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Monday, September 9, 2019

Economic Crisis-How Likely is One?

Poor Man Survival

Self Reliance tools for independent minded people…

ISSN 2161-5543

A Digest of Urban Survival Resources




The Coming Economic Collapse

Decades ago when I was on the national public speaking circuit, I had the great fortune to meet one of the best motivational speakers of all time-Zig Ziglar.  He had a lot of great stories which carried useful messages but one which I feel pertinent is one he shared about recessions.


Recessions are man-made usually from a nation or series of events which put them into motion through fear, greed or stupidity [or a combination].  Retailers ‘A’ reads a recession is looming and thinks, I’d better take preemptive action by laying off and employee or two and maybe I’d better cut back on ordering more inventory.


The manufacturer now gets fewer orders and they too figure there must be a recession and orders less raw materials and he too lays off a few workers ‘just to be safe.’

Laid off workers spend less at the grocer, the barber, the dry cleaner so they too begin to suspect a recession lies ahead and they lay off workers…the notion of a recession then becomes a self-fulfilling nightmare and the cycle expands.


Money needs to circulate to prevent recessions and as the above scenario illustrates, money is circulated less, increasing the problem. The media, especially today with their anti-Trump bent, nearly salivates to promote the idea of a recession in order to undermine his presidency and the cycle of fear increases among people.


The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. > H. L. Mencken


If an economic collapse were to occur, chances are it would happen rapidly, without warning. The unexpected nature of an economic collapse is one of its integral ingredients—without prediction, the structures that keep the economy intact would fail, with no safeguards in place or attempts made to stave it off.

The US economy nearly collapsed in 2008. With a run on banks the likes of which hadn’t been seen since the Great Depression, panicked investors withdrew funds to the tune of $140 billion dollars—an all time, record breaking high. If the withdrawals hadn’t stopped when they did, the US—and probably global—economy would have ground to a halt.

That doesn’t just mean banks would close and a lot of people on Wall Street would be out of a job. That means planes would stop flying, trucks and trains would stop rolling, and your local grocery store would run out of food.

In the event of an economic collapse, personal lines of credit would disappear. The plastic card you carry in your pocket would become just that—a plastic card, all but worthless. Banks would shut down. Supplies of food, gasoline, and basically everything you rely on being able to buy in the store would become exhausted. Eventually, if the collapse were large and long enough, local governments would shut down—meaning water and electricity would cease to flow. Emergency services might become unavailable. Communication networks could go down.

Economic Collapse: How Likely Is It?

There are several scenarios that could trigger an economic collapse, and though they might seem unlikely, there are factors at play on the global stage that could make any of them a terrifying reality if things were to happen in a certain way.

In the event that the US dollar were to rapidly lose value, it could create hyperinflation. A run on banks could force their closure—perhaps even their permanent dissolution, and as they began to fail they would halt lending, lines of credit, and eventually even cash withdrawal.

If anything catastrophic happened to the internet—some kind of widespread outage that prevented online transactions and international banking to occur—that could lead to economic collapse on a local or global scale. A terrorist attack of sufficient size could halt shipping for days or weeks. A massive oil embargo would have a similar effect.

If something happened in the US that could cause widespread civil unrest—something like supermarkets running out of food—violence could erupt from sea to shining sea. It’s possible that a combination of these events could overwhelm the government’s ability to prevent or respond to a collapse.

Protecting Yourself in the Event of an Economic Collapse

Remember that an economic collapse could happen without warning. Protecting yourself in the event of widespread economic disaster might become difficult. As is the cast in most crisis situations, survival usually comes down to preparation and information.

Though difficult to predict and impossible to stop once it begins, economic collapse would be survivable. Here is a list of steps you can take to be better prepared in the event that something like this should occur during your lifetime.

Educate yourself on basic economic principles and keep an eye on the markets so you can attempt to spot signs of instability or the potential for economic collapse long before it occurs. Know what constitutes a stock market crash, and if one occurs, realize that a recession is likely to follow. Carefully monitor economic indicators in that event so that you have as much warning as possible, should things become much, much worse.

The more liquid your assets are, the faster you can withdraw them from banking institutions should the need arise. Make sure you can get to the bulk of your money within a week’s time. Cash may become worthless in a total economic collapse, and the old idea of stockpiles of gold bullion isn’t a practical one—gold is heavy, difficult to transport, and perhaps most importantly, needs to be guarded. It may be better to put your money into something useful, like dry goods, certain kinds of over the counter medicines, anything that would have low or no supply and high demand in a post-collapse economy.

Keep your travel documentation and passport current so that you could, if the situation called for it and you had enough advance warning, leave the country to ride out an economic collapse. Research likely places you’d want to travel to in that event—places that would be easy to get to, would allow you in, and in which you could stay for a few months, minimum, while the worst of the crisis played itself out.

