But the DOW is almost baqck to record highs... Surely that means the Economy is going to be alright. We need a jumping out the window while on fire smilie
Rawles is rarely alarmist, so to see an alarming post was a big surprise. Slow, Steady, get ready prepping are far more typical. Obviously, serious concern.
Be ready. If you have any unfinished pre-WTSHTF shopping, then now is the time to make that trip to Costco, and to place those mail orders. I hear an echo --
And yet another warning from Mr. Rawles: http://www.survivalblog.com/2007/09/letter_re_estimate_on_the_like.html
This was the letter that was linked by JP above Letter Re: Estimate on the Likelihood of an Economic Depression or Full-Scale Collapse? Jim, I know you get a lot of mail so I'll be brief. I highly value your information and input on the current economy. I also have read your book "Patriots", and your current assessment of our economy's future terrifies me. What are the probable chances of this turning into a worse case scale as seen in your novel? Even if it is not worse case, I have no idea what a Moderate case would look like. Your wisdom would be greatly appreciated. Thank You.- William JWR Replies: In the context of America's current economic situation (namely, the implosion of the Debt Bubble), I think that the "Moderate" outcome would be a depression of the same severity and duration as the Great Depression of the 1930s. It is hard to assign percentage chances, because there are umpteen variables in play. But we are definitely now in a very volatile cycle. Don't panic, but do what you can to limit your US dollar exposure, get shed of rental properties, minimize your stock portfolio, diversify into precious metals, and be well-prepared, logistically. (Beans. bullets and Band-Aids). If you don't know exactly what supplies to lay in, then get a copy of my "Rawles Gets You Ready" preparedness course. Above all, pray hard! I had responded but hadn't checked to see if he published it. He did: http://www.survivalblog.com/selfsufficiency/ September 24th post Monday September 24 2007 Letter Re: Estimate on the Likelihood of an Economic Depression or Full-Scale Collapse? Jim, What a lot of folks don't think about is that during the last depression, almost 80% of the population was still connected to a family farm. They also knew how to can meats and vegetables and had all of the equipment to do so. It was a way of life for them. Today less than 1% is connected to a family/small farm. That is daunting. Even if some of the population knows how to can and has a small garden, How many of them have 500-600 jars, lids and rings? Got lots of Salt, a working smokehouse that doesn't attract the attention of the local toughs? The final blow to the "My-parents-survived-the-last-one-so-I can-too" crowd is that we were still on a Silver and Gold backed currency system in 1930. Dollars were still very valuable during that time, they just weren't easy to come by. After we converted to [irredeemable] toilet paper for money, with zero backing, we discovered inflation. The next depression will be a lot more like [SurvivalBlog correspondent] FerFal's stories about buckets of cash to pay for a meal in Argentina. The problem for most is that we don't even have one bucket of cash. Thanks and God Bless, - Melbo (Editor of SurvivalMonkey) Permalink « Letter Re: The Versatile Propane-Fired Turkey Deep Fryer |Main| Letter Re: Estimate on the Likelihood of an Economic Depression or Full-Scale Collapse? »
