The global financial system is unravelling fast. Soon there will be no time left to protect yourself and your family.
Financial markets are collapsing around the world. All the expert's cautious predictions and the media’s hopeful expectations at the New Year for an economic turnaround and imminent market bottom were dead wrong. There will be no turn around in the second quarter of 2009 or 2010 or 2011 … America and much of the world has entered “The Greatest Depression.” I cannot stress how serious this is becoming by the day.
The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts.
Today, the Dow fell over 300 points, closing below 7,000 for the first time since 1997. There is no stock market bottom in sight. If you still dabbling in the stock markets, I would suggest that you get out even if you have already lost substantial amounts of money. Get out while you still can.
As the crisis worsens, governments will take draconian measures to prevent total economic collapse and public panic. The rapidity and severity of the economic unravelling now demands your immediate attention.
Expect massive bank failures, runs on banks, and bank holidays. Even if deposits are insured by your government, quick access to your money is by no means assured. At minimum, have a few months reserves on hand for emergencies.
My prediction is that although gold fell today to about USD$925 per ounce, sooner or later the US dollar will collapse and gold will go over $2000 per ounce.
Please, I urge you to protect yourselves:
Do not be taken in by any bond issues, any wonderful investment deals paying "high" rates of interest. Instead, stay away from any debt offerings, no matter how "stable" the company looks at present. Don't forget that interest rates could rise rapidly over a short period. Look at Iceland - interest rates there are at 15%! So imagine how you would feel if you have tied up your money for 10 years at 7%. Best to steer clear of investment deals, to avoid debt if at all possible and to create your own self-sufficiency. If you haven't already purchased some gold, I strongly suggest you do it now while there is still a window of opportunity.
Monday, March 2, 2009
Saturday, February 21, 2009
Taking Responsibility
Finance Blog 22nd February 2009
Well, it’s all happening around the world: governments using “Quantitative Easing” i.e. posh way of saying printing money – to try to solve the financial crisis. Who is going to get bailed out next? How will they decide who to save and who to allow to sink? Who else will be exposed for vast fraudulent activities? It seems to be endless – while the average person is concerned about their job security and their home – the people at the top seem to be in charge of our destiny.
It is time for us to begin to think for ourselves and not to just elect a new government every few years and then sit back and let them do as they wish. They haven’t made a very good job of it have they?
It is vital to begin to deepen your understanding of the issues, to start to help your community and to see a world in which money becomes our slave and not our master.
The next 20 years are going to be completely unlike the last 20 years. There is a sharp corner coming, and those who are well-informed will be better off than those that will undoubtedly be taken by surprise.
Here are a few things that I saw that just didn’t make sense:
- we were consuming way beyond our means
- the gap between incomes and house prices was getting larger and larger
- the decline in credit standards was becoming ridiculous – anyone and everyone had the opportunity to take out a loan
- credit was expanding faster than the economy
All these things alerted me to the fact that there was going to be a huge problem ahead of us.
It’s time now to Trust Yourself. If you see something that doesn’t make sense – trust your instincts. You can avoid much of the pain coming if you listen to your intuitions. Your future is up to you. It’s time to take responsibility. You have a lot more control than you think.
The first step is the awareness, then the understanding and finally you will come up with the solutions.
As I see it at the moment:
- get your money out of the banks or at least spread it around a few financial institutions
- have some cash on hand
- get gold and silver
- get out of debt
- rent rather than buy
- get your health seen to while there is time and resources left
- get your car serviced and running well
- learn how to become self-sufficient
- get off the grid or at least have a backup solution
- reach out to your community and get involved with projects that will make you more self-sustaining.
Have fun!
Well, it’s all happening around the world: governments using “Quantitative Easing” i.e. posh way of saying printing money – to try to solve the financial crisis. Who is going to get bailed out next? How will they decide who to save and who to allow to sink? Who else will be exposed for vast fraudulent activities? It seems to be endless – while the average person is concerned about their job security and their home – the people at the top seem to be in charge of our destiny.
It is time for us to begin to think for ourselves and not to just elect a new government every few years and then sit back and let them do as they wish. They haven’t made a very good job of it have they?
It is vital to begin to deepen your understanding of the issues, to start to help your community and to see a world in which money becomes our slave and not our master.
The next 20 years are going to be completely unlike the last 20 years. There is a sharp corner coming, and those who are well-informed will be better off than those that will undoubtedly be taken by surprise.
