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WE ARE IN DEEP, DEEP ECONOMIC S**T
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This may work, but it is not without risk.
If one believes that massive inflation is unavoidable, and today's rates are as low as we are likely to ever see, it would be tempting to load up on cheap debt, that can be easily paid back in the future.
But the risky assumptions are that 1) you'll have income in the future and 2) your income will increase with inflation. If these assumptions don't come true. you'll just be poor and potentially homeless. Not a good way to "prep".
Here is wisdom:
The rich rules over the poor, and the borrower is the slave of the lender. (Prov 22:7)
Thus, the purple text in the OP.
To all: The writing is on the wall. Things are bad and have the potential to get way worse.
I think we can all agree on that. I think we all agree prepping is a good idea. So, given these facts let's prepare to our personal and varying degrees and GTF over it.
I started a business this summer and am making more money than before, and I was making good money before I quit my job.
I'm looking to hire my first employee soon.
My mutual funds have returned about 12% this year.
I'm out buying up all the cheap and solid investments while others are decrying the falling sky. Then, I'll sell my mutual funds in a few more years when everyone is yelling at me to go out and buy them because they returned 12% for the last three years.
Anybody want to buy some of the precious metals I bought 7 years ago?
There's plenty of money to be made with creative ideas and hard work, but you gotta work yourself into the right position to be able to do it.
I'm looking to hire my first employee soon.
My mutual funds have returned about 12% this year.
I'm out buying up all the cheap and solid investments while others are decrying the falling sky. Then, I'll sell my mutual funds in a few more years when everyone is yelling at me to go out and buy them because they returned 12% for the last three years.
Anybody want to buy some of the precious metals I bought 7 years ago?
There's plenty of money to be made with creative ideas and hard work, but you gotta work yourself into the right position to be able to do it.
FINALLY. Something I can agree with 100%!
I believe we are in deep doo. Sure, there are parts of the current mess that seem familiar to the depression and other recessions, but those crisis had the benefit of cheap energy to pull them out. We are pretty close to peak oil, aquafers are running out in some countries and resources are getting tougher to come by. Add to that the burden of debt our government has handed us and it's going to be tough to get back to the old days and ways of spening our home equity for that new pool. I don't believe we will get back to that in our lifetime.
I also believe that there is going to be a huge reduction in population over the next 10 years due to shortages of just about everything. Societies come and go. They start small, grow slowly, but exponentially over time and then explode. Read the book 'Collapse' by Dimond, it's an interesting read.
Now, I'm not a gloom and doomer. Quite the opposite. There are going to be plenty of opportunities created that don't exist today and if you are smart enough to see them, you will probably do well. There will be challenges, but some of us will see those as the point were communities became important again. Those of us that are doing nothing to prepare, in the form of either reducing debt, storing staples, improving skills and health or any of a hundred other things we can be doing, those that have their hand out today for a government solution to every one of their problems, will most likely die.
Things will eventually get better. There will be fewer people but those that come through will be better grounded in what's right and less focused on what's fun. The fourth turning typically presents a society with a huge hurdle and once past it, there is a relatively calm period. Similar to 1875-1895 or 1945-1965, we will see an improved time, but there's going to be hell to go through to get there.
I also believe that there is going to be a huge reduction in population over the next 10 years due to shortages of just about everything. Societies come and go. They start small, grow slowly, but exponentially over time and then explode. Read the book 'Collapse' by Dimond, it's an interesting read.
Now, I'm not a gloom and doomer. Quite the opposite. There are going to be plenty of opportunities created that don't exist today and if you are smart enough to see them, you will probably do well. There will be challenges, but some of us will see those as the point were communities became important again. Those of us that are doing nothing to prepare, in the form of either reducing debt, storing staples, improving skills and health or any of a hundred other things we can be doing, those that have their hand out today for a government solution to every one of their problems, will most likely die.
Things will eventually get better. There will be fewer people but those that come through will be better grounded in what's right and less focused on what's fun. The fourth turning typically presents a society with a huge hurdle and once past it, there is a relatively calm period. Similar to 1875-1895 or 1945-1965, we will see an improved time, but there's going to be hell to go through to get there.
don't mean to preach, but won't apologize for being christian:
you are following 'diverse weights and measures.' this has all been foretold and to be honest, it has been done before. Weimar Republic is on top of the tongue.
