I’m a fairly politically engaged individual here in America. I’m familiar with the debate going on over issues like health care, immigration, etc. More importantly, and more passionately, I’m an econ-junkie. I read constantly on the markets, the economy and global events in relation to the global economy. The more you read on the economy and the financial situations of the United States and many countries around the world, the more the other issues (like health care) become less significant. The reality is that the economic and fiscal woes of America and most of the developed world are nothing short of horrific. This consequences of these issues will be felt much more and much sooner than say health care rationing as a result of America moving towards social medicine.
The policy responses to the global recession over the last few years are completely unprecendented. Never before have global economies performed such an economic experiment to this degree in the history of the world. Simply put, the central banks and their printing of money in concert together around the globe has never been done to this extent. We are definitely in uncharted waters.
It is imperative that individuals take necessary precautions to hedge against these massive risks that we are facing in the years to come. Investing in real assets like precious metals is imperative. Holding physical gold is not an investment, it is insurance. Furthermore, invest in useful, necessary items like ammunition, food, water, clothing, health products, etc. If the shelf life is long enough, you won’t lose on these items, and any gains you haev on them won’t be taxed. It’s a win-win scenario. For more on such a strategy, check out the Alpha Strategy. A must read for economic preppers.
The days ahead are scary. For me, I have a growing family, and I look at my little children and wonder if we’re crazy to try and raise a family with the world moving into the direction that it is. I take solace in the fact that God is sovereign and that my family will be fine without the luxuries that most Americans have become accustomed to. Furthermore, I will take necessary steps to prepare and make our family more aware and more able to withstand potential risks down the road.