I think cash is still king. Seems to me the markets have to crash soon. If you’re long term you should be okay with stocks, but short term is bad news. JMHO
“If you can, buy GOLD!”
I think silver is a better deal. Gold is like having $100 or $1000 dollar bills. Hard to get change and the premium on fractional gold is pretty high. Junk silver and some eagles.
Later
Later
How do you prevent yourself from being executed? Money matters mean nothing, after you are executed for not toeing the line created by Far Leftists.
“Had you used your credit card and paid it off next year, you will have payed it off with money that is worth 3% less. Thus a total savings of $6, and a difference of $12 from what your loss would have been. “
Except you would have had to pay something like 18-25% on that credit card.
The Democrats are pushing for another Great Depression, but at several times as big, across many fronts.
The green new deal, so fuel and electrical shortages and sky high prices.
Wealth tax, likely applied to “virtual money” in banks and investments. Anything they can electronically grab.
Massive Income Tax hike.
Gold confiscation like what FDR did.
Gun confiscation and prohibition.
Conscription for “government service”.
Hyperinflation at the same time as deflation.
Too expensive to move food to market.
Foreign treaties surrendering sovereignty.
Foreign soldiers and police in the US.
Calls for resistance and disagreements will be censored.
It won’t all be at once, but Nazi Germany wasn’t built in a day. It will be boiling a frog to death.
Oddly enough, the saving grace might be when violent extreme leftists start to assassinate Democrats for not being radical enough.
I’ve posted about how my mother and MIL taught us re buying house hold commodities.
If it is something you use with and long term or indefinite shelf life and it is on sale. Buy it and store it.
We also, use our Amazon credit card with a 5% cash reward.
Anything that is a by product of petroleum will soar in price before the year is over. On Amazon I can pre order auto shipments of these items and have them shipped free to me every 2 or 3 months and lock in a great price and still get my 5% cash back bonus $’s.
Inflation is not solely caused by government “printing” or digital debt creation.
It is also affected by the velocity of money.
If most of the money goes to billionaires they are not likely to spend it in the broader economy, so there is no velocity.
The checks that go to “everyone” can cause inflation because that money will circulate quickly.
However, the current credit card interest rates are very high, and this has a _deflationary_ effect, motivating consumers to use any “helicopter money” to pay down credit card debt _first_, which means the money ends up back in the pockets of the billionaires that own the big banks.
Bottom line—I think policymakers have painted themselves into a corner where the deflationary pressures (slow velocity of money) are offsetting potential inflationary effects.
I do not see how they reverse that trend in the foreseeable future. It will be difficult to ignite true inflationary effects across the board as long as average folks have substantial remaining credit card debt.
Very topical. Was just discussing this with a coworker today. Precedent: Zimbabwe.
I’ve put most of my savings into my market accounts and into stock Index funds. As the dollar goes down the valuation of stocks goes up. With investment and bank accounts linked money can be sent to a checking account when needed for spending. The interest rate on a savings account is worthless vs the 14% inflation. The market compensates for the dollar’s decline.
Not exactly the Dave Ramsey way of doing things but under the soon to be dire circumstances, the logic makes sense......unfortunately.
I think this guy has taken too much of the new math.
If I stash a Benjamin under my mattress, Joe Biden isn't going to creep in in the middle of the night with a Sharpie and write $97 on it.
What I want to buy might cost $103, but the bill still has $100 written on it and I only have to add $3.
Some good advice there, some bad.
I’ve never heard of Buffett buying gold. He buys companies.
If you want to hoard metals hoard lead. Maybe junk silver, non-numismatic silver coins. Think the dollar is going down? Buy foreign securities.
Big ticket items like a house? Yeah. Good time to buy & lock in a low 30 year rate.
What can I do? In the face of the coming storm, what constructive actions can we take to conserve what works and protect ourselves? Here are a few actionable solutions anyone can adopt at a personal or local level.
Find your tribe. Network, meet in person. Social media can’t censor what you say in private. This also helps you emotionally, since you’re meeting with people who support you instead of mistaking the digital lynch mobs for what matters.
Preserve conservative institutions like churches, schools and clubs. Fight social justice infiltration or pressure to submit to liberal political demands like, “you really need a BLM lecturer in here, you’ll be good if you throw up our political symbols”.
Educate. Teach your kids your values at an early age, by reading stories that share your values. Don’t let the kids go to drag queen story time or social justice story time. Protest if the school or daycare does this, or if you’re not able to do that, take your kid out and discuss the protest with other parents. Abilene Paradox – people wrongly think that the official dictate is what everyone agrees with because no one says anything against it.
Buy books that explain the conservative worldview and defend it like those by Dennis Prager. Buy books that explain why liberals and conservatives are different without demonizing them like Jonathan Haidt’s works. And start book clubs reading these books. Hello, tribe!
Fight any attempt to add social justice to codes of conduct. For example, the National Association of Realtors just implemented a policy where you can be fined or expelled for “hate speech”, public or private. Other organizations have weaker versions of this, but expect it to ramp up.
Law, medicine and social work already have rules regarding this, equating trust and respect and empathy to liberal values - so you can’t get licensed if you don’t agree. Fight this, if you don’t want to be kicked out of professional organizations if you don’t pass the liberal political litmus test.
Hire conservatives, because businesses are firing them. Assist those who have been fired for their beliefs.
2ndvote.com allows you to find conservative and neutral businesses that share your values.
You can even sort by category (restaurants, groceries, hardware, retail) or values (pro-life, 2nd amendment).
Do you like the local or national conservative talk show hosts? Buy the stuff they’re hawking, and especially use the reference or discount codes they provide. This will tell sponsors that this sponsorship is financially important to them. And that helps keep these shows on the air.
Clean your room. Sort yourself out. You can’t fix the world, but you can improve your own life and situation. Read Dave Ramsey’s Financial Peace University books. Get out of debt. Save up an emergency fund. If Biden’s cronies crash the economy, you’re in a much better situation. And you’re in a Christian group that can be the start of your tribe, or you can arrange classes at your church or with your networking groups to bring everyone closer together.
Encourage Sanctuary Cities/Sanctuary States on any issue you support. Second Amendment sanctuaries already exist. Pro-life Sanctuaries are far fewer but could spread. Support the groups that got these policies passed, and encourage such movements in your area. You may not be able to change federal tax and immigration policy, but you can try to preserve free speech if someone can implement a First Amendment Sanctuary law at a state level.