The currency is being purposefully devaluation. George Sorros has pointed it out IN HIS OWN WORDS. He also gave the reason's why.
He want's our currency to be devaluated to the point where we run to people like him to save us with a 'world currency.' Read his books. Don't listen to me, or Glenn Beck, or anyone but good ol' George S. Here is the acuzation... now prove me wrong, don't discredit. I have done my homework... you do yours.
We all need to make sure we understand who we are, what we believe, and what we are willing to do for what we believe. That is what all of this boils down to. There will always be those of you that will run your mouths with the intention to dissuade those that ring the warning bells. fine. You be the cannon fodder. I am heading for this hills while you stand in the rain with the flood waters at you knees and rising!!!!!
there is a story of the coliseum in rome and the crowd ignoring the city burning down around them so they could watch the last of the Gladiator match's. I wonder how many of you/us are in the audience and how many of you/us have already packed up and GOOD?
M
Every fiat currency ever used has collapsed, as bad policy goes hand and hand with a currency you can just make up out of thin air.
Anyone know about exponential growth and hockey stick charts?
If not, watch this lecture....
[ame=http://www.youtube.com/watch?v=F-QA2rkpBSY]YouTube - The Most IMPORTANT Video You'll Ever See (part 1 of 8)[/ame]
to understand what this chart means.......
Bondhead88
Expert
I liked this saying "Who is John Galt?" It didn't do a lot for me though. The next town over from where I grew up was actually named after it's founder. "John Galt" and I grew up hanging around John Galt Mall.
My grandfather once told me if you want to be successful, surround yourself with successful people. 
Now, I know things are not the best right now, but dwelling on the negative and the possible horror of what could happen is just a waste of time and energy.
When a athlete goes into competition or a warrior into battle, they don't dwell on failing or death. They imagine themselves winning.
I'm not saying to pretend it's all good, but a healthy dose of self esteem and confidence in themselves, would not hurt some people.
We all know someone who is not doing well. You have a opportunity to help them out or watch them suffer.
I seriously doubt reading the Economic Collapse Blog will help you in any way.
Now, I know things are not the best right now, but dwelling on the negative and the possible horror of what could happen is just a waste of time and energy.
When a athlete goes into competition or a warrior into battle, they don't dwell on failing or death. They imagine themselves winning.
I'm not saying to pretend it's all good, but a healthy dose of self esteem and confidence in themselves, would not hurt some people.
We all know someone who is not doing well. You have a opportunity to help them out or watch them suffer.
I seriously doubt reading the Economic Collapse Blog will help you in any way.
Take a look at http://www.chrismartenson.com/. He has produced a crash course that helps to understand why we are in over our heads right now. This is not cyclical and we will not be back to the good old days of 2005 ever again. There are opportunities created every day as things change though, and once you understand what's happening, you stand a better chance of getting through it intact. If you decide to keep you head in the sand, well then, good luck.
My grandfather once told me if you want to be successful, surround yourself with successful people.
Now, I know things are not the best right now, but dwelling on the negative and the possible horror of what could happen is just a waste of time and energy.
When a athlete goes into competition or a warrior into battle, they don't dwell on failing or death. They imagine themselves winning.
I'm not saying to pretend it's all good, but a healthy dose of self esteem and confidence in themselves, would not hurt some people.
We all know someone who is not doing well. You have a opportunity to help them out or watch them suffer.
I seriously doubt reading the Economic Collapse Blog will help you in any way.
I agree ... surround yourself with people that are great and you too will become great. I wonder how great you will become if you choose to ignore the evidence. There is profit to be made in any economy. You can't ignore the indicators and hope you do well... you have to pay attention and research every indicator and make your best educated guess.
M
It seems some people dont grasp the basic doo doo we are in.
They print the principal but never the interest, meaning there is no way to ever repay the debt, not the national debt, not all of our personal debt. We are slaves to the system, forever, there is no way out except for a total collapse.
No amount of taxes, or government cutting services can fix this problem, ever.
Stop blowing sunshine up each others behind about hanging around successful people and do some basic research.
What was our Interest payment last year on the debt? 3-4 HUNDRED billion dollars?
