Obama Saves the World From Financial Ruin & Other Political Follies

Poor Man Survival

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A Digest of Urban Survival Resources

Courage is the strength to face pain, act under pressure, and maintain one's values in the face of opposition.
- Eleanor Roosevelt

Is our economy that of the zero sum game theorists where essentially no one wins…and we all lose in the end?

An article from Bloomberg caught my eye. The theme of the article was that China was in the midst of a debt bubble just like we were in the states back in 2005-2007. The Chinese economy has slowed big time. Debt levels keep increasing. And yet property values also keep increasing. And just like in the U.S., the bubble will pop and a lot of debts will become uncollectible. You can read the article here.

Why should you care? One reason sticks out. It may take awhile, but eventually you'll pay more to borrow money (no matter how good your credit score). The Chinese have already slowed the amount of U.S. Treasury bonds that they're buying. That will mean a higher interest rate for treasury bonds and everything else.

That'll hurt people in debt. The solution is to reduce the amount of debt you have with the goal of becoming debt-free.

I watched the PBS Business News Hour last night. Virtually every stock indicator is down. Oil firms are swimming in red ink, Apple stock is down $43 billion in value, Twitter stock is falling, Whirlpool, etc. The same is happening is Asia, China, South America and in many parts of Europe.

And did you know…China is buying the Chicago Stock Exchange?! This was announced in early February-members of both parties denounced the takeover and called for the Treasury Department to investigate the proposed sale but I sure never heard anything about this on TV news!

In recent days, Barack Obama has been running around boasting that he saved the world economy from another Great Depression.  But that isn’t true at all…

The way that Doug Casey recently put it…

You’ve got to remember that all of these governments and central banks all around the world have driven interest rates not just to zero, but to negative levels in some cases… and they are simultaneously printing up trillions of currency units. And even while they are desperately doing that the economy is falling apart in lots of different ways.

…They’ve created a super-bubble in bonds, a bubble in stocks, and meanwhile commodities have collapsed and are below production costs in many cases.

…The economy is going to be very, very bad… It’s the next stage of what I call the Greater Depression. 

Further>>

Black swan events [unknown risks] seem to take place more frequently. For years I’ve warned readers to steer clear of the stock market. After losing thousands in the market [yes, I’ve also made some money] but overall, I think it is too volatile for the small guy who, at least in this country, has a tough enough time affording his medical costs or putting food on the table.

In many respects I feel Wall Street and the government bailed on main street a long time ago. Obama just vetoed a raise for our troops but wants a hefty raise for himself [he’s already overpaid and has spent over $100 million on vacations-more than any other president in history…seems he’d rather play golf than worry about national or international affairs].

If another financial crisis is about to hit as many are predicting, its aftermath will be the perfect opportunity for leftists to herd the sheeple into ever more repressive laws like the un-Patriot Act, move us toward the cashless society so the government can better track us and so on.

As I’ve repeatedly advised: It is time to get a significant portion of your assets outside of the stock market and banking system and put your money into the Poor Man’s gold-silver coins, food and gardening stock seeds, bartering goods, guns and ammunition, small farms and rural land with small livestock for food, etc. Growing and eating your own produce is like having money in the bank.

You can purchase various types of heirloom, open-pollinated seeds from specialty seed firms and might check out Seed Savers Exchange [563-382-5990] or www.seedsavers.org which is a non-profit dedicated to sharing heirloom seeds. Seeds can one day prove to be another useful item for barter as well.

Developing personal skills and sideline businesses which enable you to generate extra cash which you can use to acquire the above mentioned items and/or to pay down or eliminate debt is the wiser course of action.

Always try to keep as many options opens as possible because as I pointed out earlier…you never know when a Black Swan event could occur.

Additional Resources

How to Save $1,378 in 52 Weeks

Saving more than $1,000 throughout the year is hard, but it's not impossible. By making small adjustments and changing up your daily routine, you can easily save a significant amount of money in just one year. And the 52-week savings challenge can help.

In this challenge, you will save the dollar value of the week you're on. So for Week 1, you'll save at least $1. For Week 2, you'll save at least $2, and so on and so on.

http://www.gobankingrates.com/personal-finance/save-1378-year-52week-savings-challenge/

Ways to Build an Emergency Fund

Can you do it living paycheck to paycheck? Read more.

 8 dollar-store bargains you shouldn't miss
If you haven't been to a dollar store in a while, you won't believe the savings. And if you do shop there regularly, don't miss these savings!

Yours for better living,

Bruce ‘the Poor Man’

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