While the markets spin out of control, foreign investors jump out of our market, and the interest rate for a 30 year loan goes up by 1%, you have to concentrate on the basics.
Check yourself out. Here are the questions you should be asking yourself:
Are you out of debt?
Do you own your possessions?
Do you have enough food to survive for six months?
Do you have physical control of your currency?
Do you have enough currency to pay your expenses for 6 months?
Do you have alternative incomes?
Right now is the time to prepare for what is coming. Liquidity is going to give you enough flexibility to adjust to the market conditions. Food and expenses paid for will give you flexibilty to adjust your job to the new market conditions. Alternative employment gives you an edge and lowers your cost because you don't spend as much on leisure activities.
Take advantage of the calm before the storm. I hope you are enjoying your popcorn during this epic saga. It is quite interesting.
Did you see gold today? 907.00 +23.90
A hobby blog/discussion about financial matters. A place for commentary and sharing of information between John and our viewers.
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6 comments:
Are you out of debt? Good idea regardless of the day or time.
Do you own your possessions? Again always a good idea.
Do you have enough food to survive for six months? Mormons and the Amish keep a year supply aside and we should all keep more than a day or two.
Do you have physical control of your currency? Not always possible but everyone should keep a couple thousand at home for an emergency.
Do you have enough currency to pay your expenses for 6 months? Again excellent advice regardless of the times.
Do you have alternative incomes? You mean like an alimony check. :)
John, you are dead on when you tell people to quit living day to day, hand to mouth and get prepared.
Hey John,
I've seen you get more pessimistic with each passing day. You think it will really be that bad? I mean, I always make sure I have enough food in my house to survive a few months, but are we really going to need that?
How serious is this all? Past few days I've only heard more positive sounds than yours. Most people are in agreement that we are or will be in a recession, but since the rent was dropped the pure pessimism is out of the air.
Are they wrong? Do you know things no one else knows? ;)
In summary, I'd like to hear why you think it will be this bad and why you think the usual media channels don't.
Jasper,
I don't think we can believe in everything the media sages tell us. Look at the facts (at least those that are made public) and draw conclusions yourself. Don't let mainstream media do the thinking for you. I do hope that things will turn out OK but in my opinion it seems very unlikely at this point.
The fact of the matter is NO ONE knows how things will play out (definitely not Bernake) nor the extent of the "slowdown". Still it's better to err on the side of caution.
John, thank you for "translating" certain economic phonomena and sharing your thoughts with us. I appreciate what you do.
a day will come when poeple will throw there gold and silver in the street begging for bread.
Dear Friend of GATA and Gold:
In a new essay GoldMoney founder James Turk, editor of the Freemarket Gold & Money Report and consultant to GATA, reflects on the inflation-adjusted price of gold and concludes that if gold today matched its 1980 high in real terms it would be priced between $2,300 and $6,300 per ounce. The difference between those prices and today's price is government intervention in the gold market. You can find Turk's essay, "The 'Real' Gold Price," at Kitco here:
A day will come when you can us the FED note for toilet paper, what is your point. I will atleast have the option to change my gold in for a foreign currency or a FED $200,000 bill and buy some bread, you can keep those FED noes for wallpaper or for the fireplace.
Propaganda is for the sheep not KIngs!
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