My wife wants me to order his books but I'm not sure they really have value. I'd like to hear from someone I feel like I can trust before I do. The full title of the main book is "America 2020 the Survival Blueprint".
Has anyone ever started a thread about how to prepare for what is coming down the pike regarding money? I've seen it referred to on this board but not discussed.
I haven't, but I've been hearing "experts" predict crashes for decades in order to sell their product/book/DVD/seminar/etc.
Maybe a crash is coming but it likely will be from a direction we didn't even see and there will be berkeley-all we can do to prepare for it.
Bump
Am I the only one feeling a little panicky? Really, I have no idea if the information Stansberry is supposed to provide has value or not. So far I've asked my accountant and my banker. The accountant said buy gold the banker looked out the window and had no real answer. I guess from the banks perspective they just want you to leave your money there.
Can anyone suggest a source of valuable information on the subject? If so it would be of great value to everyone on this board.
Graefin10 wrote: Bump Am I the only one feeling a little panicky? Really, I have no idea if the information Stansberry is supposed to provide has value or not. So far I've asked my accountant and my banker. The accountant said buy gold the banker looked out the window and had no real answer. I guess from the banks perspective they just want you to leave your money there. Can anyone suggest a source of valuable information on the subject? If so it would be of great value to everyone on this board.
The best you can do is...
I totally agree with KyAllroad comments.
I just turned 51 last week and I’ve used the following super simplistic investment strategy my whole adult life.
1 = Save until it hurts. 2 = Put everything you can in low cost S&P 500 Index Funds (VFINX, etc.). 3 = HOLD...do not sell your positions no matter what happens.
At this point, I’ve accumulated so much (over a million) that even if we have a major correction (say 50%), I’ll still be much better off than I would have been had I worked on building up a “prepper portfolio” all these years.
I teach advanced statistics for a living and I have yet to see any convincing evidence that there’s a better strategy than the 1-2-3 plan I laid out above.
Bottom line, things could fall apart but they probably won't so HOLD!
I honestly think there is no real reliable source. If there was a reliable source, then everyone would use it. There have always been doomsayers, there will always be doomsayers. People have been predicting the end of the country pretty much since it has started... hasn't happened yet.
There will be crashes, there will be recoveries. When you get old enough not to be able to risk a crash, you go very conservative. That is pretty much the general rule I think.
Economist, in general, seem to have no real reliable answers to economics (!), and you probably shouldn't trust those who say they do. I think it is best to looks as economist like you would a archaeologist. It's more a study of what has happened, then what will happen. They can make some guesses and suggestions about the future based on the past, but I would not bet on it.
I think one of the best ways to look at economics is not as a study of economics, but as a study of psychology, you will likely get a lot better guesses.
The fact the Ron Paul is pushing this is also very strange... and suspicious...
aircooled wrote: The fact the Ron Paul is pushing this is also very strange... and suspicious...
That's what got my wife's attention. It made me think that it could be helpful. IDK.
Guns. Buy guns. In gratuitous amounts. And ammo. When the bottom drops and goes full ThunderDome, YOU steal the items you need from those who prepared for it. (Kidding(but not really))
That can work, but if the end never comes, and you find yourself with a stockpile of weapons and no real use for them, you start to wonder if it was a good idea. You start hoping for it all to fall apart... wishing...
...then you realize, you don't need the end, you ARE the end, the bringer of darkness, you have a purpose...
(kidding (sort of))
aircooled wrote: ...then you realize, you don't need the end, you ARE the end, the bringer of darkness, you have a purpose... (kidding (sort of))
This is actually what some people think about people who collect guns
Grea, I say put all of your monies into funding me a race team. You may not have anything left, but we'll have fun while it lasted 
With any luck : nitro methane boggers.
Graefin10 wrote: Bump Am I the only one feeling a little panicky? Really, I have no idea if the information Stansberry is supposed to provide has value or not. So far I've asked my accountant and my banker. The accountant said buy gold the banker looked out the window and had no real answer. I guess from the banks perspective they just want you to leave your money there. Can anyone suggest a source of valuable information on the subject? If so it would be of great value to everyone on this board.
