To: el_gaviero who wrote (69385 ) 9/6/2006 12:48:32 PM From: bond_bubble Read Replies (3) | Respond to Thanks el_gaviero. I too have been thinking a lot about how you handle this depression. Some people have said, buy gold, short the market etc. But I think the most important thing than ANY of the above is to understand that depression is coming and be prepared. i.e be ready to work for 25% of current salary, be ready to work 50% more time than today and be ready to survive on 50% of food consumption (i,e control the urge for junk foods etc). Most importantly, be willing to take some shit at workplaces and be mentally prepared for some "shitty"/manufacturing jobs. Be ready to live with four other guys in a 2 bed room apartment, use public transportation etc. If you are mentally prepared for this worst scenario, I think, the pain will not be much and the reality might be more comfortable than your worst imaginations. Instead, people are thinking, they will invest in gold, keep rolling the gold from one currency to another, short the market (this is one of my "stupid" strategy, I know I might not be able to cash the profit, but I've that "stupid" hope that I'll get out in time) - And that they will have enough wealth to survive the depression. When you have physical gold, it could be stolen, Gold mining stocks - who knows which way they will go (gold stocks can loose value if the gold price rise less than oil/mining cost i.e profit at gold mining stocks will fall), gold ETFs is another paper money etc. The ONLY wealth generation is "preparedness". Preservation of wealth is all bonus. Let's say, you have 50K in gold, how long will it last if you dont trim your current living style significantly? 5 years?
