Too many people are willing to delude themselves into believing that things can be different this time and from what I can see, nearly all of them are running the governments of the world or are still trying to sell us stocks via CNBC.
If you want a great perspective on exactly what is going on I suggest you read books about the economic crisis of the 1930's that were written in the 1930's. I am currently reading "A Bubble That Broke the World" and it is fascinating to see the powers-that-be making the EXACT SAME MISTAKES. They throw good money after bad believing that all they need is time and things will get better, just as they have for decades and decades. The problem, of course, is that for all of those decades we have slowly been blowing the greatest financial bubble in the world and there is simply no way to stop it from deflating.
BTW, the very best investment you can make these days, assuming you're pretty much an average person, is to stockpile food and drinking water. I also suggest you make sure you can defend yourself and your loved ones, though I don't necessarily believe it will get that bad for most Americans, but better safe than sorry. Having a bit of gold and cash may come in handy but keep in mind what you will want the gold and cash for.
I am stockpiling soup and other basics. I like soup because all you need is a can opener, no water, no milk, even the heat of a stove is optional. If I never need it for an emergency (such as a breakdown of trade that causes food shortages) I can still eat it or give it away to the needy.
...and no, I am not a nut, I am a student of history. ;-)
--Fred
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