With interest rates at 0%? Care to do the math on what our payments would be if interest rates went up to 7-10%, even if we balanced our budget or even ran a surplus(lol, yeah right).
It would be in the trillions.
Some of you need to grasp just how serious this situation is. The C.R.E. market has to roll over close to 1 trillion dollars in loans in the next 2 years(2011-2013).
The residential market is going to fall even harder in the next year or two as there is over 2 million homeowners late on their mortgage, with the avearage being over 300 days late, with mortgage cure rates for 60 days late(or later) being 5%.
The only reason banks stopped the foreclosures(no matter what the msm tells you) is because as long as a mortgage is still on the banks books, it is counted as an asset, otherwise if everyone that was 90-120 days late on their mortgage was in foreclosure, you would see a huge tide of bank failures, and the fdic is already running in the red.
Meanwhile the banks are also trying to keep housing prices inflated by not allowing the bulk of the house they did foreclose on going to market as the market is already flooded with millions of empty homes.
If these successful people have their success in dollars or dollar denominated assets, and not tangible items like food/ammo/pm's/etc, i would not be hanging around with them.
Good luck brothers and sisters!
They print the principal but never the interest, meaning there is no way to ever repay the debt, not the national debt, not all of our personal debt. We are slaves to the system, forever, there is no way out except for a total collapse.
No amount of taxes, or government cutting services can fix this problem, ever.
Stop blowing sunshine up each others behind about hanging around successful people and do some basic research.
What was our Interest payment last year on the debt? 3-4 HUNDRED billion dollars?
With interest rates at 0%? Care to do the math on what our payments would be if interest rates went up to 7-10%, even if we balanced our budget or even ran a surplus(lol, yeah right).
It would be in the trillions.
Some of you need to grasp just how serious this situation is. The C.R.E. market has to roll over close to 1 trillion dollars in loans in the next 2 years(2011-2013).
The residential market is going to fall even harder in the next year or two as there is over 2 million homeowners late on their mortgage, with the avearage being over 300 days late, with mortgage cure rates for 60 days late(or later) being 5%.
The only reason banks stopped the foreclosures(no matter what the msm tells you) is because as long as a mortgage is still on the banks books, it is counted as an asset, otherwise if everyone that was 90-120 days late on their mortgage was in foreclosure, you would see a huge tide of bank failures, and the fdic is already running in the red.
Meanwhile the banks are also trying to keep housing prices inflated by not allowing the bulk of the house they did foreclose on going to market as the market is already flooded with millions of empty homes.
If these successful people have their success in dollars or dollar denominated assets, and not tangible items like food/ammo/pm's/etc, i would not be hanging around with them.
Good luck brothers and sisters!
Mr flagg,
I agree 100% with what you are saying. I know that what is being said is true.... my gut say's the Generally Dumb Public (GDP) will ignore the issue until it is too late. Here is the latest comparison laid out:
when you put a frog in a pot of boiling water, it will try to get out ... if you put the frog in water that is warn and turn the heat up, it will stay in the pot and die quietly. My point is these steps have been laid out very carefully and quietly. In order for the faith in the US dollar to be destroyed and our government to collapse, it would take the governments outside the US to lose faith in our currency. that could be in 6 months (I doubt it) or it could be in 6 years (more believable, but still i doubt it). I think these foreign gorvernments want to try to heat up the water on the GDP over time and the majority of the people of the US will willingly follow those in power to their (or my/our) demise. I know ... pretty dark outlook, but... there are those that ignore all the evidence for their own comfort.
M
I agree 100% with what you are saying. I know that what is being said is true.... my gut say's the Generally Dumb Public (GDP) will ignore the issue until it is too late. Here is the latest comparison laid out:
when you put a frog in a pot of boiling water, it will try to get out ... if you put the frog in water that is warn and turn the heat up, it will stay in the pot and die quietly. My point is these steps have been laid out very carefully and quietly. In order for the faith in the US dollar to be destroyed and our government to collapse, it would take the governments outside the US to lose faith in our currency. that could be in 6 months (I doubt it) or it could be in 6 years (more believable, but still i doubt it). I think these foreign gorvernments want to try to heat up the water on the GDP over time and the majority of the people of the US will willingly follow those in power to their (or my/our) demise. I know ... pretty dark outlook, but... there are those that ignore all the evidence for their own comfort.
M
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