How to protect yourself from the next economic collapse?

[stinkynuts]

Experts say there will be a financial crisis that will make the 2008 one look like a holiday. Stocks will plunge, and the economy will be in a tailspin.

What do you to protect yourself?

a)Buy physical precious metals
b)Buy real estate


Any advice?

 

[Hangman]

Buy canned food and shotgun ammunition

 

[Viggo Rasmussen]

There's always opportunity in someones misfortune.
:thumb:

Shares of Lakeland, a tiny company that makes hazmat suits is soaring due to Ebola worries.

 

[nobody123]

Experts say there will be a financial crisis that will make the 2008 one look like a holiday. Stocks will plunge, and the economy will be in a tailspin.

What do you to protect yourself?

a)Buy physical precious metals
b)Buy real estate


Any advice?

I'm gonna have to go with live an unhealthy lifestyle and die before having to suffer too long in our post-apocalyptic nightmare world of the future everyone shits their pants over and sees coming real soon like, anytime now, no really, we mean it this time.

 

[shrek71]

Your best protection to any "disaster", economic or otherwise is to minimize/eliminate your reliance on systems of support from "the powers that be".

1) Store up food that you eat, and eat that stored food. Shoot for 30 days initially, then 3 months, then 6 months, etc. Given the never ending price increase on food, storing food gives a return in excess of 15% on your investment.
2) Water, store up some extra water
3) Energy. Have alternative means to produce your own power for charging batteries, small electronics, etc.
4) Have means of heating your stored food (boiling water), when you have no power. So a simple outdoor bbq works wonders for this purpose.
5) Pay off all your debts as soon as possible.

This is a good start there are a bunch of other areas to consider.

Cheers

 

[groggy]

I'm just re-watching the walking dead to learn real life survival skills.

 

[asterwald]

You will need a gun with lots of ammo. When the economy collapses people will rob one another. You will have to as well. Keep a list of people you know who might have what you want in such times.

 

[nottyboi]

Ah hhh fuck it, who wants to survive in such circumstances. If you have precious metals, and they are valuable, people with guns will kill you and take them

 

[HEYHEY]

Ah hhh fuck it, who wants to survive in such circumstances. If you have precious metals, and they are valuable, people with guns will kill you and take them

lol exactly

plus its gonna be a little hard to eat a gold bar

 

[Lenny Weinrib]

Why pay off debts? Wouldn't collecting debt be a better strategy?

 

[rhuarc29]

Why pay off debts? Wouldn't collecting debt be a better strategy?

I'd say pay off any debts where the debtor can seize your assets if you fail to pay.

I'm also worried about the next potential economic collapse. The world is in a much worse condition than it was the last go-around. Ironically, the last recession helped me more than it hurt me, but that was only because I was able to keep my job through it all. It certainly hurt the company I was working for. We lost more than half our workforce and almost went under! That said, a few changes since then and we're much better prepared than we were before. But if we go into a depression instead of a recession, we might still succumb.

 

[thirdcup]

Who remembers the months, weeks, and days before Y2K? The doomsayers had a field day.
I remember being told that after midnight, basically everything that made use of computers would shut down, and we'd be thrown back to the stone age.
How many generators were bought and then returned?
One of the most well known guys who made it a crusade to give talks and warn people gave his vote of confidence by saying he planned to be inside an airplane when zero hour arrived.

The remember reading of only two glitches because of the millennium. One , several video stores lost track of when their loaned out vids were due back. Two, a lady in Sweden who was 105 received a letter addressed to her parents, telling them it was time for their 5 year old daughter to sign up for kindergarten.

We also survived 2008.

Maybe we are due for another colossal meltdown, but I'm betting against it. A big correction? Most probably yes, but the world will find a way to recover and carry on.

 

[james t kirk]

^^^ Agreed.

I don't think you're going see a "Survivalist wet dream" come true any time soon.

As to the economy, anything can happen. As far as I can tell, we are still in the throws of "the Great Recession" of 2008. The smoke never really cleared did it? I think we are seeing what it is - a struggling recovery. Right now, it's Europe that is scaring the shit out of the markets again. It seems like the US may finally be picking up, but Europe is mired in socialist BS (France, Italy, etc.) Add to that a slowing China.

