What to do when inflation rages | |
Anonymous Coward User ID: 82121352 United States 05/18/2022 12:35 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79368535 United States 05/18/2022 12:38 AM Report Abusive Post Report Copyright Violation | |
darth
(OP) User ID: 28178764 United States 05/18/2022 12:46 AM Report Abusive Post Report Copyright Violation | Yup, that is how that failed artist became the scourge of Europe. I seriously think we will have domestic political violence. I just picked up a book, History of the Third Reich by Bradley. He is a historian who was imprisoned by the Notsees and later by the communists. He goes into incredible detail on the leadup to the Third Reich. There was fighting among many factions. Total chaos. And one man promising to make it all right. In the end, 50 million dead and Europe in ruins. |
Anonymous Coward User ID: 83275814 United States 05/18/2022 12:47 AM Report Abusive Post Report Copyright Violation | Its all fun and games until you are dealt the same hand those under you are dealt I see many friends struggling to keep going about their daily lives. Increased costs are slowly eating away at their weekly capabilities. Yes, plenty of people are able to shell out some big $$$ and make money in the process. BUT how far can this go? I mean eventually the prices will be so astronomical that even the rich will struggle to keep up with their expenses |
Anonymous Coward User ID: 60467726 United States 05/18/2022 12:53 AM Report Abusive Post Report Copyright Violation | The best protection against inflation, and meddling by society in general, is minimizing consumption in fiat by becoming as self sufficient as possible. This generally falls under op's category of acquiring productive assets but the end goal is not income generation or wealth preservation. Instead, it is freedom from both monetary and legislative oppression by eliminating unnecessary consumption. This produces a more resilient and federated society and should be a major initiative for civil defense in a just world imo Anyhow, good advice about preserving purchasing power during inflation in general, op. I appreciate it. |
Anonymous Coward User ID: 80575336 Portugal 05/18/2022 12:59 AM Report Abusive Post Report Copyright Violation | Spent $80 bucks filling up my pickup today. Sucks. Sucks bad. Passed a semi on the way home from the filling station. Semi was hauling a load of hay. It had two big fuel tanks one on each side looked like at least 100 gal each. Thought to myself it's gonna cost him a bundle to refuel. Ha Ha Ha It's a freak show. Ha Ha Ha |
darth
(OP) User ID: 28178764 United States 05/18/2022 12:59 AM Report Abusive Post Report Copyright Violation | Its all fun and games until you are dealt the same hand those under you are dealt Quoting: Anonymous Coward 83275814 I see many friends struggling to keep going about their daily lives. Increased costs are slowly eating away at their weekly capabilities. Yes, plenty of people are able to shell out some big $$$ and make money in the process. BUT how far can this go? I mean eventually the prices will be so astronomical that even the rich will struggle to keep up with their expenses I honestly worry about my workers at my manufacturing company. Almost all are immigrants (I only hire the LEGAL ones). They have a decent basic education, but they live paycheck to paycheck. I advised them in a company Safety Meeting TWO YEARS AGO to stock up on basic foods like beans and rice. Most of them grew up poor, so they know how to live cheap. Most of them pack a lunch from home and drive older cars. However, this economic news flies right over their heads. They don't understand what is happening. One worker, a nephew from El Salvador, got asylum and a work permit from the court. He went to night school and is now a hospital tech. So, with education he moved up in the economy. My plan is to raise the prices we charge our customers and raise hourly rates to keep my workers solvent. BTW, my big customers are oil patch and national defense. I expect that the world will need more oil and weapons, so we may survive. |
Anonymous Coward User ID: 81787588 United States 05/18/2022 01:06 AM Report Abusive Post Report Copyright Violation | Somehow, the morans always think that high IQ or education has something to do with sexual orientation. Quoting: darth The insults are a bit tiresome, but I don't take those ACs seriously. If they insult people IRL like they do on the internet, someone will teach them manners. Pretty sure all the insults are form the same person, who is really really angry that you have given out some good information. Imagine their life, and pity them. |
Anonymous Coward User ID: 80575336 Portugal 05/18/2022 01:29 AM Report Abusive Post Report Copyright Violation | Ha Ha Ha Transportation Secretary Pete Buttigieg, wants everyone to immediately switch to electric vehicles to fight Putin's high gas prices. Went to the car dealer today. Last car I negotiated down 15% below sticker and drove it home that day. Today dealer said I could get one in 60 to 90 days and prices start at 15% above sticker depending on the color and trim level. What goes around comes around. I drove away in my old car. Ha Ha Ha |
