OUR GOVERNMENT CAN NOT SPEND OUR COUNTRY INTO TRLLIONS OF DOLLARS OF DEBT WITHOUT CONSEQUENCE.
I am working on my next set of forecasts and seminars but before they are out, I want everyone (and I mean EVERYONE) to consider 3 simple things to gain greater financial peace of mind:
Diversify away from paper assets. As I have written before, paper assets have “counter-party risk”. Any “paper”investment that you have (such as stocks, bonds, ETFs, mutual funds, cash accounts, etc.) have counter-party risk. In other words, that investment’s value is tied to someone else’s promise or performance. A stock can go worthless if that company ceases to perform well (or just ceases to perform!). Bonds can become worthless if the borrower can’t or won’t pay. What should you consider? Add some gold or silver physical bullion to your asset portfolio. Gold and silver bullion are among the very few investments that do not have counter-party risk. They have their own, unique intrinsic value and that has been true for thousands of years. It will continue to be true for years to come.
Accumulate essentials. As odd as this may sound for some of you, consider starting a pantry or otherwise consider stocking up on essentials such as non-perishable foods, extra water, etc. No…I am not asking you to become a survivalist or a hermit. I consider this is to be just another form of diversification. The world is too precarious right now and is quite vulnerable to disruptions. Severe inflation is not far off. Potential problems can come from a variety of expected and unexpected venues. What do you think will have greater value a few years from now…a dollar or a can of soup?
Re-focus your portfolio with emphasis on “human need”. You should consider stocks and ETFs of companies and industries that provide goods and services that are actually NEEDED. Think about what people will continue to buy no matter how good or bad the economy is. I think that part of your long-term picture should include commodities.
Trillion-dollar tinkering will continue in Washington. Ongoing massive blunders and financial difficulties will need to be faced by all of us. Take steps now. You will be glad you did.
More Here...
There is another reason to accumulate assets: Sadly, many companies are going out of business now. You'll be able to acquire things more cheaply when stores are liquidating.
ReplyDeleteAlso, if you are a cautious grocery shopper, keep an eye on the dry/canned products. Most stores include "loss leaders" in their weekly specials. These are things being sold almost at grocer cost, in order to bring traffic in the store, hoping to increase traffic. This would include toiletries, paper goods, cleaning supplies, etc.
Accumulating essentials is sound, regardless of the state of the economy, btw. About 15 years ago, I endured a power outage that lasted one week. Unless you have been through one of these yourself, you have no clue how fast life goes down the crapper. Banks, gas stations, stores...closed. No power, no water (if you have a well). It stops being a fun "campout" at 24 hours. By day three, every other word out of your mouth is "four-lettered."
It is amazing how much different life is between rural America and in the towns and cities.
ReplyDelete10 years ago we moved back to rural america
to retire on 60 acres. Out of necessity we
have our own water wells, livestock, gas well,
whole house generator and large garden and greenhouse.
Our life will not change much when this house of cards comes crashing down - but boy; I remember living in the 'burg. I would be doing everything above times 2 !
Good one 4:37, Although I have never lived in a large city or surrounding area, I have lived all my life in the country. We live on 30 acres, of wooded and pasture land, with livestock, I had begun to build my "larder" of canned, freeze dried food and water. It sounds as though you and I are quite in close in the preperation part. Many will read this and say we are some kooks, thinking we are survivialist. Like you if you lose any of the vital utilities we take for granted, you too will become a believer.
ReplyDeleteDo I feel that this country is headed for some rough times ahead? I personally do not see haw we are going to avoid it.
Best advise, Get prepared.
i live by the jungle so naturally i have a forest farm where i throw seeds on spots i want to grow my favorite fruits
ReplyDeleteAgain, keep the preps to yourself and spouse!! Don't tell even your kids, relatives, neighbors, church folks co workers, even friends! Be discrete and quiet. It will be everyone for themselves when no one can be trusted, at least in the earlier stages of shtf; but in time, you will meet others with preps, for friendship and bartering forming a small community within cities, towns. But now is the time to pare down mediocre friends and associates and choose wisely.
ReplyDeletewhy keep preps to ourselves? mustn't we encourage all community members to prep so when shtf everyone has food?
ReplyDeletewhile I think prep is good, moving out to the country and building a fort is foolishness...people like me know people like you are out there, and will come in numbers, heavily armed, to 'share' in your provision.
ReplyDeleteso unless you have an army in your fort you'd be better off in a community of like minded friends that you can and will share with, and they with you, because when the pinch comes, no amt of prep will make you safe.