especially paper), and to own hard assets with intrinsic value and recession-resistant qualities.

We're looking forward to hearing what the panelists at I Survived Real Estate will say about where we're headed in just a few days!