Here are a few things that I saw that just didn’t make sense:
- we were consuming way beyond our means
- the gap between incomes and house prices was getting larger and larger
- the decline in credit standards was becoming ridiculous – anyone and everyone had the opportunity to take out a loan
- credit was expanding faster than the economy
All these things alerted me to the fact that there was going to be a huge problem ahead of us.
It’s time now to Trust Yourself. If you see something that doesn’t make sense – trust your instincts. You can avoid much of the pain coming if you listen to your intuitions. Your future is up to you. It’s time to take responsibility. You have a lot more control than you think.
The first step is the awareness, then the understanding and finally you will come up with the solutions.
As I see it at the moment:
- get your money out of the banks or at least spread it around a few financial institutions
- have some cash on hand
- get gold and silver
- get out of debt
- rent rather than buy
- get your health seen to while there is time and resources left
- get your car serviced and running well
- learn how to become self-sufficient
- get off the grid or at least have a backup solution
- reach out to your community and get involved with projects that will make you more self-sustaining.
Have fun!
Saturday, February 14, 2009
What's going to happen next?
What’s going to happen next?
The next big event in the unfolding crisis will be the collapse of the commercial real estate market. Think about it. Huge retailers have gone belly up and who knows how many more will be going to the wall. Starbucks, Macy’s, Home Depot, Walmart?? Who knows? At the very least, they will begin to rationalise their retail outlets and start cutting costs wherever they can. So who is going to rent all that available retail space???
Consider all the collapsed and merged banks and financial institutions: Bear Stearns, Merrill Lynch, Lehman brothers, Lloyds TSB with HBOS in the UK……the list goes on. Who will rent all the commercial office space that these ravaged banks leave behind? The answer is no one.
The consequences must be a huge fall in the commercial real estate market. Remember too that there are huge support industries that are tied up in this too: advertising, marketing, suppliers…..
Did you know that governments keep two sets of books when it comes to unemployment figures? There is one that they publicly give out to make the figure seem lower BUT it does not include the unemployed who are so discouraged that they have given up looking for another job, and it also excludes part-time workers. So for every public figure you hear about, try doubling it to get a more realistic picture.
There will be a tax revolt, especially in the US. Let’s face it, how can governments think about putting taxes up while people are losing everything: having their homes taken away from them, losing their jobs, their pensions?? When people are desperate and fearful and they feel they have nothing left to lose, they revolt. So expect revolutionary activity to take place around the globe.
Where are the future growth areas? In my view there are three huge possibilities:
- Health jobs. This will be a growth industry, particularly in elder care.
- Conservation engineers. People who work out ways of saving and making money will be part of a huge growth economy
- Alternative energies – there are certainly job opportunities in this area.
The next big event in the unfolding crisis will be the collapse of the commercial real estate market. Think about it. Huge retailers have gone belly up and who knows how many more will be going to the wall. Starbucks, Macy’s, Home Depot, Walmart?? Who knows? At the very least, they will begin to rationalise their retail outlets and start cutting costs wherever they can. So who is going to rent all that available retail space???
Consider all the collapsed and merged banks and financial institutions: Bear Stearns, Merrill Lynch, Lehman brothers, Lloyds TSB with HBOS in the UK……the list goes on. Who will rent all the commercial office space that these ravaged banks leave behind? The answer is no one.
The consequences must be a huge fall in the commercial real estate market. Remember too that there are huge support industries that are tied up in this too: advertising, marketing, suppliers…..
Did you know that governments keep two sets of books when it comes to unemployment figures? There is one that they publicly give out to make the figure seem lower BUT it does not include the unemployed who are so discouraged that they have given up looking for another job, and it also excludes part-time workers. So for every public figure you hear about, try doubling it to get a more realistic picture.
There will be a tax revolt, especially in the US. Let’s face it, how can governments think about putting taxes up while people are losing everything: having their homes taken away from them, losing their jobs, their pensions?? When people are desperate and fearful and they feel they have nothing left to lose, they revolt. So expect revolutionary activity to take place around the globe.
Where are the future growth areas? In my view there are three huge possibilities:
- Health jobs. This will be a growth industry, particularly in elder care.
- Conservation engineers. People who work out ways of saving and making money will be part of a huge growth economy
- Alternative energies – there are certainly job opportunities in this area.
Thursday, February 5, 2009
Prepare for the Future - more predictions
I thought I'd share some of my thoughts about future trends. This may be helpful to you in preparing yourself for the future shocks we are all going to experience in one way or another.
