What you should be doing to prepare for upcoming global economic depression.

[BillyPilgrim]

I feel like you need to be hiding away in the basement with no internet to not see the sh1tty situation we are in.

Billionaires are shouting that we are in for a rude awakening soon on social media to their millionaires of followers. Especially the ones who have their businesses affected by these horrible policies like Elon Musk with Tesla and SpaceX. His raw materials are being effected by global economic downturn when countries like China are now limiting exports of the core materials needed in EV's. The EV industry will face heavy headwinds due to this. The interest rates are also crushing Tesla sales and he's doing the smart thing by quickly dropping prices to firesale what he can while the opposite is happening in the real estate market.

At the risk of further derailment, Musk, along with Buffet, Bezos, and Gates, is planning on heavily mining lithium in an area of California where doing so is a very bad idea. They are drying up a giant toxic lake southeast of Palm Springs (the Salton Sea) that currently has underwater deposits, but also that not only has tons of toxins in the lake bed that would ruin the area, and is also right on top of the San Andreas Fault where the mining could trigger a massive earthquake (aka the "Big One"). Those in the know realize what kind of anti-hman ahole Gates is with his vaccine and depopulation fetishes, and the other three are "in the club" as George Carlin would say. Oh and btw, there was a massive earthquake triggered just to the south, in Mexico, by a lithium extraction plant that happened to occur on Easter Sunday back in 2009. Obv, destroying Southern California as we know it and possibly igniting the Ring of Fire wouldn't be good for the economy. (While the San Andreas doesn't run directly through LA, it would destroy major infrastructure and transportation routes that lead into it through the Banning Pass).

So the EV industry may be saved, but at what cost? You take a problem, propose a solution, and make sure the solution is significantly worse than the original problem. The typical MO of the Elites.

 

[jaygreenb]

The counter argument to this is that resources are finite and a lower population is desirable. You'll have short-term pain of course but you're much better off over the middle and longer terms.

I wouldn't say India has good demographics when it's extremely overcrowded, the quality of life is poor and over 50% of the population is under 25. Would they be better off with 2 billion people instead of the current 1.4 billion in an area not much larger than Mexico?

That isn't really a part of the demo calculation, it is the replacement rate of the older population that is becoming non productive and a net negative on production/consumption. There are many variables but if you do not have that key metric you are basically cooked as a nation and will be on the decline. You need that through the people having a higher replacement rate of children or immigration. India actually has a high rate of educated workforce and with technology/remote work/lower labor costs they are grabbing a growing percentage of skilled work. Of course they are far from perfect but on that alone that is going to give them a higher percentage of being a nation with an upward trajectory as opposed to the west that will be on the decline. That also doesn't mean India will surpass the west on living standards, just from a starting point of today will increase over time and western decrease over time

 

[RickTheToad]

Enjoy the boiling water, frog.

 

[AAAgent]

View attachment 11457

I see you belong to the hiding away in the basement crowd.

 

[AAAgent]

The point of this thread is to be prepared. Most of the economic financial data points when broken down, point to a downturn. If it wasn't so, the fed/government wouldn't be constantly trying to deflect saying "soft landing", "no recession", "bidenomics is working", all while people are shouting all over tiktok, twitter, youtube, and instagram how they are barely able to get by.

CHART OF THE DAY: The extra money people saved during COVID is almost gone

"The sunset of government stimulus and relief programs and diminishing savings should result in higher delinquency rates and charge-offs."

www.businessinsider.com

https://twitter.com/i/web/status/1722265467283214339

Instead of the focus on fear mongering, i'm more focused on helping people that aren't aware or looking to prepare, providing them information on what can be done as opposed to making money. More importantly, now is the time to preserve your wealth/purchasing power.

During the GFC i saw my neighbors family lose their house and luxury cars. No clue what they moved to but saw it happen very quickly over a few months cars went from luxury to beaters, and then house up for sale, finally, they moved. I remember hitting my friends with similar messages early in 2023 saying layoffs will increase, real estate will come down, and they didn't agree. Now they have friends companies filing for bankruptcy (David's Bridal), pricings coming down for RE and supply dwindling, people not being able to find jobs. Even my current companies numbers are down across Europe and North America.

What was a clear sign was the "Rich Men North of Richmond" song taking off and going viral.

 

[RickTheToad]

I see you belong to the hiding away in the basement crowd.

Hardly. I have no personal debt. 100k in Crypto, 10 million+ in real estate, pension, 250k+ in precious medals and 250k+ in various FDIC accounts. I also have CCP in CT and NY along with 5000k in bullets. I never say never, but to think the sky is falling is weak. It will be what it will be. I can only take so many precautions.

 

[AAAgent]

Hardly. I have no personal debt. 100k in Crypto, 10 million+ in real estate, pension, 250k+ in precious medals and 250k+ in various FDIC accounts. I also have CCP in CT and NY along with 5000k in bullets. I never say never, but to think the sky is falling is weak. It will be what it will be. I can only take so many precautions.

The message and information isn't for you then. It's meant for the younger folk who haven't prepared and don't have their act together. Majority of the younger guys on this forum don't have even a 50th of that. Glad to see others are financially responsible and would be good to set examples and provide paths to achieving financial responsibility and freedom. Especially in an environment where the brainwashing is so strong everywhere that people are constantly confused and blind sided.