Though it may be unlikely, it pays to be prepared, and by following the steps above, you could take the necessary steps to keep yourself and your family safe in the event that the economy should completely collapse. Keep your eyes open!

To your survival,
Richard Marshall

P.S. I recommend you take this short quiz to assess your financial vulnerability in the event of an economic collapse. If you’re anything like me, you’ll be shocked at the results.

It's far better to be a year early than a date late when preparing for crisis…


This week we speak with a man who lived through that experience, has since immigrated away from the devaluating situation, and is a three-time published author. He helps readers and his youtube channel viewers, to better understand common sense ways for safely surviving through a severe financial crisis, even while living in a major metropolitan area.


Data is coming at investors from every angle with so-called recession indicators flashing signs of an economic slowdown brought on by slower growth abroad and the U.S.-China trade war. A slowing global economy is pressuring central banks abroad to lower borrowing rates at unprecedented levels and a tit-for-tat tariff war between Washington and Beijing is weighing on business sentiment.


“Take a deep breath. There is not enough evidence to suggest we are on the immediate verge of recession,” said Steve Chiavarone, a portfolio manager and equity strategist at Federated Investors.
Chiavarone said his firm tracks six economic indicators to try and forecast when a recession might be nigh.


Democracy is a pathetic belief in the collective wisdom of individual ignorance. > H. L. Mencken



First, there was the dot-com bubble, crash, and recession. Then, there was the housing bubble, crash, and Great Recession. Now, there's a new bubble that many people are calling the 'everything bubble.' Just how bad will the crash from this one be? And will it result in a mere recession, or will it be the next Great Depression?

 No one knows for sure, but there are many warning signs that the next crash is almost here. That means there is very little time left for procrastination. If you want to be ready for the next major downturn, there are some things you need to take care of ASAP.

 In this video, Serious Survivor lists 10 things you should do before an economic collapse. Here's his list, counting down...


Amid Trade War Trump Economy Continues to Grow

The reality is that since Trump won the 2016 US election the US stock market is up 48% whilst China's is down 6%. Which illustrates the degree to which China has LOST the trade war.


Persistent weakness in China’s vast manufacturing sector could fuel expectations that Beijing needs to roll out stimulus more quickly, and more aggressively, to weather the biggest downturn in decades.


Yours for better living,

Bruce ‘the PoorMan’


News of Note

I found an email that paypal had closed my accounts.


Well, their “friendly” customer service email said I violated the following guidelines…

((j) ammunition, firearms, or certain firearm parts or accessories, or (k) certain weapons or knives regulated under applicable law.

Now, to be clear, I’m not selling guns through paypal. What I sell is firearms training videos and books.

And get this…

They even shut down my account for my consulting business that doesn’t have anything at all to do with firearms products.

And, you know what?

I’m not going to try and get my accounts back open.

If they don’t want my business- good riddance.

But, it is getting pretty amazing (and not in a good way) the number of companies that don’t want my business and totally disrespect the 2nd Amendment.

Google, Facebook, Dick’s Sporting Goods and now Walmart has even become spineless too.

I think Federal Judge Stephanos Bibas said it wisely when talking about the 2nd Amendment…

"The Second Amendment is an equal part of the Bill of Rights. We must treat the right to keep and bear arms like other enumerated rights, as the Supreme Court insisted in Heller. We may not water it down and balance it away based on our own sense of wise policy."

Just imagine if Walmart came out and said…

“We have decided to pick and choose what words we will allow people to say in our stores. There will be signs throughout the store notifying you of what is permitted. One of the signs will say, ‘you are not allowed to say Walmart is a dirty store’.”

Pretty ridiculous, right?

People would crap their pants if the 1st Amendment was treated like the 2nd Amendment.

Which is why good people like you, can’t be shy about supporting our rights.

Join the NRA, buy guns (lots of them, of course), don’t be afraid to voice your opinion

P.S. Even my Bonanza storefront won’t allow me to sell hunting knives, red dot laser sights, or anything gun related!  I’m considering dumping them in favor of a stand-alone site.



A Final Note…

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Ron said...

Tough to know which way the wind is blowing; however, odds do favor a recession simply due to the cyclical nature of economics. Good advice for hunkering down.

Stephanie said...

Insightful, useful & timely.

Tammy said...

Tough to know which way the wind is blowing but I am tired of leftist media and socialists sounding as if they're drooling in anticipation of one so it will hurt Trump's prospects for reelection. Like your blog cautions-best to expect the best but prepare for the worst.

Tim said...

Our family have tried to be good 'Scouts' & have made extensive preparations during the past 10 years &* have rid ourselves of debt and stocked up on a one year supply of food & other essentials.