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Dealing with Our Coming Economic Disaster
American Thinker ^ | May 14, 2011 | Frank Ryan

Posted on 05/14/2011 9:23:12 AM PDT by OwenKellogg

The situation in the United States has deteriorated and will continue to do so unless drastic action on our federal, state and local government deficits is taken. We need to trace what happens during an economic collapse. In preparation for a collapse here is what you can do personally to avoid being swept away by the tidal wave of fear, anxiety and trepidation.

During the early stages of a nation collapsing economically, the debt of the nation swells almost uncontrollably. We, in the United States are already there.

From the burgeoning debt loads come the setting for collapse.

While the disaster can unfold in many ways, the course for the United States is already set in motion.

Inflation will increase. When inflation hits, citizens with limited financial resources become economic casualties first. These citizens are part of the beginnings of the downward spiral which ultimately leads to a depression.

In a misguided attempt to kick start the economy, our government will attempt another stimulus program which will fail. The parameters under which Fiscal Policy might work if you are so inclined to believe that it does have long been broken. Consequences of government actions are becoming unpredictable and are having unintended consequences.

The United States began the first phase of the stimulus program with the American Recovery and Reinvestment Act as well as the significant expansion of the unemployment compensation to pull us out of the recession. Both actions were the wrong actions at the wrong time.

When stimulus programs fail, our government will try to increase taxes or fees, often in deceptive ways such as fuel taxes, oil drilling taxes, user fees or increased regulatory burdens. This demand to increase taxes is to help support the citizens who were the first economic casualties of the recession as well as to pay for the deficit.

Next the bond rating agencies will downgrade our debt. At that point, our interest rates will increase and further prolong the recession. It is this downgrading of the debt and potential inability to sell our debt on the open markets that will be our undoing.

Our deficits will skyrocket because of the increased interest costs and creditor-forced reductions in spending will be enforced against us. The U. S. Congress will no longer establish our budget priorities. Our creditors will, as is done is Greece today.

The depression follows.

What then should the individual do?

Personally we have many options and they are extremely straightforward. The actions to be taken are exactly the same action that government needs to take but will not.

First, know where you are financially. Know your income and expenses and balance your own budget.

Second, you must start to build your funds if you are able. By establishing some cash reserves, you are reducing the risk of you becoming one of the first casualties of the collapse.

Third, you should consider paying off all short term credit card debt and minimize the use of credit cards unless you have the financial resources to pay for your spending.

Fourth, I would recommend refinancing your home with a 30 year long term mortgage considering how low rates look now. If your home is "underwater" with debt already that may not be possible.

Fifth, build up credit availability if you have the discipline not to use it. If you do not have that discipline, adding credit availability is one of the worst things you can do.

Sixth, make certain you are valuable to your employer. Stay current and productive. Many countries in Europe have 15% unemployment or more. Try not to become part of the "expendable" because you have let yourself stagnate.

Finally, help your family.

Surviving an economic collapse is possible. It will take 2 or more years for the U. S. to be in a full collapse. In interim get active politically, vote, and make government accountable, responsible and efficient to help prevent the disaster. I doubt Washington has gotten the message though! I hope you do. Your family is depending on it.

Frank Ryan, CPA specializes in corporate restructuring and lectures on ethics for the state CPA societies. Frank is a retired Colonel in the Marine Corps Reserve and served in Iraq and briefly in Afghanistan. He is on numerous boards of publicly traded and non-profit organizations.


TOPICS: Business/Economy; Constitution/Conservatism; Editorial; Front Page News; Government
KEYWORDS: 2ndgreatdepression; bhoeconomy; cwii; depression; economicdisaster; economicdiseaster; economy; emergencyprep; energy; frankryan; goldbugs; greatestdepression; oil; opec; preparedness; prepper; prepping; shtf; survival; survivalping; thecomingdarkness; tshtf
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Some practical advice from Frank Ryan....

While the disaster can unfold in many ways, the course for the United States is already set in motion....

1 posted on 05/14/2011 9:23:16 AM PDT by OwenKellogg
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To: HonestConservative

Ping.


2 posted on 05/14/2011 9:24:51 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: sickoflibs; TigerLikesRooster

Ping.


3 posted on 05/14/2011 9:26:43 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: OwenKellogg

What a way to ruin the day...God save us from this mess as it is quite obvious no one else is going to do it!


