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What Are We To Do Toavoid The Coming Economic And Social Disaster


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A site regarding HPC but a site populated by intelligent people and more importantly, a site that is accessible to the average bod.

So, I ask you this:

Apart from being involved in property, what will you do or put in place to avoid the coming mess?

There is obvioisly a social and economic problem on the horizon but compared to previous problems, how does it compare?

What I cannot understand is that surely anyone involved financially whether property, stocks and even cash during a major problem willbe f***ed.

Forget the pros and cons of propert, how are you lot preparing?

:unsure:

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A site regarding HPC but a site populated by intelligent people and more importantly, a site that is accessible to the average bod.

So, I ask you this:

Apart from being involved in property, what will you do or put in place to avoid the coming mess?

There is obvioisly a social and economic problem on the horizon but compared to previous problems, how does it compare?

What I cannot understand is that surely anyone involved financially whether property, stocks and even cash during a major problem willbe f***ed.

Forget the pros and cons of propert, how are you lot preparing?

:unsure:

1. Reduce your amount of debt you have (once done, goto 2)

2. Secure your wealth, have some exposure to gold (once done, goto 3)

3. Make sure you live within 3 minutes of your air raid shelter!

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Several things you can do:

Buy stocks (not bubble stocks of course) - during the last crash, stocks rose sharply in value (after an initial 11% decline).

Find yourself a nice public sector job and hope the Tories don't get in (personally I hope they do get in and half the size of the civil service).

Rely on savings you have put away during the boom times (oooops, seems a few people have forgotton to do this!)

Be grateful you haven't mewed up to your eyeballs and are now in negative equity (oh dear!).

Buy a bit of gold (good if you got in early).

If it gets really messy, buy a shotgun and a couple of alsations.

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Well, this has been my big concern since returning to the UK a few years ago.

Initially I did the "right" thing and bought the best I could afford in the poshest area possible (location, location, location) and started my own business.

It occurred to me that whilst in the past inflation had eroded the real value of my previous mortgage, it wasnt going to happen this time. In addition running a small company is not going to guarantee me inflation busting pay rises. It dawned on me that my mortgage was too big.

Conclusion - eliminate all debt. I am now in the happy position of having no debt and having some cash and assets stored away in safe places - including gold.

Edited by paradox
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If debt reduced and income from property (rents) is that good?

Gold, havent we missed the boat or is £50k of gold in your safe always a good option?

Wheres my nearest shelter? (It wont get that bad willl it :o)

Buy stocks but what - If things get as bad as predicted then surely most stocks will be crap short to medium term?

I couldn't for for someone else as I smell.

Rely on savings - of how much?

MEW is for fools

Got an airpistol and a jack russell????

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I will move well out of Hackney, hopefully I will time it before they start burning cars parisian style, not after.

When the middle classes no longer have money to spend on cocaine, a lot of people here will be poorer and will get angry.

Apart from that - I am holding cash not gold. Deflation rather than inflation is the end game here.

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Dear Mr look after the kids,

It all depends on your circumstances. If you have stable rental income and lots of equity in your family home and your rental properties then I reckon you are as safe as anyone.

You sound quite smug and I am sure you have not over geared yourself so I would not worry about it too much: enjoy your kids and the work - life balance that you have endeavoured to carve out for yourself. In fact this would be the chance to prove that the financial freedom you were seeking has paid off.

Edited by paradox
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Keep in touch with your friends and family and build on the good relationships you have. You might need them, they might need you.

frugalista

Apart from that - I am holding cash not gold. Deflation rather than inflation is the end game here.

Interesting! Why do you think deflation is the end game?

frugalista

Edited by frugalista
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Guest Bart of Darkness
Buy stocks (not bubble stocks of course) - during the last crash, stocks rose sharply in value (after an initial 11% decline).

Any particular recommendations?

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