 

[RickTheToad]

The message and information isn't for you then. It's meant for the younger folk who haven't prepared and don't have their act together. Majority of the younger guys on this forum don't have even a 50th of that. Glad to see others are financially responsible and would be good to set examples and provide paths to achieving financial responsibility and freedom. Especially in an environment where the brainwashing is so strong everywhere that people are constantly confused and blind sided.

I'm 37.

Most dudes are too focused on pvssy and b!tches instead of getting their financial game in order. Nearly living in poverty and the street can straighten a dude out real quick. That and the armed forces.

 

[AAAgent]

I'm 37.

Most dudes are too focused on pvssy and b!tches instead of getting their financial game in order. Nearly living in poverty and the street can straighten a dude out real quick. That and the armed forces.

Exactly. Also, congrats on reaching middle age.

 

[jaygreenb]

Hardly. I have no personal debt. 100k in Crypto, 10 million+ in real estate, pension, 250k+ in precious medals and 250k+ in various FDIC accounts. I also have CCP in CT and NY along with 5000k in bullets. I never say never, but to think the sky is falling is weak. It will be what it will be. I can only take so many precautions.

That is very impressive, especially by your age. Assuming 10m in RE is total value and not minus debt?

 

[RickTheToad]

That is very impressive, especially by your age. Assuming 10m in RE is total value and not minus debt?

Correct, that's the total amount. Most of the props. are worth near double what I paid for them. Nothing special, just rinse and repeat. BRRRR (buy, rehab, rent, refinance, repeat). One is moving every year (as per Fannie Mae's requirements), but I'm a minimalist, so it wasn't that hard.

 

[Pierce Manhammer]

Is this all before or after they come clean about the alien base under the Denver Airport?

(asking for a friend...)

 

[jaygreenb]

Correct, that's the total amount. Most of the props. are worth near double what I paid for them. Nothing special, just rinse and repeat. BRRRR (buy, rehab, rent, refinance, repeat). One is moving every year (as per Fannie Mae's requirements), but I'm a minimalist, so it wasn't that hard.

Yep, find your niche, become an expert in it and keep banging it out. As your wealth grows spread it out some to minimize downside. If you can avoid materialism/lifestyle creep upgrade trap for 5-10yrs and heavily invest, you're set. I did something similar, never was really flashy so not that hard and by the time you get there flexing isn't nearly as appealing.

Recently started to get into a somewhat expensive hobby but if done correctly you can make money, so good balance for me since I hate just wasting it lol Basically buying cars on the cusp of being classics from the 80's/90's with a cult following, haven't had major price runs yet and in mint/stock/low mileage condition. Bought my first a month ago, loved the whole process of tracking down/researching/negotiating etc. Def doing another one

 

[RickTheToad]

Yep, find your niche, become an expert in it and keep banging it out. As your wealth grows spread it out some to minimize downside. If you can avoid materialism/lifestyle creep upgrade trap for 5-10yrs and heavily invest, you're set. I did something similar, never was really flashy so not that hard and by the time you get there flexing isn't nearly as appealing.

Recently started to get into a somewhat expensive hobby but if done correctly you can make money, so good balance for me since I hate just wasting it lol Basically buying cars on the cusp of being classics from the 80's/90's with a cult following, haven't had major price runs yet and in mint/stock/low mileage condition. Bought my first a month ago, loved the whole process of tracking down/researching/negotiating etc. Def doing another one

Very cool. In this day and age, the only one's who continue to improve themselves are the one's who hustle and carve out their piece of the world. We just keep on having to pivot to continue to excel in this world.

 

[jaygreenb]

Very cool. In this day and age, the only one's who continue to improve themselves are the one's who hustle and carve out their piece of the world. We just keep on having to pivot to continue to excel in this world.

Completely agree, I actually really enjoy learning about this stuff and applying it, sounds like you do too. Most people look at you like you have two heads when you talk about anything not mainstream/standard, bar is pretty low lol

 

[Pierce Manhammer]

TEOTWAWKI has been coming since the 60’s if you’re old enough you remember Brown, Kephart and Saxon. If you’re a youngster you probably have heard of Rawles.

By no means am I saying not to have a deep pantry, some precious metals, firearms and training and a veggie garden. Not Galts Gulch, but at least you have something to fallback on for a while.

A laying hen will suddenly be worth a $20 Lib if the ballon goes up.

It’s not enough to survive, you have to live.

 

[RickTheToad]

Completely agree, I actually really enjoy learning about this stuff and applying it, sounds like you do too. Most people look at you like you have two heads when you talk about anything not mainstream/standard, bar is pretty low lol

I strive NOT to be average. Average is broke and a slave to debt. My old saying is, banks pay me, I don't pay the bank. Everyone should have four or five streams of income.

Salary, rental income, dividends, side hustles and crypto for me.

 

[SargeMaximus]

Everyone and their dog is calling for a recession

 

[jaygreenb]

I strive NOT to be average. Average is broke and a slave to debt. My old saying is, banks pay me, I don't pay the bank. Everyone should have four or five streams of income.

Salary, rental income, dividends, side hustles and crypto for me.

Agree. My business, other investments and crypto make up vast majority. I have some commercial RE but nothing substantial. Trying to focus more on the income producing assets side but just being patient at this point and sitting in cash/tbills getting 5%+

 

[AAAgent]

Everyone and their dog is calling for a recession

That's probably because layoffs galore and expanding to more and more industries. People are running out of savings as costs continue to increase across the board. Layoffs have been happening at my company since early 2022 and are still continuing to weed out the weak that can't survive. Even Apple's numbers are down.