this is an interview with eric sprott, who has a very clear view of the economy. of course, his funds did as badly as everyone else last year:

So what does the ordinary investor do in this environment?

I can only tell you what I do and what I do on behalf of our clients.

There are only two things we do today: precious metals and shorting. There are only three things in the world that have worked [during the crisis]. Having cash, which I question, because of the quantitative easing. ... Owning gold and precious metals or shorting the market.

http://www.theglobeandmail.com/servl...