Boy, did we have a goood run for the last 75 years in the West (economically). Outside of some "recessions", it was mainly up,up,up.

 

(When the tide rises, all the boats rise with it). Thanks to productivity gains/technological advances, but mainly by financing all this by dept (Government/Corporate/Private).

 

- An expensive "social security" concept was established and other government "givaways", not covered by Taxes. Why raise taxes if you can borrow the money?

 

But now, the focus increasingly shifts toward the cost of servicing the debt. (Just interest). Some countries are nearing a "critical level".

 

We are running out of financial Hokus Pokus to keep the credit engine running. Possibly the tide will reverse and all the boats will have to go down with the tide. A clensing of a overextended financial Ponzi Scheme, hopefully not lasting for decades.

 

Only a matter of time before the levees break and put all the hocus-pocus under. Probably a good idea to be mentally prepared for those of us who are still around when it does.

8 minutes ago, novacova said:

Only a matter of time before the levees break and put all the hocus-pocus under. Probably a good idea to be mentally prepared for those of us who are still around when it does.

To be mentally prepared is a good idea.

 

How would one prepare financially, as the next question.

13 minutes ago, swissie said:

To be mentally prepared is a good idea.

 

How would one prepare financially, as the next question.

Gold & property. But unless one is prepared mentally then it’ll probably be worthless for many. Survival is a mental game.

11 minutes ago, novacova said:

Gold. But unless one is prepared mentally then it’ll probably be worthless for many. Survival is a mental game.

Gold is always good, at least it was for the last 5000 years. For those that have it.

 

For all others: "If you have nothing, you have nothing to lose". Strictly speaking, about half of the worlds population.

 

1 hour ago, swissie said:

But now, the focus increasingly shifts toward the cost of servicing the debt. (Just interest). Some countries are nearing a "critical level".

Presumably if the empty shell of Biden won and the woke deep state were still running America, swissie would have no problem with debt, rising tide and boats. I've learned to spot irrational hatred posts a mile away.

3 minutes ago, SunnyinBangrak said:

Presumably if the empty shell of Biden won and the woke deep state were still running America, swissie would have no problem with debt, rising tide and boats. I've learned to spot irrational hatred posts a mile away.

Can you bring all this in connection to my thread?