What do you do when/if the global economy collapses?

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Re: What do you do when/if the global economy collapses?

Postby Steve James on Tue Sep 30, 2014 5:33 pm

That's why I mentioned "building local and regional networks for sharing and trading food, crafts and skills". It's probably the most important one of all, rather than "self sufficiency".


Agreed.
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Re: What do you do when/if the global economy collapses?

Postby emptycloud on Tue Sep 30, 2014 11:05 pm

http://youtu.be/EzZzZ_qpZ4w

anything is possible...

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Re: What do you do when/if the global economy collapses?

Postby emptycloud on Tue Sep 30, 2014 11:38 pm

Dmitri wrote:That's awesome Rich -- regardless of the possibility of zombie invasion. 8-)



we will provide salad whatever the outcome....possibly green smoothie... :)
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Re: What do you do when/if the global economy collapses?

Postby Interloper on Wed Oct 01, 2014 9:27 am

Dmitri wrote:I wish there was a website that would track, chronologically, how many times in the past it was said that we only have a couple of months, and then all hell will break loose... Over, and over, and over, and over, and over, and over, and over, and over, and over again. Months go by, nothing happens, but nobody seems to notice that all the predictions fell on their paranoid faces, and it comes up again. And years go by, and nothing happens, and it comes up yet again. And here it is now, again, for the umpteenth time. It doesn't seem to matter that there is no solid evidence whatsoever of any such definitive threat (not talking about a "possibility of a threat"). It will always come up; people seem to enjoy these "potential scenarios"... I have a couple of friends that do this all the time. I guess as a psychological mechanism for coping with it if it were somehow to ever happen? I dunno.


I'm pretty sure the Rapture was supposed to happen a while ago, too. We're still waiting, but maybe it will come before the economic collapse, which would free at least some people here from having to deal with bank foreclosures, soaring utilities and grocery prices, and unpaid parking tickets.
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Re: What do you do when/if the global economy collapses?

Postby Steve James on Wed Oct 01, 2014 11:53 am

Meh, which is more threatening, economy or ebola?
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Re: What do you do when/if the global economy collapses?

Postby Michael on Thu Oct 02, 2014 5:55 am

As I understand meagerly, the international currency markets turnover trillions per day in USD. Transitioning that to another currency is a major obstacle. Can't be done in one go to another country. What we really need is a big war, during which new banking institutions and a reserve currency of the winners could be declared a year or so before the end of the conflict. Sounds vaguely familiar somehow.
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Re: What do you do when/if the global economy collapses?

Postby Steve James on Fri Oct 03, 2014 9:08 am

It won't be the economy or ebola; it'll be panic.

(Btw, you can get ebola the same as you get HIV).
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Re: What do you do when/if the global economy collapses?

Postby Dajenarit on Fri Oct 03, 2014 11:01 am

Its not so much that people cry the sky is falling all the time. Its more about that 1 time that it actually does happen when 99% of every day you and me people, are caught unaware with their pants downs that is gonna cause the problem. The government isn't gonna warn people about signs and trends of its own imminent collapse. They'll keep propping up the system, cheese grinning on camera and ordering the media to tell people everything is a-ok till the very last moment. Politicians have already had their plan b's and c's ready, just in case, for decades.

This is all just hypothetical of course but when the Federal Reserve ends qualitative easing I don't think its gonna end pretty or well. On top of that BRIICS nations and others are actively trying to establish a new reserve currency while our government kicks and screams and instigates wars to prevent the inevitable instead of dealing with the problem reasonably and gracefully while the chance is available. I mean some of the economists that were also ignored in late '07 before the last crash are predicting the same scenario. All Wall Street did to solve that problem was to create another bubble. Stocks are through the roof backed entirely by Fed printed paper.



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Re: What do you do when/if the global economy collapses?

Postby Dajenarit on Fri Oct 03, 2014 11:42 am

Something closer to real analysis (minus the FOX talking heads) without the doom and gloom tone. Peter " I was right after all" Schiff explaining why creating a bubble bigger than the last one to solve the last crash is only pushing the problem into the future. Meanwhile the wall street fanboys are just gonna keep cheerleading the economy off of a cliff...smh.



Some other food for thought viewpoints. Take it as you want of course.

The same situation has been rolling along for the last 5 years after the last crash in complete denial by the government. Listen specifically to what he says about Libya and the overthrow of Gaddhafi. Is there a pattern of America attacking countries politically or physically if they actively seek to find a replacement for the dollar? I mean you might already know the history of America's government attacking countries that try to gain economic and democratic independence but I'm talking specifically about the recent wars being prosecuted to prevent other reserve currencies from gaining a foothold. No one is gonna do business with an unstable country. Libya, Syria, and now China and Russia not be attacked directly but through neighboring proxies. There are probably others I haven't thought of.













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Re: What do you do when/if the global economy collapses?

Postby Peacedog on Fri Oct 03, 2014 12:52 pm

Remember that when you build your fortified compound to drill a well. And have a generator. :)

The tin foil hats don't keep in much body heat.
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Re: What do you do when/if the global economy collapses?

Postby Dajenarit on Fri Oct 03, 2014 1:09 pm

Lol They really don't. Thank for your always "insightful" contributions.
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Re: What do you do when/if the global economy collapses?

Postby Steve James on Fri Oct 03, 2014 1:58 pm

Gold Sells Off on Upbeat U.S. Jobs Data, Drops Below $1,200 to 9-Mo. Low

http://www.kitco.com/

Buy now before it's all gone? Or, hope job data doesn't improve?
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Re: What do you do when/if the global economy collapses?

Postby Dajenarit on Fri Oct 03, 2014 2:10 pm

Is job data really improving? I keep hearing differing conclusions. Whats the real unemployment level without the accounting tricks?
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Re: What do you do when/if the global economy collapses?

Postby Steve James on Fri Oct 03, 2014 2:33 pm

Well, one can always disagree with the source of job data, but the spot-price of gold is objective fact. Anyway, I just wrote in response to the video about China exchanging gold for dollars.
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Re: What do you do when/if the global economy collapses?

Postby Andy_S on Sat Oct 04, 2014 2:03 am

To answer the OP:
If that happened, I would stroll around with a big fat, cheesy grin plastered across my mug as it would mean everyone else would be poor like moi. But - aha! - I have had much more practice!

Seriously: I have lived through one economic crash (Seoul, 1997, 1998) and watched another (GFC in 2008) from the sidelines. In both cases, things turned round without worst case scenarios coming true.

In fact, the 1997-8 economic crisis was, I would say, a good thing for the Korean economy: It put a halt to a lot of very bad practices that had built up over time. It is a bit early to say that about the GFC, but the fall of several casino banks and the increased awareness and oversight of the rest is no bad thing.

I once interviewed uber investor Marc Faber aka "Dr Doom" (with that moniker, he ought to post on this forum) and one thing he said always stayed with me:
"Good times are never as great as they seem, and crises are never as bad."

Even the Great Depression - which shoveled the Nazis into power in Germany, and pushed Japan towards hardcore militarism - passed. Yes, there was a very big war, but the world recovered.

The BRICs are moving - but often in different directions. Yes, they may have put together a bank, but what do the Brazilian and Russian political economies really have in common? (Another chap I once attended a press conf with was the Goldman Sachs chap who had invented the term BRICs - but he did not consider them a single polity or economy, BRICs was just a useful shorthand term for fund investors in emerging markets). The global economy as we know it is changing - but not at a radical speed.

So keep calm and carry on.
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