Frank Ryan at The American Thinker brings us this article in which he gives us some practical advice about how to prepare on an individual level for the economic problems that the left and this administration have created for us.
If you are a news junkie or politically active, then you know we have serious problems as a nation due to the out of control spending of taxpayer money by government at all levels. This administration alone has run up more debt than every other administration in American history combined in just a bit more than two years. And they seem not to have noticed that the economic situation is only getting worse. The reality is that the policies of the left are what are causing the ongoing economic problems that we are seeing explode throughout the country.
In addition to continuing high unemployment and a housing sector that is still in collapse, we are also now getting the inflationary effects of debased currency that are the natural result of injecting fiat money into the banking system via the Fed and the Treasury. Classical economics as well as Austrian theory are clear about the path of currency devaluation and how it winds it’s way through the economic system. Check out Hayek and Ludwig von Mises for more information if you have not already done so.
In the meantime, Ryan provides a list of suggestions that you would do well to follow to put yourself into the best defensive position that you can. Most people will take some kind of a hit in this economic disaster, but you can do things to keep the damage to a minimum until such time as the social redistributionists are removed from the levers of power.
I have to say that in reading this list, I have already done most of what Ryan suggests, and these are all straightforward common sense ideas. The point is to put yourself into a position where you have minimized your risk and debt as much as possible while building up reserves that you may need. You may also want to think about ways to keep your expenses down as much as you can.
Spend what you have to, but remember that you will need to stretch your dollars as they become worth less. Buy food at Sam’s or some other low cost provider if you can. Buy in bulk to save money and make things yourself if possible rather than going for the processed food item. For example I now make my own bread rather than buying store bought and it saves me several dollars per loaf, and it tastes better too.
And one more bit of advice of course. Remember that these kinds of economic disasters are man made. In free markets, you don’t get this because the markets are naturally self-correcting. What we are seeing is the result of massive manipulation of the economy by people who think they know better how to run things than we do. But the results prove otherwise. If you want them to stop destroying the country, you have to vote them out in the next election.
