I forgot to write about cryptocurrency. Actually it is the money of future. Right now paper moneies are going to remain as mainstream. Later, after financial crash when govts will impose strict control over finance and banking then digital money will start to become mainstream.
Thank you for this, Asian. Very helpful. I keep telling my husband that I want to shift out of the financial markets and into land ownership (for some reason, it feels less daunting than the precious metals market) but it seems like such an unknown area for us. Guess I need to brush up on my research. I did already purchase a bit of Bitcoin, but not sure if that's even the way things will move. But I do know in my heart of hearts that you're right about the outlook.
Wondering if anyone on the boards has seen anything in recent scans regarding the economy. There seems to be a lot of economists lately saying that the crash is imminent - and that it won't be based on the presidency or North Korea or anything like that, just a dramatic crash due to overvalued stock markets. This would have a huge impact, of course, on everyone and everything. Has anyone had anything pop up around this lately?
Regarding safeguarding money, I'm going to cash in my 401ks and store the money into a safe deposit box. You would think it would be a better idea to put that money into a savings or checking account but I don't have a great outlook of the economy in the next several years. I think WW3 is going to happen and the government in an act of desperation might seize retirement accounts to fund the war effort.
In a reading I did several years ago, I saw something coming in 2019 or 2020 that looked like a bear market. If those visions are accurate, I can't tell you why the market crashes, although it doesn't take a psychic to see that there's enough built into the system to make it happen. I can tell you that I feel it comes from the actions and policies of this president and the reactionary oligarchs who fund the GOP Congress. Their policies are not sustainable. They are raiding the system, that's how they operate. They are like locusts. And so that system will collapse.
In the short term, the Republican policies drive the market up. And that has happened in the past year. But it's not from policies that create a strong economy. It's more like cocaine or sugar driving up someone's nervous system. It's a temporary high. In the case of the economy, it is from policies that benefit only a tiny fringe of society. The society itself is collapsing from within.
I saw this bear market coming when on a week-long silent retreat back in 2013 or 2014. I saw it in two or three meditations -- a downward descent in the U.S. markets. It is possible that in its early phases (2017 and 2019) I was seeing was a graph of the U.S. Collective nervous system rather than the Dow Jones Industrial Average. But they are related, and if the U.S. Collective nervous system takes a downward plunge into depression, then the markets can't too far behind. But I felt I was seeing the markets themselves starting in late 2019. I also saw it come back in 2028.
If I'm correct, it will be big. I advise paying off debt now.
Thank you both for your insights. It seems like 2019 seems to come up over and over, so we may be able to last in this current market for a while, but I want to be prepared to pull things out BEFORE things turn.. but obviously not be short-sighted and do it too early. We're lucky in that most debt is taken care of, but we do have a significant sum in investments and I literally am losing sleep at night with the notion of the market taking a sharp and sudden nosedive. I'll keep an eye on things through the rest of 2017 and into 2018, but I agree with the idea that things are likely to really dive in 2019. The economic indicators seem to follow that at this moment.
I read this article, Gary Cohn fears this is how the next crisis will happen, and my boyfriend, who lost his job as a hedgefund analyst in the last downturn, said this is definitely a concern.
Ran across an article on the rising cost of extracting energy and how that affects the overall economy. The amount of energy required to extract a unit of energy has steadily increased since the 1930s. They don't paint a pretty picture for economic growth through the end of the century.
Danzi, Talk to a financial planner (one who you pay by the hour, not one who wants to sell you something) about creating a "defensive" investment strategy. (Many people see a bubble in stocks and are doing this now.) If you really think that everything is going to heck in a handbasket in the near future, do what Mormons do and build up a six month supply of food staples stored in your basement (slowly over time). (Forget the Army rations.)
Thanks for the good advice, all. I certainly am not counting on this forum to be the answer, certainly supplementing with my own research.. but I do agree that I think the time is upon us to do some sort of defensive reallocation before we are too late. I do worry things are going to hell in a hand basket, but I'm just not entirely sure when. By current economic indicators, we could have another year of artificial, insane growth before it all falls apart. Who knows. If anything, better to be prepared on all fronts, as you all said.