Hi Frank,
Thanks for a copy of your book. I'm part way through and find it very
interesting.
As to your question, a financial collapse always affects different
people different ways depending where they live and their personal
financial situation. Generally, a skilled person who uses common sense
will do much better than other people. So, giving personal advice is
hard. I can only suggest guide lines that I attempt to follow.
The process will have two stages, an acute stage during which basic
services may be affected in a few areas and a chronic stage during
which the suffering will spread to almost everyone. The acute stage
was avoided last time in 2008 while the chronic stage continues. The
acute state was avoid by pumping a huge amount of money into the
system by the Federal Reserve. This process continues and will fuel
the next collapse. The government is trying to lessen the effects of
the chronic phase but the Republicans are resisting this effort in
favor of protecting the wealthy who are not affected by the process.
So, the rest of us are on our own.
So, what should an individual do? First, pay off all debt and take on
no more. Buy gold and silver (I favor high quality coins) as a hedge
against inflation and have cash in your home in case your bank has to
close for awhile. Save every cent you can and buy nothing that is not
essential. Learn how to invest your own savings in an IRA or personal
account using internet trading. This tool is an amazing gift of the
modern age that can allow a person of knowledge to avoid the worst of
the collapse. In any case, sell any bond funds you have. If you can,
move to a place where you can count on protection and access to basic
services. And finally, do not worry - no event is as bad as it can be
imagined.
Sorry if this is too personal and off topic. Hopefully this advice is
of interest to other people.
Ed
On Jan 27, 2013, at 8:52 AM, [email protected] wrote:
Ed, Where can we hide?
I have studied hard and obtained 2 and 1/2 college degrees, have
worked overtime for 34 years, and have downsized as companies
closed down five times. There is no chance that Bethlehem Steel
will ever hire me back. Same to say for the rest. I have saved
some in my 401 K. I have earned social security. I have a small
defined company pension. Got it while they were still giving it.
The sum total is nothing glorious; however I did what they told me
and kept my nose to the grindstone. I hope to have a used car in
my future. Many are worse off.
I have been doing contracts and have recently noted that nobody
wants you much over 60. They don't want you full time after 42. .
They want a young man that they can dispose of. They want to set
him up for no job after forty. They want the middle age man just
in case business conditions warrant that they might need him for a
longer time. I have no clue what the young man is going to do.
Who is my dentist going to bill excessively?
Where do we go after 60 when all of the savings and entitlements are
gone? I don't have another life time to do it again? There are a
lot of us in this boat. I have been told that the Obama Care death
panel may have an answer.
Surely it will not end like this, this is America, it will be
better. There may even be new productive opportunities begging to
be filled. Maybe the assets invented in the entitlements will soar
to new heights.
What is your plan Ed? Please let me know.
Frank Znidarsic
