Predicting what's next for the economy and how to prepare - Part I

A gentleman in my network on facebook wrote me asking me what's next and how to prepare in regards to the expected economic collapse.

I wrote him this quick reply:

In terms of what's next, it can be difficult to say. There's a script being followed but always lots of openings for impov and surprises. That's the most I can say right now until I have a better handle on the situation; I've been meditating lately on scenarios and the credibility of various sources.

There are a fair number of intellectuals who have a reputable track record for economic forecasting that I pay attention to. Peter Schiff, Nouriel Roubini, Marc Faber, Nassim Nicholas Taleb, Frank Shostak, Gerald Celente, Daniel A. Arnold, et al., just to name few off the top of my head.

As for what average people should be doing to prepare, each person has to decide that for themselves. I think there's a lot of good advice out there to consider even assuming the best outcomes: developing strong CSA programs, adopting slow money principles to a self-sufficient local economic systems, and building stronger connectivity where peer-reviewed collaboration takes place.

Be free,
Ben

I'll expand upon this in the future.