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How do we prepare for the coming financial crash?

MJ DeMarco

I followed the science; all I found was money.
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Hey guys, I don't own a boat and really don't see owning one in the near future, but how should I prepare if this non-existent boat hits an iceberg and start sinking?

Why do you give a shit?

According to your intro post, you have a failing business, are 18, and in college.

Preparing for "the coming financial crash" when you don't have cash, assets, or a business is probably the dumbest use of your time and brain capacity.

Find a need. Fill that need. Make money. Then worry whether demand for your product/service will change with "a crash" once you actually have something to worry about.

Until then you're just bullshitting and getting stressed over your own misdirection.

An AMEN, followed by featured.
 
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TheDillon__

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Why do you give a shit?

According to your intro post, you have a failing business, are 18, and in college.

Preparing for "the coming financial crash" when you don't have cash, assets, or a business is probably the dumbest use of your time and brain capacity.

Find a need. Fill that need. Make money. Then worry whether demand for your product/service will change with "a crash" once you actually have something to worry about.

Until then you're just bullshitting and getting stressed over your own misdirection.
Fantastic answer - Rep+
 

masterneme

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This ^^ There are folks with ironically fastlane businesses telling others to put all their money in silver coins, build bunkers, and withdraw from civilization.

Don't get me wrong, I've always got a closet full of booze... just being responsible :clench:
Exactly, one of the "gurus" mentioned charges 5k for a weekend seminar and hundreds go to receive the same info you can get on many 9.99$ books. And about money, well, he sells the same crap all the slowlaners preach.

I know other guys involved in Internet Marketing that charge 10k a seat for a weekend seminar and they brag about how much money they make. Then you realize they would make 0$ if it wasn't for those events.

It makes me feel kinda angry because I was as ignorant as those poor bastards listening to these people. And I don't think there is anything else I hate more than wasting time.

The funny thing is that you can see the truth when they say "you become what you focus on". OP, if you focus on being prepared for the next crash you won't be on the right state of mind to make your fastlane a reality because you won't be looking for problems/needs that you can create a solution for.

MJ DeMarco said it on a video, you can't win by playing defense.
 
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Last edited:

biggeemac

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Yeah, I don't give a shit what the gurus say anymore. I lost a lot of money and time chasing gurus and their predictions and bla bla bla. I bought a house, and now, I let the state that I live in use 4 of my bedrooms. I make more on one room than most people make renting 6 houses. You have to figure out how to create something that people will pay a lot of money for, and ignore the Internet babble. How many times in history has your countries society went to complete despair? Unless something is very noticeably underway, then get to work. Good luck.
 

FastNAwesome

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It makes me think about the importance of an abundance mindset. People with an abundance mindset find a way to make something out of nothing in lean times, and make even more out of what they've got in fat times. People with a scarcity mindset have scarcity even in times of abundance.

This is so true. I've been on the both sides of this coin!

Thanks for sharing a wonderful story too, I could almost feel as if I was there.
 

GoodluckChuck

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A few years ago it was the right wing conservatives talking about the impending doom brought on by a liberal government. They were all buying tons of food and ammo and calling themselves preppers. Now that Trump is in office and Republicans are taking control of the government it's the liberals stocking up for the coming crisis.

Interesting how the zeitgeist shifts. There's always someone worried about the coming crash. Every once in a while they are right.

I keep some beans and rice in the closet with some water and a gun for self defense. Makes me feel better in case of any kind of disaster. If the power goes off or something I won't be worried about making skrilla as much as protecting my family.

Besides that I'll be looking for a way to help everyone around me, make myself valuable. Lord knows help would be needed.

Oh, and acquiring property as much as I can.
 
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jlwilliams

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A few years ago there was a news story about just how far this mindset can take someone. True story. Really happened, re told to the best of my memory.

