The stock market is soaring to new record highs. The housing market is on the mend. The U.S. is stuttering out of recession. The unemployment numbers are grinding lower. Are we out of the woods and the happy days are here again? If you can do basic math regarding interest rates and the national debt and block out the hype coming from the media and the Federal Reserve about the recovery you probably have the same uneasy feeling I do.
I try to not listen to too much “the end is near” and “it’s going to be worse than The Great Depression” type talk, but it can give you ideas of the potential for true economic collapse. At the same time I do not believe that the U.S. government is leading us down the right road to lead us back to prosperity. The government can only take us part of the way to true recovery. Private industry has to take over at some point and so far they are only riding the wave of money printing, not creating their own wave to ride.
It us up to each individual to research trusted resources to predict your future and prepare for it. Preparing for a recovery is easy. Make a list of all of the stuff you want to buy, right? ‘In times of peace prepare for war’ is a quote I heard recently that if applied to the economy fits what I am writing about. ‘In times of plenty prepare for times of less.’
I listen to The Financial Sense Newshour podcast every weekend. They put out 2-3 hours about the weeks news about the economy plus another hour on Mondays called the Lifetime Income Series about retirement planning. They recently have had a three episodes about potential crisis and what to expect that I think everyone should listen to.
Most people I speak with about the economy see some of what is happening but don’t seem to be doing anything about it. I ask you, what do you think we all should be doing to prepare for potential bad times again? What do you think it will look like? Do you have any other research material to share with us? Please, post in the comments below and thank you for your help!