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14 Questions People Ask About How To Prepare For The Collapse Of The Economy

from The Economic Collapse Blog:

How in the world is someone supposed to actually prepare for an economic collapse? What should you do with your money? How can you make sure that your family is going to be okay? How can you prepare if your resources are extremely limited? These are the kinds of questions people ask me all the time. Once people understand that the economy has been collapsing and will continue to collapse, then the next step for most of them is that they want to get prepared for the storm that is coming. So where should someone get started? Well, the truth is that no two people are facing the exact same set of circumstances, so preparation is going to look different for each individual. But there are certain core principles that we can all benefit from. For example, when a financial storm is coming that is not the time to be blowing thousands of dollars on vacations and new toys. You would be surprised at how many people there are that claim that they have no extra money in their budgets and yet somehow have plenty of money to run down to Wal-Mart and buy a big stack of DVDs. When times are difficult, each hard-earned dollar becomes much more precious, and we all need to start getting into the habit of making the most out of our limited resources. The seemingly endless prosperity that we have all been enjoying for decades is coming to an end, and most of us have absolutely no experience on how to deal with truly hard times. If you are under the age of 60, it might be a really good idea to read a book or two on what conditions were like during the Great Depression of the 1930s. There is a lot that we can learn from our own history.

Read More @ TheEconomicCollpaseBlog.com

1 comment to 14 Questions People Ask About How To Prepare For The Collapse Of The Economy

  • Frank Zak

    (note Zero Hedge says new housing boom due to money laundering)

    U.S. NEWS
    Updated August 7, 2012, 10:21 p.m. ET
    Home Prices Climb as Supply Dwindles.

    BY NICK TIMIRAOS
    Home prices rose by their largest percentage in at least seven years during the second quarter, propelled by low inventories of properties for sale and high demand for bargain-priced foreclosures, according to two reports Tuesday.

    Prices rose by 2.5% in June from a year ago, and by 6% from the previous quarter, said CoreLogic Inc., a Santa Ana, Calif., data firm. The quarterly jump was the largest since 2005.
    =============
    U, S. News
    Why Buffett Is Betting Big on HousingWhat does Warren Buffett see that no one else does? He just made an outsize bid on ResCap loans, the latest example of his bet that the housing market represents a great investment opportunity. Joe Light has details on The News Hub.

    Separately, Freddie Mac, which uses a different methodology, said home prices during the second quarter jumped by 4.8% from the previous quarter. That was the largest jump since 2004.

    http://live.wsj.com/video/why-buffett-is-betting-big-on-housing/432BAEE2-88DB-4382-9496-2DA9F86E3047.html?mod=wsj_article_tboleft#!432BAEE2-88DB-4382-9496-2DA9F86E3047

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