Poor Man Survival
Self Reliance tools for
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2161-5543
A Digest of Urban
Survival Resources
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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
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.
Here’s a
list of recession signals that are flashing red-the
rich aren’t spending
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.
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
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…
Contributors and subscribers enable the Poor Man Survivor to post 150+ free essays annually. It is for this reason they are Heroes and Heroines of New Media. Without your financial support, the free content would disappear for the simple reason that I cannot keep body and soul together on my meager book sales & ecommerce alone.
Useful
Resources from our storefront-See new items!
You Can’t
Buy Life Insurance After You’re Dead-Prepare NOW for Emergencies…
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4 comments:
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.
Insightful, useful & timely.
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.
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.
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