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If a major economic disturbance is possible within a few years, how will you prepare?
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Kid Twist Offline
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If a major economic disturbance is possible within a few years, how will you prepare?
What are the top 3 things in the next 3-6 years that you are doing as preparation for an incoming economic downturn/crash/collapse?

If it does happen, to what extent will it change life in the advanced economies?

I'm interested in hearing your thoughts.
09-09-2019 08:56 PM
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Repo Offline
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Post: #2
RE: If a major economic disturbance is possible within a few years, how will you prepare?
1) Moving out of stocks to buy the dip
2) Saving cash in case I become unemployed
3) Living life and not trying to get stressed out about things I cant control
09-09-2019 09:16 PM
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Swordfish1010 Online
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RE: If a major economic disturbance is possible within a few years, how will you prepare?
The post fiat world will look like the purge / the hunger games.
09-09-2019 09:20 PM
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hervens Offline
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Post: #4
RE: If a major economic disturbance is possible within a few years, how will you prepare?
I believe most people underestimate how bad the next recession will be.
I have a few friends and acquaintances that are saving money and waiting for the crash to happen, hoping they will be able to profit big time in the downturn. (They've been waiting since 2012)
If the currency eventually becomes worthless, what's the point ? You won't be able to buy anything anyways. Even if/when things do recover, how in the world are you going to time it ?

I'm no fortune teller, but I say you're always better off preparing for the worst case scenario.

Here are the 3 basic laws of survival:
Shelter - You can go up to 3 hours in extreme heat or cold before dying.
Water - You can go up to 3 days without water before dying.
Food - You can go up to 3 weeks without food before dying.

Everything else comes after: Investment strategies, wealth, girls, preventing bankruptcy, etc.

So whatever your plan is, I say make sure you always keep a good bugout bag somewhere in your home for each person in your family
- Pack it with a good sleeping bag rated for the coldest temperature in your area. Most important
- portable water filtration system.
- first aid kit.
- portable propane stove, and extra propane tanks.
- Flashlight, matches.
- If you have space left, fill with non perishable food and drinkable water.
(This post was last modified: 09-09-2019 09:31 PM by hervens.)
09-09-2019 09:30 PM
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Swordfish1010 Online
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RE: If a major economic disturbance is possible within a few years, how will you prepare?
(09-09-2019 09:30 PM)hervens Wrote:  I believe most people underestimate how bad the next recession will be.
I have a few friends and acquaintances that are saving money and waiting for the crash to happen, hoping they will be able to profit big time in the downturn. (They've been waiting since 2012)
If the currency eventually becomes worthless, what's the point ? You won't be able to buy anything anyways. Even if/when things do recover, how in the world are you going to time it ?

I'm no fortune teller, but I say you're always better off preparing for the worst case scenario.

Here are the 3 basic laws of survival:
Shelter - You can go up to 3 hours in extreme heat or cold before dying.
Water - You can go up to 3 days without water before dying.
Food - You can go up to 3 weeks without food before dying.

Everything else comes after: Investment strategies, wealth, girls, preventing bankruptcy, etc.

So whatever your plan is, I say make sure you always keep a good bugout bag somewhere in your home for each person in your family
- Pack it with a good sleeping bag rated for the coldest temperature in your area. Most important
- portable water filtration system.
- first aid kit.
- portable propane stove, and extra propane tanks.
- Flashlight, matches.
- If you have space left, fill with non perishable food and drinkable water.

People have fasted for much longer than 3 weeks. I agree though most people will be caught with their pants down. I would add guns/ammo and bitcoin to that list.
09-09-2019 09:42 PM
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Kish Offline
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Post: #6
RE: If a major economic disturbance is possible within a few years, how will you prepare?
Water, Gold and Antibiotics!
09-09-2019 10:59 PM
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wwtl Offline
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RE: If a major economic disturbance is possible within a few years, how will you prep
(09-09-2019 08:56 PM)Kid Twist Wrote:  What are the top 3 things in the next 3-6 years that you are doing as preparation for an incoming economic downturn/crash/collapse?

If it does happen, to what extent will it change life in the advanced economies?

I'm interested in hearing your thoughts.

