I think I boil it down to eliminate your personal debt, stay in cash and be ready to buy producing assets on the cheap.
“I think I boil it down to eliminate your personal debt, stay in cash and be ready to buy producing assets on the cheap.”
Or, somewhat less boiled down, stated a little differently, and in the spirit of not putting all your eggs in one basket;
Do not shun the possibility of being able to buy such assets on the cheap to the extent you place your cash in dodgy things in order to chase marginal extra yield. How many municipalities and counties got themselves in deep trouble by chasing after an extra .3% in yield, buying swaps and weird interest rate products they did not fully understand, then found themselves on the bad side of a Wall St. mathematics exercise?
Unfortunately, even non-dodgy things may suffer. I note deterioration in many blue chip div-paying stocks. Not all. Some. Nobody can really gauge how much liquidity may come out of the system....least of all us mere mortals at the pointy end of the dog’s tail.
You should have a few months supply of food just in case the delivery trucks aren’t rolling during an adjustment period.
It’s like one fellow from Argentina said; “One day everything is normal, the next day the SHTF!”