4 posted on 05/14/2011 9:30:31 AM PDT by ohiogrammy (12)
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To: OwenKellogg
In interim get active politically, vote, and make government accountable, responsible and efficient to help prevent the disaster.

I think this is a bridge too far in the US.

Take a good look at our political class.

Friggin' worthless parasites.

5 posted on 05/14/2011 9:30:58 AM PDT by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: OwenKellogg
Bttt.
6 posted on 05/14/2011 9:32:13 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: OwenKellogg

building up cash reserves translates to becoming a big fat economic fall guy, because the dollar is shrinking and cash reserves therefore lose value at the rate the dollar is shrinking.

A 30 year mortgage will not do any good unless one has a stable source of income. I would submit that there is no such thing as a stable source of income these days. The closest thing might be a government pension, but it is impractical for everyone to snap their fingers and get a government pension.


7 posted on 05/14/2011 9:48:27 AM PDT by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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To: SteveH

A full pantry is the best savings account.


8 posted on 05/14/2011 9:51:07 AM PDT by Mountain Troll (My investment plan - Canned food and shotguns)
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To: OwenKellogg

Personally I recommend investing in commodities and no I don’t mean gold or silver (Nice if you can but it seems the train has left the station for those commodities). I eman food, guns, ammo, general household supplies like TP, soap, detergents.... good basic clothes like socks, underwear good sturdy jeans, maybe enough oil and fileters to change your vechicle out 3 or four times. Learn put in and learn to garden. Learn to can food. I see a time coming when when we will tell our grandchildren and great-grandchildren stoies of times much like those that our own grandparents and great-grandparents went through.


9 posted on 05/14/2011 9:57:03 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: SteveH
You can buy cheap farmland along the Mississippi right now. IN MS, they are getting ready to flood a thousand square miles this afternoon, to protect Louisiana!... (that's more than 640,000 acres...)

Stocked pantries are the best idea, but it's almost too late to do it economically!

But, fearless leader is going to Memphis Monday to have a fundraiser... and maybe see the flooding!

Memphis:
Black/African American population: 61.1%
White/Caucasian population: 33.6%
Hispanic/Latino: 3.0%

(Map of the 1927 flood!)

10 posted on 05/14/2011 10:03:45 AM PDT by WVKayaker (Praise God from Whom all blessings flow!)
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To: Mountain Troll

“A full pantry is the best savings account”

Well said. Add a good water filtration sysem, a hand crank grain mill and about 500 lbs of grains, rice and beans. Its going to be a rough ride.


11 posted on 05/14/2011 10:08:35 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Kartographer

All good advice, Kartographer.

You wanna post a link to your survival guide?


12 posted on 05/14/2011 10:13:07 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: Kartographer

For those who might be just starting you may be interested in downloading my Preparedness Manual, it can be downloaded at:

http://www.tomeaker.com/kart/preparedness1h.pdf


13 posted on 05/14/2011 10:13:55 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: OwenKellogg

Did it, but thanks for asking!


14 posted on 05/14/2011 10:15:25 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Mountain Troll; SteveH
A full pantry is what the cash is for — if people are still buying DVDs, HDTVs, and non-neccessary items, all the while going into debt and spending all the paycheck on paying credit card bills — they are going to get crushed.

Freedom from the debt cycle means having the cash on hand to buy the needed survival items. Big cash on hand may mean the ability to buy something of real value at depression prices — and coming out the other side in great shape.

Planning on going into and coming out of the depression with a big pile of cash may be financial foolishness. It's definitely going to be worth much less.

15 posted on 05/14/2011 10:19:46 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: ohiogrammy

Amen to that one!!! God help us.


16 posted on 05/14/2011 10:22:46 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: WVKayaker

I live in the UP of Michigan. We bought 40 acres of farm land and woodland about 3 years ago for $19,000. Most homes here average around $40,000. But, you can find them once in awhile under $20,000, livable, just not great.


17 posted on 05/14/2011 10:25:23 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: OwenKellogg; All

Yes, EVERYONE, STOCK UP YOUR FOOD SHELVES!!


18 posted on 05/14/2011 10:25:35 AM PDT by LiveFreeOrDie2001 (Best Cook on Free Republic! ;-))
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; Blue Jays; ...

PING!


19 posted on 05/14/2011 10:27:05 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: OwenKellogg

The article doesnt discuss the effects of the inner cities rioting and looting because they will be the first casualties of this collapse. We wont only have to protect our selves from the economy but also protect ourselves from those who fall by the wayside.


