Tuesday, January 28, 2014
The Day After the Bubble Pops
Recently I was listening to the podcast from James Turk linked up over at peak prosperity. Most of it was a repeat of ideas I have heard before and agree with but one statement rung out very strong this time.
And as result, the wrong kinds of wealth – today, that's mostly financial assets – are valued and pursued. And just like those bubbles from centuries ago, when the current asset boom goes bust, the value of paper wealth will vaporize.
I would take this a bit further and say that not only will the value of paper wealth vaporize but so will the ties that bind any contract or government promise.
Apparently Turk and someone else have a new book out titled "The Money Bubble: What to do Before it Pops" Which sounds interesting and I will more than likely look to get a copy but judging from the article the same advice applies..... Buy tangibles.
I think there is a little more too it than that.
You must have a plan in place now that allows you to produce something. Either foodstuffs, a skill in demand or something over and above all the physical goods and tangibles in the basement. Probably of more importance than being productive is that you also check your ego at bubble popping time. No matter how important, demanding, dangerous or needed you feel you were before the bubble burst your value is going to be reassessed with the rest of the financial world the day after the bubble pops and that value will be called "Current Market Value".
If any part of your survival plan rests on payment of or the delivery of funds for actions that happened before the bubble pops than you might as well write them off now and forget about them. When rules change by necessity so do commitments. Remember some of the least binding contracts or commitments come from governments and organizations because no one's personal honor is on the line in those instances if they are broken.
In a scenario such as this the first few weeks will be the hardest. During that time everyone who has a stash of some kind, be it beans, bullets, cooking oil or condiments will think he or she owns free tickets to heaven and will not part with them easily. After a few weeks of sucking on ketchup packets however these attitudes will change and a new economy will emerge and that is what you must be prepared for.
Paper shuffling, human resource management, data entry, well I doubt these are going to be skills with any sort of current market value no matter how important you think they are today. After the bubble pops you need to know you present a marketable skill or product that the consumer will want and need and there are many skills out there to choose. From gun smithing to goat herding pick one now.
Seriously I don't care if you are retired. I don't care if you worked your butt off day in and day out and feel you deserve something you were promised. Unless you can go grab the person that promised you something by the neck you ain't gonna get it after the financial collapse.
Get a skill or acquire the tools/resources you need to offer something now while the getting is good. Don't whine about it. Don't complain. Just do it. If I am wrong you haven't really wasted anything but if I am right you will find a new piece of mind and sense of importance that may be more appealing for you personally in the long run.
It's one thing to be successful in a government controlled society. It's an entirely different accomplishment to survive and thrive under the rules of mother nature. If you can accomplish that you have something to be proud of and a gene pool contribution worthy of continuance.
Keep Prepping Everyone!!!!