Stock crash advise ridiculed

[Siglvr]

Damian McBride, special advisor to Gordon Brown (British Prime Minister from 2007-2010) and head of communications at the Treasury gave this simple 3 point advice today in response to the unease and drop in the world stock markets:

Crash advice No.1: get hard cash in a safe place now; don't assume banks & cashpoints will be open, or bank cards will work, he tweeted.

No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.

No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to."

Gets ridiculed for it. It seems to me that it would be good advise in any time. In the event everything works out great, you shrug your shoulders and get on with your life as if nothing occurred. In the event things go bad, you are looking pretty solid and can be part of the solution's instead of part of the problem .

http://www.independent.co.uk/news/u...rns-former-gordon-brown-advisor-10469509.html

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[Certaindeaf]

Damian McBride, special advisor to Gordon Brown (British Prime Minister from 2007-2010) and head of communications at the Treasury gave this simple 3 point advice today in response to the unease and drop in the world stock markets:




Gets ridiculed for it. It seems to me that it would be good advise in any time. In the event everything works out great, you shrug your shoulders and get on with your life as if nothing occurred. In the event things go bad, you are looking pretty solid and can be part of the solution's instead of part of the problem .

http://www.independent.co.uk/news/u...rns-former-gordon-brown-advisor-10469509.html

So are you saying to panic or what? on the edge a my seat

 

[OLDNEWBIE]

Good advice at any time, consider it insurance against the idiots in charge screwing up real bad.

But also hedge your bets, I bought into the crash this morning and am moving some more savings into the stock market as/if it declines further.

Those idiots in charge have a vested interest in stabilizing the markets whether through trickery or real sound economic policy.
I have enough supplies and the Stock Market looks cheap now!

Wish I had more money to gamble.

 

[erudne]

I'm satisfied with hard commodities, like hand tools, steel plates, iron rations, copper, lead and the rest

 

[Burt Gummer]

The real stock market/economic crash will come when the real PTB decide it will. Not sooner, not later.

The stock market is NOT an indication of the health of the economy, which relies on the money printing Ponzi of the private Fed. Although the stock market would never be at the level it is without the Fed pumping up its buddies on WS. Just as gold/silver would never be where they are at without the paper Ponzi those are under.

Even though I've prepared as well as a person can living in a city, I do not wish for the collapse.

My like-minded buddies are all hopping up and down excited - 'here it comes!' - the economic collapse and all that comes with it. I do NOT concur. Keep the damn fake economy Ponzi going for as long as you can my bankster friends! Most of us have been SO LUCKY to live in the paper ponzi since the 70s.

Those that trumpet 'bring it on'! have no idea what they are wishing for .... no sane person should want it in their lifetime. With the Ponzi gone, we will be on par with everyone else globally. In other words, screwed, blued and tattooed.

 

[Burt Gummer]

Oops ... I disgressed.

Should you put money in the stock market, and IRA, etc. No. Why? Because when SHTF your resources might as well be on Mars.

Like Erudne wisely stated above - the REAL things you have are all you will have, period. Anything controlled electronically - re: IRA, checking acct, etc - can and WILL be robbed from you with a few keystrokes in the coming BAIL INs and banking HOLIDAYS (holidays ... sounds so nice!)

Years ago a friend of mine refused to buy food/metals because 'someone can take those from you.'
I still laugh about that. Yes, it is very true. But what would you rather have - someone having to physically come and rob you - where you might have a chance - or just rob you via a few keystrokes remotely - not a hard call.

 

[Oathkeeper1775]

Thanks Burt, I was hoping you would chime-in.

I too am with Erunde, have a small percentage in the "hands" of others. Durable goods in possession are much-more reliable; mostly-because of the tasks they can help perform.

I cannot phathom the $1.8t purportedly lost yesterday....but I do believe that my durable goods didn't loose a dime in value.

 

[Medic!]

When it comes to prepping. I tell my friends. "Don't just stand there. Do something"!
It's a tool I would use when things get bad.

And when it comes to there 401K. I tell them. "Don't just do something. Stand there".
It's a tool to use when things stay good.

I have friends that lost hundreds of thousands of dollars pulling out of there 401's in 2009. When I made all that I lost back.
You never know what tool will save you in 20 years. Or in the next two weeks. So have many.