Anonymous Coward User ID: 77844279 Ireland 05/18/2022 01:33 AM Report Abusive Post Report Copyright Violation | I have always wanted to distill the most important thing I ever learned in years of Econ classes for my peeps on GLP. Quoting: darth The most important equation you will ever learn: GDP (summation of all goods and services produced in a year) is what we all bought, right? So, that is the average price of an apple times all the apples sold, the average cost of doctor visits times the number of medical visits, etc. Each transaction is in currency whether that is greenbacks, digital, or credit card. So it is the summation of Quantity (Q) times Price (P). We used MONEY to buy those goods and services So, GDP is equal to Q*P = money supply (M) times the Velocity (V) That is the mill pays the farmer for his grain, the farmer buys food, seed, diesel, etc. The baker sells bread and uses the money he gets to pay mortgage, kid's college expenses, etc. So, the actual amount of money in circulation is multiplied by V, the number of times it changes hands. So, GDP = Q*P = M*V If quantity goes up but prices stay stable, then either M or V must go higher. If Velocity, V, is stable, then M must go up. That is why economists generally agree that the Fed must increase the money supply to a growing economy. What happens when people are worried? They hang onto their money longer so V goes down. If they anticipate inflation, they spend it faster, so V goes up. That throws gasoline on the inflation fire. What happens when gold and silver are used as currency? That means the money supply is almost stable, so M never changes. In the 1800s, that is what happened in the USA. The money supply was fixed but the economy was growing. They had price DEFLATION. People waited to make purchases because they anticipated that prices would be lower in the future. It also rewarded savers. Our current system penalizes savers as inflation robs them of purchasing power. What of our current world? M has been increased tremendously. That means that unless production goes UP (Q), then prices WILL rise (P). I hope that was clear. It is easier with chalk on a blackboard. Questions from the class? If any of you are caught copying answers from other students during the Final, I will send them to the Biology Dept. to be neutered. interesting. :) However, there are some factors that cannot be controlled. 1. evolution in technology vs current amount of humans. 2. normal change in environment vs change in the actual ability to live in certain areas of the World. 3. payback of all previously growth in the current situation, from nature itself, through novel diseases. 4. luck factor, because we certainly depend on luck mostly, if you take under consideration that Earth is not alone outthere. The above factors, change the whole perception on the whole subject, simply because it is not just another inflation. This inflation is only a distraction. They will use us, abuse us and in the end, kill us. No matter where you invest or what you do, you only buy time, which is so precious at the current moments of truth, that simply cannot be bought. |
Wake up men
Star fleet is taking enrollments User ID: 83095966 Australia 05/18/2022 01:34 AM Report Abusive Post Report Copyright Violation | you need to know things, like how to buy your major asserts and not have any one or institution be able to take it from you, ever. We have our truck under this title, it was more run around to get it, but now no one can take it from us. Last Edited by Wake up men on 05/18/2022 01:37 AM Today was just a day, tomorrow is gonna be better. |
Anonymous Coward User ID: 81054972 United States 05/18/2022 01:38 AM Report Abusive Post Report Copyright Violation | My boyfriend and I steal small items from the grocery stores. Usually an expensive block of cheese, a chocolate bar, once I took an avocado when they got really expensive. Just something small+luxury & easily pocketable. For some reason, it tastes better when it’s free. |
Anonymous Coward User ID: 81054972 United States 05/18/2022 01:41 AM Report Abusive Post Report Copyright Violation | The best protection against inflation, and meddling by society in general, is minimizing consumption in fiat by becoming as self sufficient as possible. This generally falls under op's category of acquiring productive assets but the end goal is not income generation or wealth preservation. Instead, it is freedom from both monetary and legislative oppression by eliminating unnecessary consumption. Quoting: Anonymous Coward 60467726 This produces a more resilient and federated society and should be a major initiative for civil defense in a just world imo Anyhow, good advice about preserving purchasing power during inflation in general, op. I appreciate it. God damn that’s brilliant. I love the way you worded that. Makes perfect sense. |
thinking...