1. Stopped worrying.
2. Started enjoying the present.
3. When being called home, so be it.
09-10-2019 04:14 AM
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MichaelWitcoff Offline
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Post: #8
RE: If a major economic disturbance is possible within a few years, how will you prepare?
I've been watching "Canadian Prepper" on YouTube lately, he has some solid post-collapse content.

Return Of Kings contributor and best-selling author of "On The Mason And Their Lies."
09-10-2019 04:29 AM
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SilentOne Offline
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RE: If a major economic disturbance is possible within a few years, how will you prepare?
It wouldn't hurt to stock up on the necessities like water, guns, a knife, and a couple of canned foods. Also have cash on deck you can touch and not on some digital card.
09-10-2019 02:09 PM
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tugofpeace Offline
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Post: #10
RE: If a major economic disturbance is possible within a few years, how will you prepare?
US is too big to fail. Look at how much money was given to the banks to bail them out last time, same thing will happen again, IMO.
09-10-2019 04:48 PM
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Swordfish1010 Online
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RE: If a major economic disturbance is possible within a few years, how will you prepare?
(09-10-2019 04:48 PM)tugofpeace Wrote:  US is too big to fail. Look at how much money was given to the banks to bail them out last time, same thing will happen again, IMO.

Not sure if serious.
09-10-2019 05:01 PM
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gework Offline
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Post: #12
RE: If a major economic disturbance is possible within a few years, how will you prepare?
I think the severity of the next crash is an unknown quantity, but we have at best two more in us before there will absolutely have to be serious restructuring.

The extent that systems can continue is much more than people think; and it's not like there is much in the way of better systems on the sidelines. When the Soviet Union went it had been running on fumes and crashed for some time. Same with Yugoslavia. When it went they had another system they lost against they looked to. There actually is another system that's working - Hong Kong, but the left absolutely hate Hong Kong, who are now far right.

The trigger point is political instability, Japan is running social democracy in the ground and won't be able to continue with it for much longer. It's structurally impossible without large, continual boosts in productivity. But Japan doesn't have deep political issues based on being part of a failing supranational political project and mass 3rd world immigration. The mainstream parties have been killing themselves by singing onto those, so when the crash hits most or all of the remaining mainstream parties will be washed away.

If I was a politician I wouldn't want to be in office right now. Being out of office is a blessing that Salvini was recently bestowed with. When the crash hits, he will likely get in with a majority. In Europe the "populist parties" are mainly supported by the young, a growing trend. They are the future, the mainstream is dead. With them in power the ability to paper over the economy, which is glaciating due to deep factors, will be much reduced.

If the next recession can't be papered over then a lot of the system will have to be changed. If it can then the can will only be kicked down the line for about another ten years. The monetary sums simply don't add up and no politician will ever tell people the economic realities. Partly because most don't know, but the ones that do have no reason to.

I think the next crash will be unique as it will be more like a slow car wreck that is in motion right now. The central banks are fully aware that a recession is coming and have lowered interest rates back to approaching zero. So there will be no cheap money to stimulate any economic activity. And when people get cheap money they make more reckless decisions. But when an economy happens, which has the prpose of cleaning bad decision makers out of the economy, central banks will have already lowerered us back into a reckless lending environment. And their only options will be to go negative interest rates to stimulate more reckless decisions and to print money, moving purchasing power from savers to speculators.

Then there are government bonds, which are below or heading below zero. Bank interest is heading the same.

The government tool for these scenarios is more taxes, but they are higher than they were in 2008. France has gone up to 57% (effectively socialism) and the second highest in the world after Cuba. This is stealing people's ability to own property, have a family for the sake of propping up the economy today.

Each time these players make these moves they have to steal from the future, ensuring a full implosion in the future. As mentioned I see the main issue in continuing this is Europe, but I think they will just be able to paper things over for another ten years.

Thus I don't see a guns and gold portfolio as necessary. I sold most stocks and have moved into bonds, which are on course to make 15% or so on the year at current. I kept gold mining stocks and some losers; though I am worried gold mining stocks may tank in the crash I'm just holding. Other than that I am sitting in cash. On the other side I'll by a number of things that crashed heavy and companies that will have a growing market in the future: VISA, automation, IVF, AI, medical marijuana etc. For countries I'd bet on Indonesia, Vietnam and Turkey, as their demographic trends are strong for a few decades.

