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Today readers have shown an increased interest in survival tips according to the poll on this page. This has given it a slight lead over gardening tips, although they overlap each other somewhat.
The biggest news affecting the survival of this economic depression has to do with the coming hyper inflation that will most likely appear in the not-too-distant future. This means that any savings you might have, including retirement accounts, will be worth much less, if not almost totally wiped out, soon.
So, now would be a good time to make some adjustments to your bank balances, 401k's, stocks, or other accounts. The big question is what to move the paper assets into from those accounts. The answer would hinge upon the most likely scenario to arise.
But first, as a side note, as any true friend should outline, the opinions given are not to be considered financial advice. These are only my opinions and what I would do but not to be considered professional advice. Of course, as many can tell you, most professional advice has led to the loss fortunes in this past year.
If you do seek professional financial advice, be cautious. Most advisers are still recommending strategies such as the old "buy and hold" methods that will lead to disastrous results, if followed. The ones that offer this advice should be avoided like the swine flu, in my opinion.
And now for the meat of the article. The inflationary strategies being undertaken in order to counter the deflationary effects of this depression should take affect shortly. But they will lead to the value of money to go down with regard to certain necessities of life such as food and energy.
So stocking up on food and driving a vehicle that conserves on gas would be two obvious answers. Other places to move your money to could include hard assets such as gardening supplies and seeds or warm clothing and hand tools.
Candles, toilet paper, batteries, wind-up flashlights and radios, converting to solar or wind power, wood or pellet stoves and fuel, and putting in a water well can all be good choices. Other items that might cost you more soon could be firearms, ammunition and other hunting supplies. If you have any extra supplies, some of these type of things could be valuable for bartering or trading for other items.
If you have a lot of paper assets left over, precious metals have been the usual method of preserving wealth in the past. Much of this material has been covered in past articles so to avoid repetition, I will only try to publish new material as it becomes available regarding this topic in the future. Therefore, you may want to review the archives of past articles for basic information that will be helpful and to brush up on good strategies.
As seen today, the precious metals have jumped in price quite a bit this morning. That could mean that time is running out to get into some of these assets listed above. Oil has also went back up over 71 dollars a barrel. The economic movements discussed here may take a very short time to unfold and there may not be much warning ahead of time, so it may be best to make your provisions sooner rather than later.
The biggest news affecting the survival of this economic depression has to do with the coming hyper inflation that will most likely appear in the not-too-distant future. This means that any savings you might have, including retirement accounts, will be worth much less, if not almost totally wiped out, soon.
So, now would be a good time to make some adjustments to your bank balances, 401k's, stocks, or other accounts. The big question is what to move the paper assets into from those accounts. The answer would hinge upon the most likely scenario to arise.
But first, as a side note, as any true friend should outline, the opinions given are not to be considered financial advice. These are only my opinions and what I would do but not to be considered professional advice. Of course, as many can tell you, most professional advice has led to the loss fortunes in this past year.
If you do seek professional financial advice, be cautious. Most advisers are still recommending strategies such as the old "buy and hold" methods that will lead to disastrous results, if followed. The ones that offer this advice should be avoided like the swine flu, in my opinion.
And now for the meat of the article. The inflationary strategies being undertaken in order to counter the deflationary effects of this depression should take affect shortly. But they will lead to the value of money to go down with regard to certain necessities of life such as food and energy.
So stocking up on food and driving a vehicle that conserves on gas would be two obvious answers. Other places to move your money to could include hard assets such as gardening supplies and seeds or warm clothing and hand tools.
Candles, toilet paper, batteries, wind-up flashlights and radios, converting to solar or wind power, wood or pellet stoves and fuel, and putting in a water well can all be good choices. Other items that might cost you more soon could be firearms, ammunition and other hunting supplies. If you have any extra supplies, some of these type of things could be valuable for bartering or trading for other items.
If you have a lot of paper assets left over, precious metals have been the usual method of preserving wealth in the past. Much of this material has been covered in past articles so to avoid repetition, I will only try to publish new material as it becomes available regarding this topic in the future. Therefore, you may want to review the archives of past articles for basic information that will be helpful and to brush up on good strategies.
As seen today, the precious metals have jumped in price quite a bit this morning. That could mean that time is running out to get into some of these assets listed above. Oil has also went back up over 71 dollars a barrel. The economic movements discussed here may take a very short time to unfold and there may not be much warning ahead of time, so it may be best to make your provisions sooner rather than later.
Excellent as usual. You are correct; the "financial experts" have really not been very helpful in our current situation. I personally put more trust in the weatherman to get the weather right than the financial gurus to steer us properly concerning the economy. It is interesting that China is now apparently chiding our leaders concerning our monetary policy. Maybe they know something that American leadership does not. Time will tell.
ReplyDeleteThank you for the nice words. And thanks for stopping by and commenting regularly. I try to get articles up as much as possible but sometimes it's hard being the primary caregiver for the wife who has cancer and us having 7 children, even though I should have time since being unemployed here in Michigan for awhile.
ReplyDeleteI agree with you seeking for financial advise is not really worthy unless you are consulting to a renowned professional in this matter since most financial advisers just keep on saying same stuffs.
ReplyDelete