There's An Economic Storm Coming

... But The Inspired (And The Informed) Will Do Well

by Michael D. Hume, M.S.

It's time to pay attention to things like the economy, politics, and the way things are going in the world. If you're like me (and I know I am :), these may be things you haven't spent much time or energy on... and, frankly, don't like to think about. But there are major economic storm clouds gathering, and if you educate yourself now about how to deal with the coming storm, you could be one of the few who come out okay - or even way better than okay.

I've heard experts say that the U.S. economy is teetering on the brink of disaster. I keep asking myself, "What if they're right? What if these guys who know so much more about this than I do... what if they're right?" Scary. What if the stock market loses over seventy percent of its value, like it did in the great crash of 1929, even if it takes it longer (like weeks or months) to leak out? What if it's trading at 3000 (or less) this time next year? What if they're right: what if so much damage has already been done by our tax-and-spend bailout government that I will not live to see the Dow hit a new high? What if they're right: what if hyper-inflation devalues our currency so much that we're loading up carts full of paper money to go grocery shopping, like they did in Germany just before Hitler rose to power?

What if they're right?

For instance, consider the financial reform legislation passed by Congress and signed by President Obama a few weeks ago. If you heard all the speeches made about it, you'd get the impression that the new law would "end bailouts" and "hold Wall Street fat cats accountable." Sounds great. But Mark Calabria, the director of Financial Regulation Studies for the Cato Institute (writing in Townhall Magazine), says the law will actually result in "more financial crises rather than less." Why does this guy, who's clearly an expert on this stuff and actually read the 2,300 page bill (unlike most of the legislators who passed it), say that? Because the law doesn't include any reforms of mortgage-backers Fannie Mae and Freddie Mac, the two jokers who started the whole current mess. Because it doesn't end bailouts, but actually institutionalizes them. Because, in short, the law serves to "encourage excessive risk taking by entities backed by the government and discourage risk taking and innovation by those willing to bear the cost of their actions."

What if he's right?

And I've heard other experts describe the political and economic policies enacted by our U.S. government as nothing less than a "conspiracy against your money," which, left unchecked, will plunge us into a global depression that will make the "great" depression of the 1930s look like a mild downturn. These guys say fifty TRILLION dollars will be changing hands in the next few months or years, and the money will flow away from the traditionally-minded who sleepily trust the government and economic institutions. The beneficiaries will be the newly informed, those who've taken the time and trouble to educated themselves in preparation for the coming storm.

What if they're right?

If they're right, there won't be much left for the unprepared.

Well, I'm going to assume the worst. I'm going to assume these folks are right. I'm doing everything I can to prepare: working on my own business (I'm not counting on others to "employ" me), staying healthy (I'm not convinced I will have access to quality health care at any price in the foreseeable future), staying inspired (I'm going to need all my motivational energy when things get tough), and completely rethinking my investment strategies.

Build a shelter. Maybe it'll blow over, but it looks to me like they're right: those storm clouds you see mean that very bad weather is quickly on its way. But the good news is that you could be sitting warm and pretty before the first raindrop falls.

There's An Economic Storm Coming

By: Michael Hume

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