So October 17th is the day the USA will potentially default on interest payments on debt. A lot of people think it could never happen, but apparently a lot of people in Poland in late October 1939 felt that war would never happen.
As a doctor, I'm also used to approaching complex problems with 'Hope for the best, but assume the worst.'
The default, if it comes, will possibly cause another Lehman brothers-style meltdown.
My plan for dealing with a possible default:
- I'm keeping a significant amount of cash in reserve. I expect the stock market to crash following a default, so if that happens I'm going to rush in and buy stocks cheap. If the economy rebounds, I'll be a rich man.
- I'm going to build a small stockpile of essential goods this weekend so that I can survive a while should the purchasing power of my currency collapse.
Is anyone else on the forum making contingency plans for Oct 17th? Any bright ideas on how to profit/survive a potential worldwide economic shockwave?
As a doctor, I'm also used to approaching complex problems with 'Hope for the best, but assume the worst.'
The default, if it comes, will possibly cause another Lehman brothers-style meltdown.
My plan for dealing with a possible default:
- I'm keeping a significant amount of cash in reserve. I expect the stock market to crash following a default, so if that happens I'm going to rush in and buy stocks cheap. If the economy rebounds, I'll be a rich man.
- I'm going to build a small stockpile of essential goods this weekend so that I can survive a while should the purchasing power of my currency collapse.
Is anyone else on the forum making contingency plans for Oct 17th? Any bright ideas on how to profit/survive a potential worldwide economic shockwave?