20 posted on 05/14/2011 10:33:02 AM PDT by eak3
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To: saradippity

Ping.


21 posted on 05/14/2011 10:52:08 AM PDT by Phx_RC (Positive-ly Palin: New Energy for a New Future)
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To: Kartographer
Remember that it's not how much you make that matters, It's how much you spend that counts.

Everybody should be buying a few dairy cows from local family farmers (cheapest way to buy meat)to debone & can. You'll get 175-200 quarts of meat out of every cow plus have more as ground meat.

Paper products are going sky high down the road; stock up. For the last year or so, I have every month been buying one item, 300-500-700 cans when on sale and mailing into where we live. The postal shipping ends up being the normal price kinda thing. MOst everything is dated 2015 that we get.

Soon as garden drys out, snow has just melted, I'm planting tatoes, have 400 seed tatoes to plant. All with a troy built. Man can do pretty well with thousand lb tatoes in basement and give a few thousand lb to friends who really really appreciate them.

WE have 1000 gal in ground tank, which is full. yet we heat with wood that is free for the work of cutting & hauling.

So much all of us can do to survive what is heading our way; and then once it has passed rebuild our country for our kids.

22 posted on 05/14/2011 11:00:58 AM PDT by Eska
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To: OwenKellogg

Weimar ver. 2.0


23 posted on 05/14/2011 11:04:31 AM PDT by RKBA Democrat (Conservatives are the battered wives of American politics.)
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To: Eska

Large gardens and educate yourself on how to run a chicken coop if you have enough land.


24 posted on 05/14/2011 11:04:45 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: SteveH

Don’t bet on that.

One of the long-term goals on the Left is the Guaranteed Income. We already have it with the subsidies for the unemployed, the poor, the disabled. Next, it could well be proposed and passed to do something similar for the elderly with minimal SS, easily done by increasing SSI while reducing SS for someone else. If we follow the UK, it could then be extended to all university students, “school leavers” and those _looking_ for jobs, even if they have never held one.

This would be done by taxing every productive portion of society and by disallowing all SS payouts to anyone holding over a set amount of assets of any sort. These will be nothing like the sort of Federal pensions people see today after working for them. Some existing Federal pensions could also be set lower in the future to *pay* for the scheme.

People are, I think, betting that the Federal government will do anything and everything they can to keep the dollar just strong enough so that cash retains some value. They have to buy off the upper economic tier, somehow, at least in the relative short term.

I will bet that somewhere in some NGO, someone is preparing a proposal to institute guaranteed income subsidies to anyone who needs to refinance, but lacks the income to qualify. They are already still trying to force the banks to give mortgages to anyone who applies. By guaranteeing the income of these applicants, they, in effect, just buy the mortgage for them. They already do this for renters, via Section 8 and HUD. Again, as in the UK, the subsidized *council house* is taxed, so the net subsidy is actually lower than initially quoted. I get dizzy trying to understand this sort of system, but it looks to me as though they could make it work for a decade or so and that would be enough for them to implement a full-on socialist state. Think of how many government workers it would take to keep this money train rolling around the country, giving the illusion of the fabled *multiplier*.

Put nothing past the Left. How much have zerO and the donks accomplished in just three years that we thought was impossible and crazy-sounding in the beginning?


25 posted on 05/14/2011 11:09:29 AM PDT by reformedliberal
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DONATE

26 posted on 05/14/2011 11:15:15 AM PDT by TheOldLady
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To: eak3
The civil unrest issue is the most scary part of a collapsing entitlement state.

I'm surprised the leftist politicians haven't tried to mandate equal access to firearms for the underprivileged.

I'm not surprised that politicians avoid the discussion of the probability of civil unrest — at least we have Free Republic to speculate and help prepare.

27 posted on 05/14/2011 11:15:17 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: WVKayaker

Sounds like a nice place to leave.


28 posted on 05/14/2011 11:16:41 AM PDT by screaminsunshine (Shut up and eat your Beans!)
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To: OwenKellogg
The situation in the United States has deteriorated and will continue to do so unless drastic action on our federal, state and local government deficits is taken.

Agreed, but the budget Ryan offered was hardly "drastic." It was timid at best, and hardly a good starting point for negotiations.

