How To Protect Yourself As The Global Economies Move Closer To Collapse
How To Protect Yourself As The Global Economies Move Closer To Collapse
(posted with permission from http://sane-ramblings.blogspot.com/2012/06/how-to-protect-yourself-as-global.html)
Largely outside of public awareness, the U.K. has created "New Firepower" to flood its banks with cheap money in a desperate attempt to protect its teetering economy as the Euro Zone falls apart. The U.S. Fed meanwhile is flooding the European Central Bank with dollars hoping to prevent the global financial markets from freezing up. Both efforts will fail.
Greece, Italy and Spain, the latter two nations being the Euro Zone's 3rd and 4th largest economies can't pay their bills without huge bailouts and the cost for Spain to borrow money just hit another high yesterday. If Greece is forced to withdraw from the Euro Zone, its currency will return to the drachma, and its government will print as many as it can to pay its bills, which will destroy the currency's value.
Bank runs have already begun in Greece and Spain. In the U.S. its government could not pay its bills right now without borrowing money from China and from others across the world. While yesterday, German Chancellor Angela Merkel in a speech to the German Parliament appealed to the world to get involved in what is a global economic crisis, not a European one. I agree with her and will add one more thing: As we saw in the Fall of 2008, when economies begin a collapse, panic sets in and it happens fast.
But our Question is, how can you protect yourself as the Euro Zone falls apart, taking the global economy with it:
1) Take care of your health. Without good health, you can do little to protect yourself and your loved ones at such a crucial time. If you suffer from diabetes, heart disease and other often preventable but severe diseases, do something about it, starting today. Begin eating wisely, slashing junk foods and get some exercise. Your well-being depends on it!
2) Protect your job. Cross train so you have more to offer your employer, find ways to help generate revenue or cut costs because that is how nearly every organization is now focused, be upbeat because no-one wants to be near a complainer and word about complainers travels far and fast and tackle jobs your boss feels are essential but doesn't want to personally do. And with a smile, the more you can do to help others in your organization with their work, the more support you will receive from them and this is a time when everyone needs the support of others.
3) Slash your overhead. Sell-off unessential items such as an extra car, or a motorcycle, boat or other toys you may no longer be using but cost you money to keep. Pay down or pay-off your credit cards for those monthly payments are eating your budget alive. If need be, approach those credit providers to explain the dire nature of your finances and try to get a forgiveness of some of your debt or better payment terms.
4) Educate yourself with practical courses. Select online, extension or other courses that can put money in your pocket such as those related to computers, medical care or other much needed skills.
5) Make charitable donations. To the extent you can afford to, please give generously to charities for in the end, all we have is each other. And the donation you make now may help someone else get back on his feet and in turn he may later help you get back on your feet.
One final note: Together we will get through the horrors of this financial crisis, for the world has had many financial crises and after considerable hardship, it always survives them. During the 1930's Great Depression, people came together to help one another and as times grow worse that is what we will do now.
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If you would like to see a 3 minute humorous piece dealing with the faltering economies...
= new reply since forum marked as read
I'm surprised more people did not find it important.