User ID: 78212432 United States 05/18/2022 01:41 AM Report Abusive Post Report Copyright Violation | I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'. Quoting: darth However, look back at other inflation eras and consider how to survive the devaluation of our currency. 1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year. RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing. I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter. My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection. 2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining. 3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down. Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment. 4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver". 5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings. The first company I bought was a total disaster. Sometimes I only learn the hard way. I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point. Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome. I hope you all survive what is coming. I made a post, earlier, where I wrote the name of that German republic that had the infamous inflation and IT WAS BLOCKED. I had to re-write the post and say "German republic". What do you make of that? In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined: With disdain I will throw my gauntlet full in the face of the world, And see the collapse of this pygmy giant whose fall will not stifle my ardor. Then will I wander godlike and victorious through the ruins of the world And, giving my words an active force, I will feel equal to the Creator. “Looking for consciousness in the brain is like looking in the radio for the announcer.” – Nasseim Haramein, Director of Research for the Resonance Project |
Anonymous Coward User ID: 80341747 United States 05/18/2022 01:41 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81054972 United States 05/18/2022 01:42 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80575336 Portugal 05/18/2022 01:52 AM Report Abusive Post Report Copyright Violation | Ha Ha Ha Vote democrats in again or cheat them in like last time doesn't matter, inflate or die Taxes and insurance due on house Cash in a few ounces of gold, job done Thank the good lord for buying metals all those years. Every payday buy a silver or gold eagle for a rainy day 20 years from now you will be glad you did can't put a price on peace of mind sleep good at night Ha Ha Ha |
thinking...
User ID: 78212432 United States 05/18/2022 01:53 AM Report Abusive Post Report Copyright Violation | I have always wanted to distill the most important thing I ever learned in years of Econ classes for my peeps on GLP. Quoting: darth The most important equation you will ever learn: GDP (summation of all goods and services produced in a year) is what we all bought, right? So, that is the average price of an apple times all the apples sold, the average cost of doctor visits times the number of medical visits, etc. Each transaction is in currency whether that is greenbacks, digital, or credit card. So it is the summation of Quantity (Q) times Price (P). We used MONEY to buy those goods and services So, GDP is equal to Q*P = money supply (M) times the Velocity (V) That is the mill pays the farmer for his grain, the farmer buys food, seed, diesel, etc. The baker sells bread and uses the money he gets to pay mortgage, kid's college expenses, etc. So, the actual amount of money in circulation is multiplied by V, the number of times it changes hands. So, GDP = Q*P = M*V If quantity goes up but prices stay stable, then either M or V must go higher. If Velocity, V, is stable, then M must go up. That is why economists generally agree that the Fed must increase the money supply to a growing economy. What happens when people are worried? They hang onto their money longer so V goes down. If they anticipate inflation, they spend it faster, so V goes up. That throws gasoline on the inflation fire. What happens when gold and silver are used as currency? That means the money supply is almost stable, so M never changes. In the 1800s, that is what happened in the USA. The money supply was fixed but the economy was growing. They had price DEFLATION. People waited to make purchases because they anticipated that prices would be lower in the future. It also rewarded savers. Our current system penalizes savers as inflation robs them of purchasing power. What of our current world? M has been increased tremendously. That means that unless production goes UP (Q), then prices WILL rise (P). I hope that was clear. It is easier with chalk on a blackboard. Questions from the class? If any of you are caught copying answers from other students during the Final, I will send them to the Biology Dept. to be neutered. And now supply for many products is down while M is inflated. Worst case scenario. In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined: With disdain I will throw my gauntlet full in the face of the world, And see the collapse of this pygmy giant whose fall will not stifle my ardor. Then will I wander godlike and victorious through the ruins of the world And, giving my words an active force, I will feel equal to the Creator. “Looking for consciousness in the brain is like looking in the radio for the announcer.” – Nasseim Haramein, Director of Research for the Resonance Project |
Anonymous Coward User ID: 68225401 Canada 05/18/2022 01:55 AM Report Abusive Post Report Copyright Violation | |
thinking...