Firstly, I see major changes happening in the phone and telecommunications industry which will not necessarily be for the better. They will attempt to streamline their operations, but in doing this, they will eliminate a lot of things that were working just fine. If you are already in this industry, you may want to lobby against sweeping changes, or at least find yourself a niche in which you will be able to offer the services that the large companies will discard.
Governments need to have much more control over the monies that are being used for bailouts. There needs to be greater accountability and the fact that so many busineses and banks are being nationalised, means that CEO's and leaders will have to be responsible and act with integrity. The age of greed and reckless risk-taking is coming to an end. Indeed, the fact that Obama has wisely limited the pay of executives in the banking industry at $500,000 is a step in the right direction. Watch out for the UK to follow suit in the next few weeks.
In the oil industry there will be great unrest. Oilwells will get blown up, there will be huge changes both at the pump and some in production. We will all feel the effects of these disruptions.
There will be a fine line between cooperation between countries and the return of protectionism. As economies begin to shrink, there is a tendency for each country to want to protect its workers and its products. So if there is a great imbalance - for example between the US and Japan at present - the US feels they are losing out as Japan will not import their goods, but the Japanese are exporting their goods to the US. This will need to be brought back into balance or there are going to be serious consequences for us all around the world.
Food will become scarcer. There will have to be more government programmes for the destitute. There will be more tent cities.
There will be more natural disasters than ever before in the history of the world.
There will probably be an increase in infant mortality with more homeless and more orphans globally.
People will go a lot less travelling. The airlines will be hurting a whole lot more than they are at present. Expect to see more consolidation of the industry.
The ones who will suffer the most will be importers and exporters of produce. For example, fish and meats. Getting stuff to market will be harder and transporting perishables great distances will become too costly.
The clothing industry will take a severe cut.
There will be millions more unemployed.
On the positive side, education will improve especially at the higher levels. Health care coverage will also go up. Insurance companies will have to offer more coverage for less money.
For the first time in years, people will hold onto their money rather than spend it.
There will be a lot of want in general.
There will be too many things that will catch us by surprise. I see at least 10 years ahead of us that will involve hardship.
Here are my tips for preparing yourself:
Your Health: get it as good as you can NOW. While there is still access to vitamins and medical care. Get yourself checked out and do whatever needs to be done. Get any dental work done too.
Consolidate and pay off your debts
Choose a career that will not close down and start training for it now: technology, sustainable living, working the land, bookkeeping and accounts.
Get your car fixed up and working well
If you can get a small tract of land that you can farm, grow veggies and have a few chickens, then you will at least have food to eat and maybe to share.
Remember, it's not all bad, but it doesn't cost much to prepare yourself best you can.
Remember too, that I have said all along, that there will be things that come out that we cannot expect at this time. We are all going to be surprised and shocked. So it makes sense to do the simple things to protect yourself now.
Firstly, I see major changes happening in the phone and telecommunications industry which will not necessarily be for the better. They will attempt to streamline their operations, but in doing this, they will eliminate a lot of things that were working just fine. If you are already in this industry, you may want to lobby against sweeping changes, or at least find yourself a niche in which you will be able to offer the services that the large companies will discard.
Governments need to have much more control over the monies that are being used for bailouts. There needs to be greater accountability and the fact that so many busineses and banks are being nationalised, means that CEO's and leaders will have to be responsible and act with integrity. The age of greed and reckless risk-taking is coming to an end. Indeed, the fact that Obama has wisely limited the pay of executives in the banking industry at $500,000 is a step in the right direction. Watch out for the UK to follow suit in the next few weeks.
In the oil industry there will be great unrest. Oilwells will get blown up, there will be huge changes both at the pump and some in production. We will all feel the effects of these disruptions.
There will be a fine line between cooperation between countries and the return of protectionism. As economies begin to shrink, there is a tendency for each country to want to protect its workers and its products. So if there is a great imbalance - for example between the US and Japan at present - the US feels they are losing out as Japan will not import their goods, but the Japanese are exporting their goods to the US. This will need to be brought back into balance or there are going to be serious consequences for us all around the world.
Food will become scarcer. There will have to be more government programmes for the destitute. There will be more tent cities.
There will be more natural disasters than ever before in the history of the world.
There will probably be an increase in infant mortality with more homeless and more orphans globally.
