Monday, September 22, 2008


Now that economy is starting to unravel at a quicker pace, I thought I would post another warning blog post. You can see my initial March'08 blog on the subject.

You can find multiple youtube videos, blogs, news articles (avoid some of the tainted mainstream ones :P), informational articles on all sorts of possibilities for where our economy is headed. They range from clueless optimism "the fundamentals of our economy is strong" to pessimistic "the dollar will collapse and we will go to the Amero"... Wade through the information online and decide for yourself.

Things you can do:

-unemployment numbers will likely increase so make yourself indispensable at your workplace
-if you know your company is in trouble and/or is downsizing, do your job research and resume writing now; certain job sectors will be much harder hit than others--widespread job loss will take a little longer to trickle down as many companies will slowly cut back
-learn to lower your spending in all areas and live on less if your not doing so already
-have a couple months living expenses in cash on hand
-bad time to get into debt if you are unsure about your job
-debt in a deflationary period is really bad, inflationary period debt is much better than deflationary, but best to pay down debt if you can do so while having extra money on-hand
-have about two weeks supply of canned food, water, anything you would normally keep to prepare for natural disasters such as earthquakes, hurricanes, etc.
-keep your gas tank filled over a 1/2 tank

There is much more advice that can be found online. Just a few thoughts I wanted to pass on. Keep your eyes and ears open over the next few months.

It'll be interesting to say the least.