Here's my backup plan (my plan is the 1-2-3 described in another post). If for whatever reason the crap really hits the fan, I'm planning for any and all money to be worthless anyway. What do you need when you don't have any money?
Skills. You need real tangible skills that can help you make/invent/survive/eat things. You can even trade those skills to others with different skills.
So, if for whatever reason (that is likely out of my control) the economy/country/financial-system/life-as-we-know-it goes to crap, my backup plan is that I have some skills. I'd imagine most on this board are pretty well prepared skills wise.
I doubt the book has this idea in it.
Well, he has been busted by the SEC once officially and investigated numerous times. And he tried to appeal his conviction on 1st Amendment grounds.
From what I understand he's pretty much a film-flam artist pandering to the Alex Jones/Glenn Beck set.
rcutclif wrote: Skills. You need real tangible skills that can help you make/invent/survive/eat things. You can even trade those skills to others with different skills. So, if for whatever reason (that is likely out of my control) the economy/country/financial-system/life-as-we-know-it goes to crap, my backup plan is that I have some skills. I'd imagine most on this board are pretty well prepared skills wise.
that is just it. While I doubt that civilization will ever tank to the point that all money is worthless.. if that does occur, having a good skills set is what will keep you going. Gold is nice, but unless you have it in your sweaty little hands, it might as well be paper money.. and even then, if the economy is in such a shambles that paper is only good for TP, who is going to want your gold?
Invest in shotgun shells and canned food!!
Or not, whatever. I'm not worried.
Appleseed wrote: Guns. Buy guns. In gratuitous amounts. And ammo. When the bottom drops and goes full ThunderDome, YOU steal the items you need from those who prepared for it. (Kidding(but not really))
That has been my plan. I know someone who has been in a constant state of doomsday prepping since Y2K. He's less than a tank of gas away and his wife only let's him arm the kids with paintball guns.
They only sting for a second.
Am I the only one not particularly interested in surviving a worldwide economic collapse and ensuing post-Apocalyptic "world" these people paint a picture of?
Too much bravado and Hollywood movies that it would somehow be enjoyable.
In reply to z31maniac:
No, it looks exhausting.
I subscribe to a couple of Stansberry investment reports. They are actually rather interesting to read. Nothing like the "doom & gloom" of the book or the promo video for it I watched a few years ago.
The articles often provide an interesting perspective on world events and various economic situations that are not really "conservative" or "liberal", but purely driven by "greed." Or, "how can we take advantage of this situation in order to make the most money." They have even added a comment to that regard about a couple of companies (paraphrased): "Look... we realize this company sells a product many would choose not to support, but that's not our concern. Our job here is provide investment opportunities. What you choose to do with that is your business."
Although I have yet to act on any of the investment recommendations, I consider the $35/yr for the newsletters good entertainment value. I suppose it appeals to the rational engineer in me.
And that, Ian is what is wrong with the world. People are willing and able to put aside their moral objections to something in order to make a profit... and there are companies out there enabling them
mad_machine wrote: And that, Ian is what is wrong with the world. People are willing and able to put aside their moral objections to something in order to make a profit... and there are companies out there enabling them
I subscribe to the “if it’s legal, it’s legal” school of thought. One of the dad’s that drops off his kid at my kid’s school happens to be a pron star (because California) and many of the parents have a problem with him. In my mind, legal is legal…I’ve got my job to do and he has his job to do; no different.
JG Pasterjak wrote: From what I understand he's pretty much a film-flam artist pandering to the Alex Jones/Glenn Beck set.
I think all of those financial/doomsday/whatever pundits are flim-flam artists.
Live your life, save more than you spend, and things will work out.
Most of these books are Alex Jones nuttery and pointless reads. Every 10 years 10 years from now is a doomsday. It's nonsense.
Greece is experiencing doomsday. What are people doing there to survive?
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