29 posted on 05/14/2011 11:21:08 AM PDT by Carry_Okie (The RINOcrat Party is still in charge. There has never been a conservative American government.)
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To: eak3

“The article doesnt discuss the effects of the inner cities rioting and looting because they will be the first casualties of this collapse. We wont only have to protect our selves from the economy but also protect ourselves from those who fall by the wayside.”

A lot of planning in my view depends on how worst your worst case scenario is. If you think that things will work out a lot like they are now, just with a lot more broke people and similar to the 1930’s, then that dictates one course of perparedness. If you expect something out of “Dawn of the Dead”, then it’s a whole different level.

Personally, I think this guy is outlining a more realistic worst case scenario than some I’ve been seeing.


30 posted on 05/14/2011 11:23:46 AM PDT by RKBA Democrat (Conservatives are the battered wives of American politics.)
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To: Dubya-M-DeesWent2SyriaStupid!
Before moving to Ak, 20 years back; we raised 700 every year.Had a place to have them butchered at, $1.50/bird. All my neighbors & relatives had home grown chicken.

Here along the Yukon, too expensive to fly feed in, so we don't do it anymore. I'd like to get 35 egg layers once again though. So many half starved predators around here. I actually had wolves in my garbage barrels last winter, a first. Had them kill/eat dogs, had them follow me on trail, but never 3 nights a day apart in my garbage. Those buggers would break into a coop or bear would do it for them.

31 posted on 05/14/2011 11:25:27 AM PDT by Eska
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To: kstewskis

Ping to this thread...


32 posted on 05/14/2011 11:26:39 AM PDT by Borax Queen
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To: screaminsunshine
The civil unrest issue is the most scary part of a collapsing entitlement state.

One can imagine what that will look like...Katrina was just a whisper of that which can come. Additional concern is even if you are prepared. Those people will be coming for what you might have. So if this goes full blown there's going to be more than chaos in our communities.

33 posted on 05/14/2011 11:27:18 AM PDT by caww
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To: OwenKellogg
Funny, not one mention of becoming debt free or saving. Just “Get good credit” and become “valuable” to your employer.

This is typical of the new Amerika. Totally dependent on the Urban lifestyle and the very system that caused all of this in the first place.

34 posted on 05/14/2011 11:28:25 AM PDT by PSYCHO-FREEP (Always Remember You're Unique.......(Just Like everyone Else.))
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To: ohiogrammy
God save us from this mess as it is quite obvious no one else is going to do it!

Not Obama, not the democrats, not Bernanke, not Geithner....they will tell you more lies. Stock up on ammo for self-defense. It could get nasty.

35 posted on 05/14/2011 11:33:18 AM PDT by Rapscallion (Obama is a fraud. The founders gave us the tool of impeachment for a reason.)
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To: PSYCHO-FREEP

Funny, not one mention of becoming debt free or saving


I came away with a different impression: minimize debt and maximize cash.


36 posted on 05/14/2011 11:34:05 AM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: PSYCHO-FREEP

Refinancing a home mortgage doesn’t guarantee ownership, only paying it off ensures ownership.
Arranging lines of credit is stupid - because credit lines can be canceled and there’s no guarantee you can pay it back. Working an extra shift at McDonalds is a better use of your time than “lining up lines of credit” - $50 cash plus a free dinner will pay for dinners later on.
Making yourself more valuable to an employer is not bad advice, but you’re still stuck if your employer goes under.
Stock up on cash and valuable items that are still valuable if the economy tanks - soap, gas, precious metals in trade-able amounts (silver, gold, lead in your favorite gun compatible form) and tools you and others can use.


37 posted on 05/14/2011 11:41:12 AM PDT by tbw2
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To: OwenKellogg

The best and only approach is to start exercising faith in The Lord Jesus Christ. Make the decision now to surrender to his will for you! He is more than capable of being responsible for you.


38 posted on 05/14/2011 11:48:11 AM PDT by marbren
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To: OwenKellogg

How about NO debt? What good is cash when inflation goes through the roof? Hard, free and clear assets and commodities are the only thing to have in a collapse.

Looks like you and the author missed the point.


39 posted on 05/14/2011 11:51:03 AM PDT by PSYCHO-FREEP (Always Remember You're Unique.......(Just Like everyone Else.))
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To: OwenKellogg
I read about the simultaneous inflation and deflation at the Russian currency devaluation. Imported food, fresh food, and quality canned goods, toilet paper, soap, and medicine became very expensive. Fur coats, jewelry, electronics all became very cheap. People would sell luxuries at a discount to get necessities. If you had a hoard of necessities, you could get luxuries very easily for them.