People will go a lot less travelling. The airlines will be hurting a whole lot more than they are at present. Expect to see more consolidation of the industry.
The ones who will suffer the most will be importers and exporters of produce. For example, fish and meats. Getting stuff to market will be harder and transporting perishables great distances will become too costly.
The clothing industry will take a severe cut.
There will be millions more unemployed.
On the positive side, education will improve especially at the higher levels. Health care coverage will also go up. Insurance companies will have to offer more coverage for less money.
For the first time in years, people will hold onto their money rather than spend it.
There will be a lot of want in general.
There will be too many things that will catch us by surprise. I see at least 10 years ahead of us that will involve hardship.
Here are my tips for preparing yourself:
Your Health: get it as good as you can NOW. While there is still access to vitamins and medical care. Get yourself checked out and do whatever needs to be done. Get any dental work done too.
Consolidate and pay off your debts
Choose a career that will not close down and start training for it now: technology, sustainable living, working the land, bookkeeping and accounts.
Get your car fixed up and working well
If you can get a small tract of land that you can farm, grow veggies and have a few chickens, then you will at least have food to eat and maybe to share.
Remember, it's not all bad, but it doesn't cost much to prepare yourself best you can.
Remember too, that I have said all along, that there will be things that come out that we cannot expect at this time. We are all going to be surprised and shocked. So it makes sense to do the simple things to protect yourself now.
Saturday, January 31, 2009
The Meltdown of 2009
This is a GLOBAL MELTDOWN!!! All over the world, governments are doing the same thing - that is printing more and more money and planning to spend their way out of the crisis. Massive stimulus programmes are being instigated, the toxic debts of the financial institutions are being swept up by the governments - they are acting as though there are no consequences to this type of behaviour. They are using 1930's methodologies to tackle 21st century problems. It's ridiculous. The burden will ultimately fall on the taxpayers.
Just today, Gordon Brown announced that this crisis is unprecedented and we could not look back at history for any answers. Great. So what are they doing? Just repeating history without any thought about the effect they are having on peoples' lives for the future.
Here's the way I see it. We started out with the sub-prime mortgage crisis in 2008 and the subsequent collapse of many banks and financial institutions. Since then, some huge retailers have gone bust: Sharper Image, Linens and More, Circuit City to name but a few. This is just the start. Yesterday over 75,000 job losses were announced. In one day! What you will be seeing will be an enormous collapse of the commercial real estate sector. This will be much bigger than the sub-prime crisis. Imagine all the empty buildings from the companies who are no longer in business. This is going to be huge.
The US Treasury Secretary, Timothy Geithner, is pretending that they are saving the banks in the name of national interest. They cannot save the banks - they are pouring all the toxic assets onto the taxpayers. The ship is sinking but lifeboats are only there for the wealthy. Every person is going to be much poorer in order to keep on enriching the elite few at the top. How can they justify taking over $18bn in bonuses during 2008 when leading so many financial institutions into bankruptcy??? It's shocking. And this is only the surface. We are not even seeing 10% of the extent of the greed, dishonesty and unethical behaviour. This is merely the beginning. Do you think that Bernard Madoff is the only one??? No way, he is one of many that have been found out so far.
Already we are seeing the signs of unrest around the world: a million people striking in France this week, riots and demonstrations in Greece, Latvia, Russia, Iceland...Already in the US, they are training the military for riot control. The Arizona police force is training the police for riots and economic calamity.
Be assured that draconian measures will be taken by governments around the world. It could be a bank holiday, it could be confiscating gold, it could be anything - probably something totally unexpected - but it will definitely be something dramatic that will hurt the everyday person and again the rich will benefit.
There will be bigger government, more intrusion, more spying. Crime will increase rapidly and there will be a growing underclass.
It is important to prepare for the worst: at least have a couple of weeks of water and food stored away, some gold, some weapons if you think it necessary as well.
Remember the banks might just close for a while - so make sure you have some cash on hand.
It doesn't cost anything to take protective measures.
Again, I tell you, I am not into doom and gloom, but I felt I had to write this blog urgently right now so that as many of you as possible can make preparations to protect yourselves.
For the future, it is going to take creative innovation: possibly in the field of alternative energy, medical breakthroughs, or climate change solutions.
First protect yourself and your family, and in future blogs I will discuss how the future can really be brighter for us all.
Take care.
Just today, Gordon Brown announced that this crisis is unprecedented and we could not look back at history for any answers. Great. So what are they doing? Just repeating history without any thought about the effect they are having on peoples' lives for the future.
