Quote: (10-07-2013 11:37 AM)Thomas the Rhymer Wrote:
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?
I explained this in another thread, any talk of default is pure fear-mongering: http://www.rooshvforum.network/thread-28593-...#pid550270
As mentioned in a previous post, the only reason that the U.S. government would default is if the Obama Admin/Treasury chooses to do so. The U.S. collects roughly 10x more per month in tax revenues than we owe in interest. Would there be an immediate, massive cut in government spending (roughly 40%)? Yes. Default? No.