Unfortunately, the Russian system of economics meant few people but the wealthy had a hoard of necessities.

40 posted on 05/14/2011 11:57:23 AM PDT by tbw2
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To: OwenKellogg

The Federal Reserve winds down QE2 in June, starting on May 31, 2011. Some say that the stock and bond market will sink starting on that day. There is not be a QE3 and with Obama still in office - we are all screwed.


41 posted on 05/14/2011 11:58:42 AM PDT by unique
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To: OwenKellogg
You know, 5 years ago I'd have laughed at the theory that all is gloom... I thought the collapse of the housing market was as unlikely as electing an extreme marxist to the white house...

Now, I feel like the whirlpool is not only inevitable, but that the President is seeking ways to speed up our demise. Sumnavabeesh.

42 posted on 05/14/2011 12:07:12 PM PDT by theDentist (fybo; qwerty ergo typo : i type, therefore i misspelll)
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To: PSYCHO-FREEP

You are free to have your own point.


43 posted on 05/14/2011 12:17:23 PM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: Mountain Troll

>A full pantry is the best savings account.

And a full magazine is the best insurance for it.


44 posted on 05/14/2011 12:25:37 PM PDT by soycd
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To: OwenKellogg
i heat with coal but i also have a fuel oil furnace so i bought a diesel generator...

if the electric goes out it'll prolly be out at the gas stations too, but i always have two-three hundred gallons of fuel oil so the fuel oil can run the generator that can power the coal stove or the furnace plus lights etc

45 posted on 05/14/2011 12:27:55 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: theDentist

as unlikely as electing an extreme marxist to the white house...


Seriously unexpected.


46 posted on 05/14/2011 12:45:12 PM PDT by OwenKellogg (Defund Elmo, TOTUS, and GOTUS)
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To: MsLady

There’s a house next door to us selling for $19,000. REALLY in need of fixing-up. Not much property with it, and two black walnut trees (bad, bad, bad for veggies!), but it’s away from the city and you can still do raised bed gardening - as we are doing. It’s in an old coal-mining patch town.


47 posted on 05/14/2011 1:00:55 PM PDT by sneakers ("Obama is like the dog that chased a car and caught it. Now he doesn't know what to do with it.")
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To: OwenKellogg

Hey, don’t worry about ANYTHING! Obama will just hand out what you need from his stash of stuff!!!/s;)


48 posted on 05/14/2011 1:06:55 PM PDT by Frank_2001
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To: OwenKellogg

A more likely scenario is that the states will hold a convention and abolish the federal government. Then we break into confederacies composed of states with like-minded political philosophies. Each will go their own way, with some succeeding and even thriving, and others descending into chaos and totalitarian rule.

I sure wouldn’t want to be in the northeast or mid-west. People with little or no heating fuel and long winters will be worst hit.

The lightly populated areas of the southeast should make out well with its year-round growing season. So food will be plentiful. The mild winters also favor good survival for populations.

California would have been a good survival area with its mild climate, but with millions of welfare savages roaming the state, I wouldn’t want to be there.

The people in the big cities simply don’t have the resourcefulness to easily survive. If large numbers of citizens die, it will be in the big cities.

Most people trying to tough it out on 40 acres in the bush also won’t make it, especially if large cities are nearby. It’s impossible to guard a 40 acre perimeter with two people and a few kids. Say bye-bye.

People who band together in small Christian communities of like-minded people who believe in the constitution and are heavily armed will thrive. If that community is salted with a good number of military veterans, that’s also a plus.

We shall see...


49 posted on 05/14/2011 1:09:10 PM PDT by sergeantdave (The democrat party is a seditious organization that must be outlawed)
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To: PSYCHO-FREEP; OwenKellogg

“Funny, not one mention of becoming debt free or saving.”

I think those were covered in the 2nd and 3rd points, unless I’m reading incorrectly:

“Second, you must start to build your funds if you are able. By establishing some cash reserves, you are reducing the risk of you becoming one of the first casualties of the collapse.

Third, you should consider paying off all short term credit card debt and minimize the use of credit cards unless you have the financial resources to pay for your spending. “

Financial resources to pay for your spending reads as “Don’t go into debt to me.” Building cash reserves = “Save money” to me too, but I could be misreading.


50 posted on 05/14/2011 1:57:53 PM PDT by JDW11235 (I think I got it now!)
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