Top 5 Ways To Prepare For The Coming Economic Collapse

Think everything in your country is fine. In 2012 you only have to lean over the fence and talk to your neighbor to see the economy is a mess.

Everyone is slowly coming to the realization that Obama's economic recovery never arrived, and the bankers telling everyone the crisis is being fixed are the ones who designed the crisis in the first place.

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I will let you decide which individuals are responsible, because right now it is more important to prepare for the financial crisis 2.0 coming.

Below are some simple strategies to help you and your family survive the economic collapse coming.

1) Plan Ahead - Without a plan going forward you are doomed. You will be like most other people not ready, in a panicked state and trying to work out what to do when the collapse is here. First you must formulate a plan.

2) Pay off debts - It is important at the start of 2012 that you pay off as much debt as you can. If you have nagging car, house, or phone debts, try to pay them off as soon as you can. Most people do not realize they are under the control of the banks, and not paying your mortgage will have dire consequenses. If your debts are out of control, then consider filing for bankruptcy. However you may want to get more advice before doing so.

3) Downgrade- Instead of driving around in a brand new SUV, consider a cheaper second hand car. You can actually get an older model, for a reasonable price and the depreciation on it will not be as much as the new car you have purchased. Be sure to buy from a reputable dealer and get a warranty from them in case your car needs major repairs.

4) Start a business - Despite what you are hearing out there in the mainstream media. Be well aware that some of the very successful companies such as GM and Disney were started up in times of economic hardship. It is actually cheap to advertise your business or services right now as advertisers are losing money and their rates have plummeted. Opportunities are out there everywhere right now. People still having money, they are just more cautious where they are spending it. Look at where supply and demand is.

5) Buy gold and silver - This is a favorite among investors right now. The reason is that these commodities are always the best hedge against inflation. If you look back in history gold and silver always outperform many areas during economic downturns. There are many ways to buy gold and silver, however you will want to stay away from buying gold paper futures. Be sure you are buying bullions, or coins. Those are the best investments right now.

There is a strong chance banks will soon declare a bank holiday. If that happens they will close the doors without any notice. ATM's will not work, customers will panic so it is advisable to take out some of your money and have it sitting in cash in your safe at home. You will be glad you did this, so that you can buy food, water, gasoline and other household supplies if you run short.

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