Here's the way I see it. We started out with the sub-prime mortgage crisis in 2008 and the subsequent collapse of many banks and financial institutions. Since then, some huge retailers have gone bust: Sharper Image, Linens and More, Circuit City to name but a few. This is just the start. Yesterday over 75,000 job losses were announced. In one day! What you will be seeing will be an enormous collapse of the commercial real estate sector. This will be much bigger than the sub-prime crisis. Imagine all the empty buildings from the companies who are no longer in business. This is going to be huge.
The US Treasury Secretary, Timothy Geithner, is pretending that they are saving the banks in the name of national interest. They cannot save the banks - they are pouring all the toxic assets onto the taxpayers. The ship is sinking but lifeboats are only there for the wealthy. Every person is going to be much poorer in order to keep on enriching the elite few at the top. How can they justify taking over $18bn in bonuses during 2008 when leading so many financial institutions into bankruptcy??? It's shocking. And this is only the surface. We are not even seeing 10% of the extent of the greed, dishonesty and unethical behaviour. This is merely the beginning. Do you think that Bernard Madoff is the only one??? No way, he is one of many that have been found out so far.
Already we are seeing the signs of unrest around the world: a million people striking in France this week, riots and demonstrations in Greece, Latvia, Russia, Iceland...Already in the US, they are training the military for riot control. The Arizona police force is training the police for riots and economic calamity.
Be assured that draconian measures will be taken by governments around the world. It could be a bank holiday, it could be confiscating gold, it could be anything - probably something totally unexpected - but it will definitely be something dramatic that will hurt the everyday person and again the rich will benefit.
There will be bigger government, more intrusion, more spying. Crime will increase rapidly and there will be a growing underclass.
It is important to prepare for the worst: at least have a couple of weeks of water and food stored away, some gold, some weapons if you think it necessary as well.
Remember the banks might just close for a while - so make sure you have some cash on hand.
It doesn't cost anything to take protective measures.
Again, I tell you, I am not into doom and gloom, but I felt I had to write this blog urgently right now so that as many of you as possible can make preparations to protect yourselves.
For the future, it is going to take creative innovation: possibly in the field of alternative energy, medical breakthroughs, or climate change solutions.
First protect yourself and your family, and in future blogs I will discuss how the future can really be brighter for us all.
Take care.
Saturday, January 24, 2009
More Turmoil Ahead in the Financial Markets
2009 has started with a bang and even on inauguration day, the stock markets plummeted.
In my view, we are at the very beginning of the crisis. Once there is another wave of corporate defaults, there will be another phase of the banking crisis. Governments are trying to maintain the status quo with very little success. Throwing "helicopters of money" at the problem (Bernanke) is not solving the issues. Central banks are not ruled by the same laws as ordinary citizens and they do not have to report their figures or information to anyone. Shocking isn't it?
Well, here's what you can expect:
more waves of bank failures
more retail stores going bankrupt
more redundancies and job losses
further house price falls
increases in property taxes even with falling house prices
However, here's the flip side:
there is the opportunity for new money systems to emerge from this mess
a surge in complementary currencies and new ways for barter and exchange of goods and services
more internet types of exchanges
less of a stranglehold with few huge banks, but a plethora of different financial bodies being formed
new innovative ways of exchange
money becoming our master, rather than the vast majority being slaves to it
more transparency and honesty in the system as a whole
a NEW WORLD CURRENCY - you read it here remember!
I am not sure how this will come together, but there will be a new currency - it could maybe incorporate the USD, some EURO currency and an ASIAN mix of currencies. It is not clear yet, but there will be a whole new world as far as money is concerned.
Look closely at the Transition Towns movement - started in the UK - and spreading rapidly around the globe. This is in response to the situation of Peak Oil and Climate Change. It brings together the local community and can also involve the issuing of a local currency.
We have exciting times ahead.
I'll be back with more soon!
In my view, we are at the very beginning of the crisis. Once there is another wave of corporate defaults, there will be another phase of the banking crisis. Governments are trying to maintain the status quo with very little success. Throwing "helicopters of money" at the problem (Bernanke) is not solving the issues. Central banks are not ruled by the same laws as ordinary citizens and they do not have to report their figures or information to anyone. Shocking isn't it?
