Economic Turmoil

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ryansride2017

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First off, I don't want this to be a political post. I won't refer to either political party as both have put us in our present position. The point of this thread is how to fix the system and prepare your own assets for what is to come as it will affect each and every one of us.

Over the past few weeks I've been having more anxiety regarding our nation's debt and the related future problems. I see a time in our not too distant future where the dollar completely breaks down and becomes worthless (as it has in other countries that have gone down the same road we are on...but our situation is worse due to the amount of debt).
I have a wife and three young boys and I want to be able to prepare so they are taken care of when/if this occurs. Are you stockpiling any consumer goods? Are you changing your investment strategy?

I don't think budget cuts will be the answer...the size of the debt is too large at this point. Plus I don't think people comprehend how much in cuts are necessary just to make a dent in the problem. I predict the following things will happen:

1. Dollar will no longer be the world currency, causing mass inflation in our country like we have never seen.

2. For a period of time our economy will completely fall apart because the dollar is worthless.

3. There will be widespread looting, riots as people steal from stores and neighbors for food, water and supplies.

4. Our economy and society will look similar to what it was in 1900, not 2011.

Does anyone agree with me that it will get this bad? What other solutions could there be to get us out of this position we are in so I can sleep better at night?
smile.gif


I realize this thread is a tightrope, so reply to the topic I wrote about instead of blaming anyone.
 
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I think our society will eventually collapse. I'm not sure there is that any plan will be helpful..unless you are Bill Gates or Opra and can go build an armed doomsday place and even that won't last.

As you can tell I am pretty optimistic. But I've had a great life and I'm 65.
 
I like Al am 65, my path/future is pretty well fixed with social security and pension. I do worry about my kids and grandkids though. I only have one solution, I get on my knees every night and ask the good Lord for direction and trust He will take care of it.
 
gold, silver,water purification or filters, seeds,tp,rice ammo,fishing tackle.......just a start.
 
Originally Posted By: Johnny
I like Al am 65, my path/future is pretty well fixed with social security and pension. I do worry about my kids and grandkids though. I only have one solution, I get on my knees every night and ask the good Lord for direction and trust He will take care of it.


I do the same and it definitely does help.
 
Originally Posted By: salesrep
gold, silver,water purification or filters, seeds,tp,rice ammo,fishing tackle.......just a start.


Do you purchase gold and do you have it physically with you (about the only way I see it being useful and safe)? The way I see it, possessing gold won't make you rich, it just gives you the confidence that you will have some asset (albeit at a much smaller total investment than it is today) at the end of this. I think I would buy some if I knew the best way of buying it as well as storing it at my residence.
 
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I've been preparing myself....but honestly, there is not much you can do. You can have all the stuff you need, only to find someone burn down the house you live in, like as my BIL is preparing (a suggestion brought up by one of his good friends)


I see a major bad thing happening this fall which will change everything, which will lead to 2012. (and not the end of the world type thing-yet)I have a family myself, so it's not something I want to think about either.

I hope I'm wrong, but either way, I've stopped caring about it. I'm just going to keep on doing the same things (almost) that I'm doing now. And make sure I am able to do things that I want, like spend extra time with family and friends.


I plan on enjoying what I have, not changing myself as the person that I am. Because I never know what day will be my last.
 
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Originally Posted By: salesrep
gold, silver,water purification or filters, seeds,tp,rice ammo,fishing tackle.......just a start.



The simple stuff.....
 
Many people feel the same way, Ryan. Google Mike Dillard Elevation Group for one perspective.

Wa state has introduced legislation that would make you and I register every gold purchase, watch for other states to follow.

It's getting crazy out there. Will this economic armageddon take place?
21.gif
 
Originally Posted By: salesrep
gold, silver,water purification or filters, seeds,tp,rice ammo,fishing tackle.......just a start.
Im doing that as well.
 
"
I plan on enjoying what I have, not changing myself as the person that I am. Because I never know what day will be my last."


I agree.
 
When QE2 expires, on 6/30, what will happen at that point...QE3?

It's not alarmist to say that the world as we know it will change drastically once we default on the first debt payment and/or inflation kicks into overdrive. The dollar will be worthless. I don't think gold will fare much better.
 
We have some good stuff.

Tons of farmland! If we stop turning corn into alcohol for fuel we could feed all kinds of beef. If that's too much we can all become vegetarians.

Clean water, coal, wind... Find maps of natural resources, name your pick, we aren't bad off.

Now OTOH think of all the crazies when they all go off their Prozac. The unaffordability or unavailability of medical care is IMO going to be a decent player in civil unrest.
 
The next 5-10 years could be very turbulent in this country. The prices of fuels, foods, and clothing are getting crazy. I was in the supermarket the other day doing my shopping and I decided to buy a hoagie. I then thought to myself that I needed a squeeze bottle of Miracle Whip for dressing for my hoagie. I bought the medium sized bottle and paid $5.79!
I think I spent $84 and had three plastic bags. We are a nation of a small percentage of haves and a large percentage of have-nots. I'm just wondering how long it's going to be before the have-nots rise up and say "enough" and try to do something about it?
 
What I see happening rather than a total economic collapse is more of what has already been happening. There will be more of a two-class system of poor,lower class and the wealthy class. There's still plenty of money in this country, it's just all in a small groups' hands. Most government spending will be on law enforcement to keep the poor inline. The economic system will be kept going one way or another no matter how bad it is for most of the population.
 
Originally Posted By: mechanicx
What I see happening rather than a total economic collapse is more of what has already been happening. There will be more of a two-class system of poor,lower class and the wealthy class. There's still plenty of money in this country, it's just all in a small groups' hands. Most government spending will be on law enforcement to keep the poor inline. The economic system will be kept going one way or another no matter how bad it is for most of the population.


And how do you believe the debt situation will be resolved?
 
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