How to Survive a Economic Depression
For many years we have been warning of a coming economic crash in America, and since 2006 we have been warning specifically of the HOUSING crisis, and the recession and depression that would follow. You will notice that everything we have been predicting is now coming true. In fact, a number of the most respected economists now state that the USA is already in Recession – beginning in December 2007. Sadly it is going to get much worse. Despite the economy’s continuing downward spiral, all is not lost. There is still time to learn how to survive an economic depression.
That we are witnessing is the ever-growing incompetence and impot-ence of the world’s politicians as they attempt to defy the laws of economics. Trouble is, it cannot be done. Nothing a government can do will stop the readjustment required to drive bad debt out of the global economy. Trying to halt the flood of business failures, job losses, bankruptcies and all the nastiest that go with a major depression is akin to the legendary little Dutch boy putting his finger in the dyke. You plug one hole only to find five more bursting out.
People all over the world are wondering how to survive a depression. They realize that we are all going through some tough economic times right now. Still, it’s not yet as bad as it was when the Great Depression was going on. The stock market has been dropping for several months now and that is bad news for those who invest in stocks. At some point, I’m sure things will get back on track again, but who really knows for sure how long that could take?
The first thing you should do is make sure that your finances are protected. If you have a lot of credit card debt, get rid of it. Pay it off as quickly as you can. Cut back on things such as eating out so you can pad your savings account with more money.
A special mention should be made regarding gold – an ?ancient relic? According to most modern economists. Gold has functioned as money throughout history. It (along with silver) has been the most trusted form of money over time. The reasons are many, but include such things as it cannot be created (as is paper money), it cannot be forged or copied, it cannot deteriorate, and it has held up over centuries as a trusted store of value.
Do make an effort to find someone you can trust, be it a Doctor, Counselor, Social Worker etc. And then listen to them. A Psychiatrist and Doctor will have seen worse cases than you before. They will have your best interests at heart.
Another issue that requires a practical approach during recession times is the problem of unemployment. As long as you have your job, try and not worry about the future and instead practically plan for alternative careers, such as working online. If you do lose your job, don’t panic and concentrate on exploring other avenues and honing skills that you could be good at.
Bargain Basement: At the depths of the coming depression, those that are fortunate enough to have cash and credit will thrive. Stocks and housing will be at bargain basement prices. I venture to say 20 percent cheaper. Outsmart Warren Buffet and buy some stocks in bell weather companies with strong balance sheets and brands at historic lows valuations. Become a real estate mogul by snatching up a distressed property.
Still needs more ideas on how to survive a depression? Why not have the kids walked to school rather than going out of your way to take them or pick them up. If walking is not an option, have them ride a bus instead. Use public transportation instead of your own vehicles.
Crisis always offers opportunity, if you know where and when to look. And the key to surviving the new depression is to stand well clear of any mob psychology, avoiding both market? panic? and?euphoria?. If you play your cards right, you can financially benefit from such a depression by keeping your head and having sufficient cash on hand to go bargain hunting when the time is right.
For more free details Visit :- Coming Depression
Source:- http://www.thecomingdepressionblog.com/how-to-survive-a-economic-depression/
Processing your request, Please wait....