It's amazing how linked the world's economy has become. At the end of the day, it will never be perfect all over the world at one single time.

If you look at the history of the DOW, it seems to move in 17.6 year cycles. (It's amazing, but it does.) There are 17 year cycles of growth, followed by 17 year cycles of up and down where there are virtually no long term gains to be made. The last "bust cycle" started in 2000 and it's true. Since then, the DOW has gone up, only to go right back down again.

 

[Big Sleazy]

Ah hhh fuck it, who wants to survive in such circumstances. If you have precious metals, and they are valuable, people with guns will kill you and take them

Or you could trade in some precious metals and buy a gun. But the reality is the economy is running on fumes. Interest rates are at all time lows and despite what the Fed says, they will lower interest rates before they raise. This should be obvious to anyone paying attention. Banks no longer have to mark to market. They can keep assets on there books and value them at whatever they want. How ridiculous is that. Corporate stock buy back is at an all time high. Borrow money at insanely low interest rates. Buy your stock. Pump the stock price. Get bonus. Sell stock. Repay low interest loan. This ponzi scheme is going to end.

1. Have some precious metals. They are below the cost of production today. And unlike paper fiat currency, Gold and Silver can not be printed. And they have been money for over 5000 years. Do what the Chinese, Indians, Russians and the people in the Middle East are doing. Buy physical Gold and Silver.
2. Payoff your debt.
3. Have some cash on hand.
4. Have enough food and water for 3-6 months.
5. Get in shape.
6. Know your neighbours.
7. Learn self defense and learn how to use and store weapons.
8. Get at least one other passport.
9. Have a plan.

Hopefully the above won't be needed. You can sell your Gold/Silver. Interest rates will be 6%. Unemployment will be low. And we'll have balanced budgets.

BS

 

[SkyRider]

It certainly hurt the company I was working for. We lost more than half our workforce and almost went under! That said, a few changes since then and we're much better prepared than we were before.

I think the balance sheets of corporate Canada and corporate U.S. are in much better shape now than in 2008. I vaguely remember reading that corporate U.S. is sitting on 3 (or is it 2?) trillion dollars in cash.

Question: Is Toronto real estate overvalued?

 

[rhuarc29]

I think the balance sheets of corporate Canada and corporate U.S. are in much better shape now than in 2008. I vaguely remember reading that corporate U.S. is sitting on 3 (or is it 2?) trillion dollars in cash.

Unfortunately, much of that cash is centered on a relative paltry number of large corporations.

 

[anon1]

 

[GameBoy27]

I remember the last crash. I wasn't paying attention and my investments (mutual funds etc.) took a serious hit. It took years before the balance was back to what I invested in the first place. In other words, I would have been better off with cash in a safety deposit box than invested in various markets. I do not want this to happen again.

The suggestions of stocking up with food, water, guns, ammo etc. is just ridiculous. I'm looking for real advice as to how to safeguard my investments.

 

[one.of.a.kind]

Experts say there will be a financial crisis that will make the 2008 one look like a holiday. Stocks will plunge, and the economy will be in a tailspin.

What do you to protect yourself?

a)Buy physical precious metals
b)Buy real estate


Any advice?

You are so right. Did that in 2006 and corumba, let the good times roll.

Oh, and buy bank stock.

 

[shrek71]

The suggestions of stocking up with food, water, guns, ammo etc. is just ridiculous. I'm looking for real advice as to how to safeguard my investments.

So you think stocking up on food and water is ridiculous? How often do you eat? I'd venture 3 - 5 times a day including snacks. How much have food prices risen year over year for the last several years? I suspect it is significantly more as a percentage than any investment you've got in the stock market, mutual funds, etc.

If you choose to disregard that item, safeguarding your investments is not as hard as one might think. Invest in things that are going to be needed regardless of the economic conditions. Ie Cash flowing assets like rental real estate, oil and gas wells among others.

Also keep in mind that 95-97% of all monetary transactions are done electronically, so it pays to have a good amount of cash on hand. With standard bank accounts paying nothing for interest, one might just as well stuff their mattress with paper money.

Cheers