Does anyone else see an economic crash coming?

[Amish Heart]

And Brics will be digital and controlling. Not good.

 

[Haertig]

My goal is to hit 0 on the bank account by Jan 1st. Use it, or lose it. Gonna be one hell of a christmas....even if its all solar panels, car parts and beans.

That sounds scary, having no monetary reserves. But maybe I read your words wrong - and you're not talking about giving up on money, just giving up on keeping your money in banks.

Keep us informed on how that turns out, if you can. Libraries usually have free computers and free WiFi if you decide to shut off internet service at your home. You're probably one of the better prepared for what you are planning on doing than the rest of us. But it does sound a little like intentionally creating your own personal SHTF before the S actually HTF. Like, how are you planning on paying taxes? They're not going to barter for that - they expect money.

 

[elkhound]

And Brics will be digital and controlling. Not good.

an interesting aspect of brics is theres going to be a section or a way..not suyre what you call it....where folks can trade commodity for commodity...no funds...just real life trade...one firm was doing this in europe back during 08-10 crash and n one could get big funds at the time. big bankers didnt like that as they didnt/couldnt get a cut of deals....lol...leeches

brics for past year as a form of a type of visa card already and people are using it more and more now as its active in vacation destinations.

 

[zoomzoom]

That sounds scary, having no monetary reserves. But maybe I read your words wrong - and you're not talking about giving up on money, just giving up on keeping your money in banks.

That's what I was thinking. Quitting on a financial market that (properly invested) doubles your money every 7 years isn't a strategy I'd take.
I've made enough from the stock market in the last 2 weeks to cover all my bills for a year... and then some.

 

[montanabill]

And they'll push it up to Trumps term.

I saw something about china not going along with brics....With germany having issues this whole house of cards could flatten.

 

[montanabill]

That sounds scary, having no monetary reserves. But maybe I read your words wrong - and you're not talking about giving up on money, just giving up on keeping your money in banks.

Keep us informed on how that turns out, if you can. Libraries usually have free computers and free WiFi if you decide to shut off internet service at your home. You're probably one of the better prepared for what you are planning on doing than the rest of us. But it does sound a little like intentionally creating your own personal SHTF before the S actually HTF. Like, how are you planning on paying taxes? They're not going to barter for that - they expect money.

We keep little in the bank compared to some folks. Pay the bills and the local bigger ones we work with cash. Still leaves a trail but I mainly don't want to wake up monday morning with nothing or very little available in my account.
Helping the older teens build some tiny houses and ramping up for more chickens and a lot more garden next spring is keeping my life exciting.
Gotta price out a couple bunks of cheap 2X4's and a stack of wafer board for investment purposes.

 

[Amish Heart]

I look at brics at not much different as what's been going on with the dollar. Just new bosses.

 

[Quark]

The Stock market and housing are still going up like everything is great out there. Why do I feel like I’m the only one that sees the cliff the economy is about to go over?

You aren't the only one. The Fed and government are caught between a rock and a hard place. Raise interest rates crash the economy. Lower the interest rate crash the economy.

Cut spending crash the economy. Spend fiat currency crash the economy.

The problem is when does the Great Depression II hit.

 

[Quark]

When the Great Depression II comes it will last at least half century if not two or three centuries. And it will be worldwide.

 

[Amish Heart]

I don't know how long it will last, but it is coming. The Greater Depression.

 

[Aerindel]

That sounds scary, having no monetary reserves. But maybe I read your words wrong - and you're not talking about giving up on money, just giving up on keeping your money in banks.

Keep us informed on how that turns out, if you can. Libraries usually have free computers and free WiFi if you decide to shut off internet service at your home. You're probably one of the better prepared for what you are planning on doing than the rest of us. But it does sound a little like intentionally creating your own personal SHTF before the S actually HTF. Like, how are you planning on paying taxes? They're not going to barter for that - they expect money.

Not scary at all. We have no debt. I had to pay taxes once, in 2006....I've made sure to never make enough money to owe taxes since then. We always get thousands back every year. Of course now that you mention it, there are still the property taxes....But that amounts to half a months pay per year so no big deal.

No SHTF at all, just don't want to be stuck with a bunch of useless money....or a bunch of money when prices jump up by 25% and there isn't anything buy.

If nothing happens, then we still have the exact same income + an additional year or so of preps on top of what we already have.

If something DOES happen, then we have converted money, into the things we would have bought with that money, just a much better exchange rate.

What is predicted, or perhaps promised, is a 25% increase in prices, coupled with an even greater reduction in availbility. This a perfect recipe for hyper inflation.

Scary is having a lot of unspent money sitting in the bank that could lose half its value without spending any of it.

Most people are the other way around, being deeply in the red by hundreds of thousands of dollars worth of loans, so even at 0, we would already be far better off than the vast majority of people are right now.

Its nothing more than shopping ahead of time. If you think you are going to buy $10k worth of stuff over the next year and you have $10k in the bank....just buy all that stuff NOW, before that $10K worth of stuff costs $15K.

That's what I was thinking. Quitting on a financial market that (properly invested) doubles your money every 7 years isn't a strategy I'd take.
I've made enough from the stock market in the last 2 weeks to cover all my bills for a year... and then some.

I've never had a single cent 'invested' in anything so that is moot.

 

[elkhound]

yea..i dont want to be broke all the time....life realities happen all the time...look at flood in southeast happened a month and half ago....if you had cash i bank you could walk away if lost everything and put a roof over your head again....entire homes and sides of mtns collapsed....life realities...my grandmother at end of her life had to go into home....there was no place for her and she needed serious help with meds because of her brain....it took 10k to get her through the door alone.

vehicles break down and blow up and more....i want to be able to put a ride under my rear no matter what......

repairs on home....roofs,waterwell repair and list goes on and on...all cost 1000's...new roof on my parents home last year....12k.

not having emergency money is foolish...as foolish as not having years worth supplies as well.

no matter...if you happy then i am happy...but life lessons for me and my family and friends taught me not be broke with zero in bank or in hand and available to fix problems i cant fix or fix it faster.

 

[Aerindel]

no matter...if you happy then i am happy...but life lessons for me and my family and friends taught me not be broke with zero in bank or in hand and available to fix problems i cant fix or fix it faster.

Its a gamble....but all money games are. Keeping money in the bank is a gamble too.

I'm betting that the chances of hyper inflation in the new year, are higher than my chances of needing large amounts of money suddenly. Its that simple, and I view it as low risk, even if I am wrong.

Almost everything that people spend thousands on, I know how do myself for pennies on the dollar. I've long had a two is one and one is none policy with things like cars, I could wreck three cars in a row before I was out of cars, and that is before I even need to borrow my wife's

And a big chunk of money I'm trying to spend before it burns, is going into the cars, the house, etc, all stuff that I would need to spend it on anyway but haven't gotten to yet.

Hell, I guess if I need a bunch of money, I'll just do what all the normies do, borrow it.

 

[SLADE]

Predicting the next depression is like predicting the second coming of Christ.
It's not something to worry about.

 

[montanabill]

I don't worry about the next depression, I make plans on how to weather it and I make plans for how others I care about can weather it..