User ID: 78212432 United States 05/18/2022 01:58 AM Report Abusive Post Report Copyright Violation | None, zero, nada? What country are you living in? What planet are you on? Are you a carbon based lifeform? Prices arw due to shortages. Supply and demand NOT inflation Go back to school low IQ moron Since covid began, 80% of all the dollars ever created came into existence. You don't think that is inflationary? Where does such ignorance come from? Holy shit. In his poem Human Pride, Marx admits that his aim is not to improve the world, reform or revolutionize it, but simply to ruin it and enjoy it being ruined: With disdain I will throw my gauntlet full in the face of the world, And see the collapse of this pygmy giant whose fall will not stifle my ardor. Then will I wander godlike and victorious through the ruins of the world And, giving my words an active force, I will feel equal to the Creator. “Looking for consciousness in the brain is like looking in the radio for the announcer.” – Nasseim Haramein, Director of Research for the Resonance Project |
Anonymous Coward User ID: 77844279 Ireland 05/18/2022 02:01 AM Report Abusive Post Report Copyright Violation | ... Quoting: darth None, zero, nada? What country are you living in? What planet are you on? Are you a carbon based lifeform? Prices arw due to shortages. Supply and demand NOT inflation Go back to school low IQ moron Since covid began, 80% of all the dollars ever created came into existence. You don't think that is inflationary? Where does such ignorance come from? Holy shit. True, and not only the dollars, they just print like there is no tomorrow, the inflation is the least of our problem, the inflation is made up, it is controlled, no matter what anyone does there is no escape from the actual reason behind it. Simply because, there is no tomorrow. |
Economic Prepper
User ID: 78346473 United States 05/18/2022 02:03 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80341747 United States 05/18/2022 02:05 AM Report Abusive Post Report Copyright Violation | |
darth
(OP) User ID: 28178764 United States 05/18/2022 02:05 AM Report Abusive Post Report Copyright Violation | I have always wanted to distill the most important thing I ever learned in years of Econ classes for my peeps on GLP. Quoting: darth The most important equation you will ever learn: GDP (summation of all goods and services produced in a year) is what we all bought, right? So, that is the average price of an apple times all the apples sold, the average cost of doctor visits times the number of medical visits, etc. Each transaction is in currency whether that is greenbacks, digital, or credit card. So it is the summation of Quantity (Q) times Price (P). We used MONEY to buy those goods and services So, GDP is equal to Q*P = money supply (M) times the Velocity (V) That is the mill pays the farmer for his grain, the farmer buys food, seed, diesel, etc. The baker sells bread and uses the money he gets to pay mortgage, kid's college expenses, etc. So, the actual amount of money in circulation is multiplied by V, the number of times it changes hands. So, GDP = Q*P = M*V If quantity goes up but prices stay stable, then either M or V must go higher. If Velocity, V, is stable, then M must go up. That is why economists generally agree that the Fed must increase the money supply to a growing economy. What happens when people are worried? They hang onto their money longer so V goes down. If they anticipate inflation, they spend it faster, so V goes up. That throws gasoline on the inflation fire. What happens when gold and silver are used as currency? That means the money supply is almost stable, so M never changes. In the 1800s, that is what happened in the USA. The money supply was fixed but the economy was growing. They had price DEFLATION. People waited to make purchases because they anticipated that prices would be lower in the future. It also rewarded savers. Our current system penalizes savers as inflation robs them of purchasing power. What of our current world? M has been increased tremendously. That means that unless production goes UP (Q), then prices WILL rise (P). I hope that was clear. It is easier with chalk on a blackboard. Questions from the class? If any of you are caught copying answers from other students during the Final, I will send them to the Biology Dept. to be neutered. interesting. :) However, there are some factors that cannot be controlled. 1. evolution in technology vs current amount of humans. 2. normal change in environment vs change in the actual ability to live in certain areas of the World. 3. payback of all previously growth in the current situation, from nature itself, through novel diseases. 4. luck factor, because we certainly depend on luck mostly, if you take under consideration that Earth is not alone outthere. The above factors, change the whole perception on the whole subject, simply because it is not just another inflation. This inflation is only a distraction. They will use us, abuse us and in the end, kill us. No matter where you invest or what you do, you only buy time, which is so precious at the current moments of truth, that simply cannot be bought. Econ is thought of as a "soft science", i.e., not very dependent on the real world. However, to understand phenomena like inflation, it is helpful to consider it with the fewest variables possible. I like the simple equation because it explains so much of what we observe. Ref the "kill us" forecast, I think they will have trouble with that plan. I have faith in the People. My fave peasant story: I lived in the tiny farming village of Hohenstaufen, Germany for a few years. While hiking to the top of the hill I saw the ruins and foundation of a medieval castle. Every evening I went to Frau Anna's barn to buy a pail of fresh milk straight from her cows. I noticed that her barn and most of the houses were made from the same huge stones as the castle ruins. My German was good enough to ask her why. She said, "Once, knights and nobles lived in that castle. They taxed and oppressed the peasant farmers. One day the farmers rushed into the castle with their tools. They killed all the nobles and knights. Then, they dismantled the castle to make houses and barns. That way, no other nobles or knights would come there to oppress them". Peasants Rebellion, 1300s. They have long memories in the Old World. |