Well, here's what you can expect:
more waves of bank failures
more retail stores going bankrupt
more redundancies and job losses
further house price falls
increases in property taxes even with falling house prices
However, here's the flip side:
there is the opportunity for new money systems to emerge from this mess
a surge in complementary currencies and new ways for barter and exchange of goods and services
more internet types of exchanges
less of a stranglehold with few huge banks, but a plethora of different financial bodies being formed
new innovative ways of exchange
money becoming our master, rather than the vast majority being slaves to it
more transparency and honesty in the system as a whole
a NEW WORLD CURRENCY - you read it here remember!
I am not sure how this will come together, but there will be a new currency - it could maybe incorporate the USD, some EURO currency and an ASIAN mix of currencies. It is not clear yet, but there will be a whole new world as far as money is concerned.
Look closely at the Transition Towns movement - started in the UK - and spreading rapidly around the globe. This is in response to the situation of Peak Oil and Climate Change. It brings together the local community and can also involve the issuing of a local currency.
We have exciting times ahead.
I'll be back with more soon!
Sunday, January 4, 2009
Financial Markets for 2009
It's like the calm before the storm. Nothing terrible has happened on the financial markets over the Holiday Season. The Dow Jones has continued to rally and is now over 9000 points. There have been no other major catastrophes in the banking system since the Bernard Madoff fraud that have hit the news. All eyes are on the inauguration of Barack Obama on January 20th.
So what are the possible outcomes?
Firstly, I think that more disruptions, panics, insolvencies and revelations of huge fraudulent schemes will occur from about March 2009 onwards. Now is not the time to sit on your laurels, but to really think about what your options are. Have you protected your cash best you can? If you have savings, have you spread it around different banks? Have you set aside at least six months cash to live on should the banking establishments take a "holiday" for a while? It's much better to be prepared and not need it, than to be caught out.
If you have some money and want to be sure of its safety then you have two possible options:
- invest in US Treasury Bills
- invest in gold and silver coins and make sure you take delivery of them. Do not leave them in a bank or other financial institution.
There are not many other options for keeping your money safe.
Do not take out any debt if you can possibly help it.
Start thinking locally. What can you do to sustain yourself as far as food, energy and supplies are concerned? Can you get together with like-minded people in your community? Take a look at the Transition Towns movement which is taking hold in many countries around the world. This is about creating a local currency where goods and services are exchanged in your own currency. For example, a local Farmers Market, or creating a community vegetable garden are ways of becoming self-sufficient in your own backyard. This can be an exciting time as well as a frightening one.
It is finding the balance between the two: preparing yourself for the worst outcomes - no different than taking out insurance - no one expects their house to be flooded or to have a fire, but if you have insurance at least you are covered in the unlikely eventuality. This situation is no different. Protect yourself as best you can. Make sure you have a survival kit and have stored some food and water at the very minimum.
Then start to explore ways of getting involved in your local community. This will be one of the keys to survival when the crisis really hits home.
Wishing you all the best of luck!
So what are the possible outcomes?
Firstly, I think that more disruptions, panics, insolvencies and revelations of huge fraudulent schemes will occur from about March 2009 onwards. Now is not the time to sit on your laurels, but to really think about what your options are. Have you protected your cash best you can? If you have savings, have you spread it around different banks? Have you set aside at least six months cash to live on should the banking establishments take a "holiday" for a while? It's much better to be prepared and not need it, than to be caught out.
If you have some money and want to be sure of its safety then you have two possible options:
- invest in US Treasury Bills
- invest in gold and silver coins and make sure you take delivery of them. Do not leave them in a bank or other financial institution.
There are not many other options for keeping your money safe.
Do not take out any debt if you can possibly help it.
Start thinking locally. What can you do to sustain yourself as far as food, energy and supplies are concerned? Can you get together with like-minded people in your community? Take a look at the Transition Towns movement which is taking hold in many countries around the world. This is about creating a local currency where goods and services are exchanged in your own currency. For example, a local Farmers Market, or creating a community vegetable garden are ways of becoming self-sufficient in your own backyard. This can be an exciting time as well as a frightening one.
It is finding the balance between the two: preparing yourself for the worst outcomes - no different than taking out insurance - no one expects their house to be flooded or to have a fire, but if you have insurance at least you are covered in the unlikely eventuality. This situation is no different. Protect yourself as best you can. Make sure you have a survival kit and have stored some food and water at the very minimum.
Then start to explore ways of getting involved in your local community. This will be one of the keys to survival when the crisis really hits home.
Wishing you all the best of luck!
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