We are getting Really Close to an Economic Downturn the likes of which we have Never Seen in our Lifetime. Virtually Everything Economic is pointing that way ...
Here is what people can do to protect their Family, Friends, Community, and Themselves.
1. Pay off all debt. We do not have the means to bail out the banks again ... or anything else for that matter. The top 2 are Student Loans and Low Fixed-rate mortgages. These are owned by the federal govt, and Personal Bankruptcy will not get rid of these. The big risk is a Bank Holiday like in 1933 where the banks closed for a short period of time, an upon re-opening ... Peoples money was worth 30% less, but their debts were 30+ % more in real dollars. It can happen again. They called it a Bank Holiday.
2. Get out of the Cities if one possibly can. There will be rioting. When People Lose Everything, they have nothing left to lose.
3. Get to know your Community. We will need to depend on each other ... Locally.
4. Get Investments out of Paper Assets. Stocks, Bonds, Mutual Funds, and most everything else that is able to be taken by mandate. This is very important. Financial Accounts should be no more than 4,000 dollars. Open up as many accounts as necessary to make this happen.
5. Have at Least 3 Months of Cash at Home. 6 would be better. People will need to pay off their bills.
6. Cut Discretionary Spending. This is the Easiest form of spending to cut.
7. Buy Physical things that will maintain their value ... This ranges from Garbage bags and toilet paper to Physical Gold/Silver and Guns/Ammunition.
8. Plan for Energy Needs. This really depends on what one has. Generators, LED anything, Batteries, Flashlights, Candles, Fuel .... etc
9. Wells, Septic Systems, or anything else not controlled by Govt are Good Things.
10. Food - Gardens, Frozen Food, Dehydrated Food, Canned Food, Rice, Flour, etc ... Have a Backup Pantry if Possible.
This is a short list - As My Dad Said - Plan for the Worst, and Hope for the Best ....
Shermann