darth
(OP) User ID: 28178764 United States 05/18/2022 02:07 AM Report Abusive Post Report Copyright Violation | I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'. Quoting: darth However, look back at other inflation eras and consider how to survive the devaluation of our currency. 1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year. RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing. I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter. My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection. 2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining. 3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down. Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment. 4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver". 5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings. The first company I bought was a total disaster. Sometimes I only learn the hard way. I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point. Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome. I hope you all survive what is coming. I made a post, earlier, where I wrote the name of that German republic that had the infamous inflation and IT WAS BLOCKED. I had to re-write the post and say "German republic". What do you make of that? Weird. Must have offended some German? |
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Citra
User ID: 79169555 United States 05/18/2022 02:28 AM Report Abusive Post Report Copyright Violation | I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'. Quoting: darth However, look back at other inflation eras and consider how to survive the devaluation of our currency. 1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year. RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing. I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter. My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection. 2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining. 3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down. Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment. 4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver". 5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings. The first company I bought was a total disaster. Sometimes I only learn the hard way. I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point. Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome. I hope you all survive what is coming. Great thread OP! Feels solid! Ignore the trolls, they just want to distract you from giving more solid advise. What if they plan on stealing the elections again at all costs, AND war? Also, if you were selling your property and moving south, What would you do with your profits? Capital gains will be due next tax season. I could buy gold and silver and sit on it? Maybe put a sawmill on my families southern farm? Or build a few RV sites to rent out ? Maybe try to find a cheap fix-RR-uper by next tax season and work on that? Any advise appreciated! Thank you Last Edited by Citra on 05/18/2022 02:31 AM Truth is light, light is truth |
Anonymous Coward User ID: 83202271 United States 05/18/2022 02:36 AM Report Abusive Post Report Copyright Violation | I have a Masters in Econ and Finance. Like I always say, With that degree and five bucks I can get a latte'. Quoting: darth However, look back at other inflation eras and consider how to survive the devaluation of our currency. 1. Buy property that pays something whether that be rent, farm crops, timber resources, or whatever. I was working the medical field in the latter 1970s. There were doctors buying Iowa farmland sight-unseen and watching it double in a year. RE is a haven for the middle class or small investor who simply wants to protect his hard earned savings. Don't lose your principal even if you don't make great returns for a while. And usually, you can purchase it with a small down payment or even owner financing. I sold my ancient motorhome to my next door neighbor a few months ago. This afternoon I was chatting over the fence with his new renter. My neighbor is renting out the motorhome while it is parked in his driveway for $650/month, and the renter was thrilled to find a place so cheap. All he did was run water, an extension cord, and a flex pipe to the sewer connection. 2. Buy what you will need in the next couple of years. Beans, bullets, and bandaids. Don't you wish you had purchased primers for reloading ammo over two years ago? You could make a tidy profit right now. People are paying high prices and not even complaining. 3. Buy productive equipment. I own a small manufacturing company and a small farm. Last week I purchased $100K in brand new equipment at zero percent interest and zero down. Hell, it will be worth more as USED equipment next year than I paid for it. Not to mention, I intend to use it and make money with that equipment. 4. Precious metals, hell YEAH! As I was watching silver, I told everyone, "Back up the truck; it is time to buy more silver". 5. Get a side hustle and build new skills. I made a huge mistake when I retired and bought an existing manufacturing company. I should have started small time in my garage and learned the business before I spent all of my savings. The first company I bought was a total disaster. Sometimes I only learn the hard way. I am old enough to remember the 1970s, however, what we are headed for is more like 1920s Germany or Argentina. Most countries in the world have defaulted or devalued drastically at some point. Read the book, This Time It's Different. A couple of Harvard economists writing about devaluations and defaults going back to Rome. I hope you all survive what is coming. But most importantly, do NOT forget it was all brought to you by Globalists and their Useful Idiot leftist cockroaches. |