An old man who had been living in a shack in the desert died. He died alone, in his hovel, in the desert where he had been living alone eating crap canned food and whatever small animals he could trap. When they tore down his shack they found over three million U.S. dollars worth of gold coins. That's right, he was rich. He had a net worth over $3M and it was all liquid enough that he could have done anything with it on any day he wanted to. He chose to live like a feral dog in the middle of a country that is full of opportunity, full of abundance, full of LIFE. The few people who knew him, ranchers who owned land near by, outdoorsmen who traveled in his area, said he was a quiet but friendly man who .... wait for it..... would talk about the "inevitable" economic and social Armageddon. At some point in his life he had been productive, but he let prophecies of doom chase him into retreat. He retreated to a life of insignificance in a shack in the desert.

The moral of the story is clear.

Again, I didn't make this up. This was within the last 5 years or so in the American south west.

Don't be that guy. Create something. Create anything. Make money, use the money to live a life. The best thing you can do in a good economy, a bad economy or a changing economy is to keep moving forward and STOP LISTENING to doomsday gloom Sayers.
 

PedroG

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I used to worry about this stuff because I do believe that what the U.S. is doing is not sustainable, but now I tell my wife that even in bad times there are always people that do not just fine, but they benefit greatly. We just have to make sure we're among those people. It's never true that everyone is F*cked.
 

G-Man

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An old man who had been living in a shack in the desert died. He died alone, in his hovel, in the desert where he had been living alone eating crap canned food and whatever small animals he could trap. When they tore down his shack they found over three million U.S. dollars worth of gold coins.

It sort of reminds me of MJ's analysis of the slowlane retirement plan: You put all your money in the stock market then hope that it doesn't happen to crash when you're 65. You build a shack/bunker in the wilderness, then hope that isn't the place the first nuke lands or the first infected monkey gets loose, and in the meantime your life passes you by.

Fastlane lesson: Live your life and just try to avoid H-bombs and angry primates :clench:
 
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proper

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Stop worrying about things that are out of your control.

I've stopped reading or watching daily news because of this. All of the things there are far out of my control. I was just contributing my attention, so the media can sell it to whoever bids the most.
 

Greg R

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Why do you give a shit?

According to your intro post, you have a failing business, are 18, and in college.

Preparing for "the coming financial crash" when you don't have cash, assets, or a business is probably the dumbest use of your time and brain capacity.

Find a need. Fill that need. Make money. Then worry whether demand for your product/service will change with "a crash" once you actually have something to worry about.

Until then you're just bullshitting and getting stressed over your own misdirection.

I love this answer... Makes me smile every time.
 

GMSI7D

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it looks like the crash theory ( based on patterns : 1929, 1987 crashes ) is pointing to next week : 03 22 2018 for example

we will see whether the theory applies to 2018 or not
 
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JoelM

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Too many “gurus” are now predicting the crash but they did not see the one in 2008. The only ones bettting against it have been beats for years if not decades. I think it mostly affects people who depend on the stock market and have the financial advisors running their businesses for them.
 

p0stscript

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Too many “gurus” are now predicting the crash but they did not see the one in 2008.
Yes but they have successfully predicted 18 of the last three crashes.
:innocent: :halo:
 

HappyStoic

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Yeah, I don't give a sh*t what the gurus say anymore. I lost a lot of money and time chasing gurus and their predictions and bla bla bla. I bought a house, and now, I let the state that I live in use 4 of my bedrooms. I make more on one room than most people make renting 6 houses. You have to figure out how to create something that people will pay a lot of money for, and ignore the Internet babble. How many times in history has your countries society went to complete despair? Unless something is very noticeably underway, then get to work. Good luck.
Incredible man. Well done. Congrats.

Sent from my SM-G935F using Tapatalk
 
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WJK

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I been through several recessions over the years. We are currently in the middle of one where I live here in Alaska, due to the collapse of the oil market. I've adjusted my day-to-day business practices to factor in that reality.
My general formula for surviving down-turn cycles is to live a very conservative life style -- no matter what part of the economic cycle we're experiencing. First, and foremost, is to be as debt free as possible. Coupled that discipline with a good budgeting plan, that holds down both reoccurring costs and all other living costs. It's boring, but true. My Grandma's advice is still right-on.
 

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