For prepping I think buying gold is stupid. If a situation happens you think you'll be bartering in you gold might not be worth a tin of beans. I have bulk food to last several months. I had more before I became nomadic. I bought about 200Kg of staples and a bunch of tins, bottles each year. So I always had a lot of food. On top of that I have emergency ratios and water. When I get a house I'd like to kit it out a bit more: solar, water collection, compost toilet etc...
09-10-2019 07:18 PM
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RoastBeefCurtains4Me Offline
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Post: #13
RE: If a major economic disturbance is possible within a few years, how will you prepare?
Have a marketable career skill and a good reputation. Save up fuck you money. Buy real estate, unless you are someplace obviously at the top of a bubble.

Given the high levels of world wide debt, I expect a crash will come with inflation, so owning real income producing assets like real estate is the best response to inflation. The rental income will go up, and the current low income mortgage will be heavily discounted by the inflation. Make sure your real estate is mid range, not super low end or super high end, so its easy to rent, even if fewer people have money to pay rent.

As for the career, even in a collapse, there are certain sectors that always continue, and certain new sectors that are coming up. You'll have to figure out your own niche, but I will point out that during the great depression in the 1930's, the air conditioning and refrigerator industries went from near zero to major industries. Being a refrigeration engineer in those days was probably a really good gig. Unemployment in a crash is usually no more than 25-40%. Just be in the 60-75% who are able to keep their jobs.

The key is to position yourself to be one of the people that continues on in good shape through a collapse, which you can tell by looking at the types who came through well in previous collapses.

I'm the tower of power, too sweet to be sour. I'm funky like a monkey. Sky's the limit and space is the place!
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(This post was last modified: 09-12-2019 06:44 PM by RoastBeefCurtains4Me.)
09-12-2019 06:43 PM
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Excalibur Offline
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Post: #14
RE: If a major economic disturbance is possible within a few years, how will you prepare?
1 - Stay in top physical condition. Be able to run, jog 6 miles at least and carry a heavy backpack.

2 - Build, cultivate relationship with friends and family. Continue to explore, meet new people that are good and honest that I can connect and relate to.

3 - Expand on my current employable skill set. Always challenge yourself and learn as much as you can at your job and take on new responsibilities. If opportunity arises maybe learn something fun and useful such as carpentry, plumbing, electricity wiring.
09-12-2019 06:56 PM
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Syberpunk Offline
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RE: If a major economic disturbance is possible within a few years, how will you prepare?
It's taken me long while to come to grips with it, but I am now unfortunately relunctantly convinced....that the next "economic disturbance" will be tied up with the upcoming grand solar minimum, wait until you see real starvation happen in the western world like we haven't seen in about 150 years. We went from about 1 billion to 7 billion now. Everybody is going to get caught on this one.

So better get growing a garden outdoors for yourself as as a start as practice, but eventually do it indoors preferably; vertical indoor farming will be the only way to go. We're going to be able to grow sweet fuck all above the 45 parallel outside.

[Image: AnimatedGlobe.gif]

No government will inform people on this, the implications of it are just too frightening. Invest in seed grain stocks. We're all reliant on JIT systems now and there is a complex hidden web that keeps the shelves in supermarkets looking great, its good at papering over food supply issues so we have developed a sense of complacency.

It's a bit surreal to think it will happen as we've know nothing else but plenty for many generations.
China is quietly buying up Africa for this reason as large areas become available for growing (they know what's coming up down the line), and Russia is investing heavily in educating its population on agriculture. China has ran out of vegetables completely due to cold and now is importing from Kenya.

In Western Europe....its the hottest summer ever, strip off for the LGBTQP parade and ignore the physical world.

Priorities.
(This post was last modified: 09-12-2019 09:02 PM by Syberpunk.)
09-12-2019 08:54 PM
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Sargon2112 Offline
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Post: #16
RE: If a major economic disturbance is possible within a few years, how will you prepare?
I already own my rural home on 9 acres where I can grow food & it's wooded, so heat is taken care of. I have good water from a well on the property. Also own another piece of vacant land in the nearby mountains with a spring on it. So the three to-do items for the next couple of years are:

1. Buy and install a small solar power system (3 to 5kW) to keep freezer and necessities running.
2. Stock up on ammo for shooting food & defense.
3. Install a hand pump on that well.
09-13-2019 07:55 PM
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