The crisis is far from over and the financial systems are still in a Cuban Missile Crisis situation. Nothing has really improved since 2008 - other than the different governments pumping trillions of $ into the different markets. I think the crash of 2008 is a little taste of what's to come (that's at least what I am preparing for).
What the actions of world leaders have effectively said is that we will sacrifice our economic growth in exchange for the ability to ensure that current debt can continue to be serviced.
Sacrificing economic growth compounds the problem of current debt.
What the actions of world leaders have effectively said -- loud, clear, underlined and bolded -- is that the protection of existing wealth is of paramount importance and the generation of new wealth is secondary-to-incidental.
That said, one needs to know the breadth and depth of the impact of famine vs a typhoon to know which would be worse.
4 decades of famine that negatively affects half the population may be the lesser evil compared to 1 typhoon that outright destroys half the population and thus future economic potential.
Would you care sharing what exactly are your preparations? I'm at a loss figuring what is a good way to prepare. I've moved some cash to the less troubled economies but, what else?
I don't have any debt and I don't plan to accumulate any debt. I don't live over my means and I have good savings. I am also very mobile and can live anywhere in the world since I don't own that many things and my work can be done using a computer and an internet connection. I do have some plans to own some properties, but this is only to diversify my investments.
A lot of people are living above their means or on a economy with no breathing room => I think this is a very bad strategy going forward.
Regarding my startup I am trying to build a profitable and sound business that targets the global market.
Non-cash economies would be my answer. Find business models that don't rely on consumers having access to money, unless you are providing necessities. Say said it best: when there's not enough cash available to satisfy desires, people find ways around it. If you can arrange to be that way, you can still profit.
As for investments, pick your index, close your eyes to the ups and downs and pray someone in government realizes that when people are willing to give you a negative real interest rate you should take their money and do something productive with it.
>Say said it best: when there's not enough cash available to satisfy desires, people find ways around it. If you can arrange to be that way, you can still profit.
The only way I'm able to interpret this as practical advice is "invest in the mafia". Unless you're talking about building up your personal skills - which, while good advice (if you can do something other people want then you'll never go hungry, no matter how bad the economy), doesn't really scale.
