What could go wrong with that???
I'd love to hear your views, dear friends!
We’ve offset any baby bust effects with immigration.
Our government has broken faith with us. One of the ways that it has done so is to corrupt our currency. By printing so much “funny money” that is mere paper, they undermine the value of money in circulation, including that in your bank account and 401(K). The dollar is no longer the store of wealth that it was two or three years ago and you can see this every time you visit the grocery store or gas up your car. With Obama doubling down on his failed economic policies, this situation will continue to get worse until reality intrudes in some dramatic way. The nly reason the dollar is holding up right now is that things are worse elsewhere.
This was the situation in Germany between WW1 & WW2. The Germans lost WW1 and were ordered to pay the allies reparations. They also had a lot of widows & orphans to take care from WW1. Since it was politically unpopular to pay reparations, the Germans just printed the money. The predictable result was a period of hyperinflation, which spawned politcal and civil unrest which gave rise to Hitler and the Nazis, who restored order by imposing a rigid socialism. The parallels with our situation today is sobering. Read “The Coming of the 3rd Reich” by
Here are a few things you can do to protect yourself:
Be nice to your kids - they may have to take you in.
Have a few friends you can trust and count on.
Have some precious metals on hand: this is an alternate currency that will hold it’s value and may be a godsend at a critical time. During WW2, diamonds were a good and compact store of wealth and used by spies to bribe enemy officials. It often worked.
Stocking up on canned goods, guns, ammo, and drinking water is always a good idea. Like in many 3rd-world countries, outages and shortages may become commonplace. Stealing and street violence will also become more common. You don’t want to be a clueless victim like the people in New Orleans Stadium after Katrina.
For the short term, meaning the next year or so, you might want to consider investing in energy and shorting all but the big industrial stocks. The government is making it difficult to do business and so the smaller and less efficient are bound to go under, but whatever happens, they are going to need energy and the Dow Big Boys have the clout and global presence to play along with mendacious politicians.
Work hard. As long as you can do a days work or have a valuable skill, the government and its agents will think twice about consigning you to a FEMA camp or designating you as a “useless eater” and making you disappear.
Make your peace with God - now, today - don’t wait. The world is unraveling and the time of tribulation and return of Christ is imminent. Read Revelation Chapter 13 for a preview of what’s coming to a neighborhood near you.
I would welcome your thoughts.
If the Kenyan wins a one party rule in 2014, he is going to nationalize 401ks and replace real value with worthless treasuries.
Then all the prissy libertarians will see that winning is better than being dickheads.
Give them nothing but the ashes of a past consumed by fire. For that is their future and their sustenance.
Illusory, all of it.
The Marxists in power will never rest until all assets are the property of The State.
On one pretext or another, and usually under the rubric of “the good of the people,” The State will slowly but inexorably seize all assets until everyone is dependent on The State for the necessities of life, at which point The State insures its hegemony on political power forever.
This reality is currently striding down main street with a neon sign on its head, but few amid the hungering mob choose to see it amid the glories of government handouts.
I thought it was $86 Billion/year??
then again you have govt workers of all stripes, who never gave anything for most of them into their fat defined pension plans....MAKE THEM FIX THAT PROBLEM FIRST~
All my investments are in an IRA and a 403B, and it’s almost two years until I’m 59 1/2 so I cannot merely ‘dump’ them now without paying a big penalty and taking a tax hit. It’s too bad there isn’t more content to this article regarding people in my position, since the author goes on about baby boomers quite a bit.
Convert to assets that hold their value:
1. Precious metals (primarily gold coins)
2. Good quality rifles and handguns
3. Fertile land
I also recommend stocking barterable items such as tools and seeds, and if you can store it safely and securely, bulk propane and gasoline.
(( ping ))
Communist Obamanation File.
BTW IMHO, the Obama Administration is ONLY interested in achieving the REVENGE of the late Communist Party Member Frank Marshall Davis, Obama’s Uncle/Dad Frank.
My late research, however, suggests that what we as a nation face is not inflation, but deflation
What he doesn’t address is confiscation.401’s and IRA’s nationalized to prop up Social Security. It is on the table
This is just my opinion, obviously. And what I think doesn’t necessarily apply to everyone, because everyone’s situation is different.
My belief is that economic collapse doesn’t look like Mad Max, it looks like a third world country past its prime. Which means to the naked eye, everything looks normal, it just isn’t. People have short memories, and they adjust, and your kids or their kids grow up thinking this is how its always been. Particularly if they are public school educated, they will accept a view of why things are the way they are that is simplistic and wrong, but they won’t care to think past it.
1. I think its important to have your house paid off. If you are in reach of it, I would consider cashing out a 401k to finish paying it off.
2. If you are upside down, or you owe more than what your 401k could pay off, you might consider cashing out to buy a small house that you could conceivably pay cash for. If you live in an area that is high-priced, you might look at buying in an area that is cheaper with the idea of owning it mortgage free (like trading the north-east for a place in the south-east).
I don’t like the idea of walking away from a mortgage you took on in good faith but at some point you may have to. If possible you need to own your home outright even if its a smaller one in a smaller town.
3. More and more I like the mormon idea of a year’s groceries in the basement. I like to watch the prepper shows, and they usually show rather nutty people doing what they do for its entertainment value. But you don’t have to believe in imminent nuclear war to prepare. For me, its an easy question. If you lost your job today, how long would it take to find another one? Thats how much you need in your pantry.
4. Friends and family have to stick together to help one another through. Probably, you wind up being the one everyone else relies on, so you have to expect that whatever you have for yourself, you’ll need a little more to cover the odd niece or aunt that winds up on your doorstep. But being that person puts you in position to ask a favor from time to time too.
5. Others have pointed out that in hard times it gets hard to buy a house, which oddly enough makes rental property more valuable. In collapsed economies people have oft times rented out their primary dwelling and moved into a smaller one or with relatives. Owning a piece of rental property isn’t for everyone and isn’t even an option for everyone, but if you are handy and can deal with the problems that go with it, it could provide an income when you have no income.
So, again, you have to make a judgement. You might consider using your 401k to buy a piece of rental property if you can pay cash. If you don’t have a good handyman in the family, though, you could wind up with more problems than you want. Its just something to consider.
I’m not so sure about holding cash if that cash is losing value. I know, some say we’re headed for deflation, others for inflation. Flip a coin. I like having your money in several places if you have the money (including stocks) precisely because you don’t know which way it will go. But have the basics covered first which means house and hard assets. I wouldn’t try to outguess the market until you’ve covered those first.
It doesn’t take a world-wide systemic collapse to bring you to the brink. It just takes losing your job in a market where you can’t find another one. In my opinion, all this talk about the “cliff” is nonsense. We already ran off the cliff.