There must have been a similar thread about surviving the current finanical crisis but I don't seem to find it.

OK. What I am doing so far is liquidate half of my bank account(s) and use the money to buy more preps.

That is not exactly a long-term solution but it is the only one I can see now.


How about you ?

Good move. Money in the bank can be frozen or lost if the bank collapses. But keeping cash in a safe place isn't a bad idea unless inflation hits us real bad. I keep a few bucks handy.

1. Maximize cash inflow with a detailed plan.
2. Minimize cash outflow with a detailed plan.
3. Sell what is not of use if you can
4. Buy what is VERY IMPORTANT if you can.
3. Prepare for "Recession Crimes" such as petty theft, burglary, assault and home invasion.

IMO, the only thing you have to worry about with your bank accounts, specifically checking and savings (and some CD's) is if they are below the FDIC insured limit, previously 100,000, now (if I heard correctly) going up to 250,000. Spread the accounts over several different banks, all accounts below the FDIC limit.

Investments, like stocks, mutual funds, etc. are not FDIC insured and have already taken a big hit over the last year. It could get worse, possibly much worse in the stock market. To sell now or ride it out? As the old saying goes, "you pay your money and you make your choice."

Preps are good, but IMHO I don't think dumping half your bank account $$ into preps is wise. One possible outcome of the present situation is "deflation" (the opposite of "inflation"), something not seen since the great depression, where CASH gained value and purchasing power, just the opposite of inflation where CASH loses purchasing power and value.

Good Luck with the preps.

Nothing.

That's the nice thing about preparedness. When TSHTF then it frees one up to not have to make any major adjustments out of fear.

The worst thing to do is panic and start making wholesale changes.

The investments stay as is. They're in it for the long haul.

The savings are FDIC insured and are just fine where they are. Already have emergency funds factored into routine budgeting.

Food stocks: already factored into routine preparations.

Employment: Recession resistant profession.

Ammo: "sufficient" Never disclose defensive information.

The only change is I need to get a new bicycle pump. I screwed up the one I just bought trying to make the cotton-picking thing fit the tire nipple.

Famous last words "let me get my pocket knife, I'll make it fit..."

I do regret not having some money to "play with" in order to by some stocks. Looks like there's a great sale going on.

+1 on that.
Ancient stock market tip: "Buy low, sell high."
Prices are low, so. . .

If you think the house prices are low now, I wonder what it will be if we go into a deep recession like in the 30's. That sold a house in Detroit for a dollar which was unheard of, but that's Detroit, high crime, now jobs and the weak are killed and eaten

I guess cajuns think alike: I am right where Samhain is.

Nothing more than I did last week. I like to think I'm ready if TSHTF. If not, I'll adapt/adjust as needed.

You messed up your bicycle pump too?



Seriously, I feel about this like I feel about the folks freaking out at the last minute when there's a hurricane off the coast.

Financial ups and downs are a part of life. Just like bad weather, and mechanical breakdowns.

I get aggravated when folks act surprised when something happens, and then freak out and over react.