If a 2nd Financial Crisis is looming, how are you preparing?

[Possum577]

Another thread shared a link to a Huffington Post article which shared predictions that a 2nd Financial Crisis, one that may be more serious and longer lasting than 2008, may be looming.

Certainly many supporters of Bitcoin may feel the same way.

If another financial crisis does appear on the horizon, how is everyone preparing?

It full disclosure, I'm not doing anything different than my typical saving and investing in the domestic and international securities markets. I'm not preparing for a crisis. In fact, I think the taper is what's keeping the crisis from happening...it's the methadone that's weening the US financial system off the addiction manipulating rates. Without the taper we'd be in crisis mode, with the taper the risk of crisis is controlled.

I'd love to get the education on preparation that I know the smart people of this community can provide.

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[Yakamoto]

Well, I have some precious metals (And I'm sure a decent amount of others do as well) as well as stocking up Bitcoin.

I'm avoiding stocks, since those would be the first to collapse, and probably also the hardest to fall.

I also have a garden set up, to supplement my food bill in case there is massive inflation later, and to supplement it now against all the inflation.

Other than that, nothing else. Living normally for a majority of it.

[BitDreams]

Visually inspection of cold wallets. Yep. All is well.

[Dalmar]

I would look for the weakest stocks to short to the floor. Crap like herbalife for instance.
Bear markets are just as profitable as bull markets if you are on the right side of the trade.

Society will just carry on. I'm not too worried about that.

[designfail]

If the real crisis strikes we should invest in real estate in a places like NYC, San Francisco Bay area, guns&ammo, 4x4 truck, silver coins/gold coins and 1 - 2 years food supply.

[alh]

While I don't expect the answer to be popular, Bitcoin has no role in any preparations I would make.

[twiifm]

What did you do in 2008?  Did it work out?  If it did then do the same thing.  If it didn't then do the opposite.

[polynesia]

It all depends on how stable your job is.
I have seen people with stable, government jobs go about their daily life without a care in the world. 

[Harley997]

The financial crisis was very profitable to those who were able to wait out the turbulent markets and purchased assets cheaply.

[Possum577]

What did you do in 2008?  Did it work out?  If it did then do the same thing.  If it didn't then do the opposite.

In 2008 I was buying into the market as fast and as much as I could. I was also too early in my investing/disposable income life to feel as though I was losing much with the decline.

The people posting so far (and thanks for doing so) seem to only be referring to market declines. Paper losses I can handle, I'll buy into it.

Does anyone feel the next "crisis" may leave larger cracks to the foundation of the financial markets? If so, what prepare you doing for that potential worst case?

[MickyBaloney]

Another financial crisis eh?

The one in 2008 was rough but another may be far worse...

I'd say buy PMs and BTC, and be able to be semi-self-sufficient and have your paper at the ready. Watch prices, if they go up, buy non-perishable items to try and lessen food bills. And probably have a gun or two with decent amounts of ammo, as to protect your house.

Don't quote me on that, I'm not trying to give financial advice.

[Swordsoffreedom]

Diversifying away from the stock market
Oh and considering moving the traditional holdings to commodities since no matter the economy people need to eat.
(Known as the Kraft Dinner play although that stocks going up like heck)

For the rest Bitcoin

[Possum577]

What did you do in 2008?  Did it work out?  If it did then do the same thing.  If it didn't then do the opposite.

In 2008 I was buying into the market as fast and as much as I could. I was also too early in my investing/disposable income life to feel as though I was losing much with the decline.

The people posting so far (and thanks for doing so) seem to only be referring to market declines. Paper losses I can handle, I'll buy into it.

Does anyone feel the next "crisis" may leave larger cracks to the foundation of the financial markets? If so, what preparations are you doing for that potential worst case?

[Swordsoffreedom]

What did you do in 2008?  Did it work out?  If it did then do the same thing.  If it didn't then do the opposite.

In 2008 I was buying into the market as fast and as much as I could. I was also too early in my investing/disposable income life to feel as though I was losing much with the decline.

The people posting so far (and thanks for doing so) seem to only be referring to market declines. Paper losses I can handle, I'll buy into it.

Does anyone feel the next "crisis" may leave larger cracks to the foundation of the financial markets? If so, what preparations are you doing for that potential worst case?

Ah that's good too would also buy into the market if I had longer durations knowing that the benefits outweigh the risks
Part of being a strong hand it can hurt though but most of the time it works out in the end (See FB stock)

If the next crisis leaves larger cracks it makes sense to own physical goods as they retain their value, this includes property you own and use the USA still has a lot of cheap houses that will make a large return over the next few decades, as people especially young people prefer to rent right now making it a buyers market.

Example Rentalstarter is a good example of this a real estate portfolio cemented in Bitcoin but with a fiat revenue stream.
https://bitcointalk.org/index.php?topic=215230.0
https://dl.dropboxusercontent.com/u/9427554/Public%20release%20for%20RentalStarter.pdf

(Of Course there are confiscation risks so bitcoin still wins lol) (USB key Multi sig and Portable/Convertible)

[madken7777]

It all depends on how stable your job is.
I have seen people with stable, government jobs go about their daily life without a care in the world. 

Reason why so many dislike government employees.

[glendall]

A financial collapse is all but assured.

None of the regulation that was reappealed by successive governments, culminating with Clinton and Bush, has been re-enacted.  The markets are more fragile than ever. Many '1st world' countries face bankruptcy.  The largest corporations don't pay any taxes. Unemployed will increase vastly as robots and automated terminals will replace more and more people. Banks effectively set financial rules and own government. Most countries have loans and debts that are impossible to pay.  Consumer borrowing is at all time high.  Funny money fiat is a joke, its made out of nothing -- the Federal Reserve even 'makes' 8% profit for every million bucks they print.  

I could even go on. In short, the ponzi scheme is going to collapse. There is no turning back because bankers call the shots now, and plans for more than a year in advance aren't made.

I'm preparing by investing in assets that will not be worthless, such as bitcoin and physical objects and real estate (hopefully).

Does it even make sense that the richest countries in the world face bankruptcy? Who has the money then? It's such a joke. The only reason why USD is worth as much as it does is because if a country shuns it, it gets invaded or the leaders assassinated by the CIA.  (I can give you the sources for this if you like, not just speaking out of my ass.) And every currency is pegged to the American dollar.  Which is created by a private company lending debt to itself in exchange for tax payer debt. It doesn't even make rational sense.

[Ayers]

bitcoin is here to save us from this bank atrocious mistake, investing in bitcoin is the safest thing i think, even if may look wrong for some

[arbitrage001]

Going to suggest a year supply of non-perishable food and water as well as tools to hunt and cook wild animals/fish if you don't live in the city.

[Dalmar]

Going to suggest a year supply of non-perishable food and water as well as tools to hunt and cook wild animals/fish if you don't live in the city.

Do you seriously think you will need that? Do you live in Zimbabwe or something?

Technology is far too advanced for Western countries to fall back to primitive societies. Any financial collapse will only be brief (2-3 years at most) and not much will change.

[eboard10]

In the event of another big financial crisis, you might want to hold cash so that you can buy up assets and property a few years into the recession when the prices have plummeted. Holding precious metals and bitcoins is also a good bet but I still see the prices falling over the next year or so. My plan is to hold cash and buy more PMs and Bitcoins when the prices have corrected further. When the next downturn happens, I will wait for real estate prices to fall to then buy up some property at extremely discounted prices. Banks won't be lending out any money and there will very likely be increased capital controls on bank accounts and personal assets so holding hard cash is very important.