How to survive (and profit?) from the coming recession

E

edyang_IHB

New member
Hi,





I've been a here and there lurker of the blog for the past 2 years and have passed it on to others who I felt would benefit from the deep insight that many of you bring.





My question is simple: knowing a recession is imminent, what can the average joe do to survive these next lean years? How about potentially profit?





Reduce discretionary spending?


Pay off revolving debt?


Buy gold? And how does one go about buying gold anyway? I hear that term thrown around a lot.


Invest in put options if the market is expected to decline?


Invest in foreign currencies? Euro?





Thanks,





Ed
 
Welcome edyang ! Poke around on the other threads....we hit this topic a couple of weeks ago. Might get some insight there, but I don't remember what the topic heading was. Anyone?
 
1. Learn what money is and what fiat currency is and what fractional reserve banking is. Get knowledge.<p>

2. Pay off debt.<p>

3. www.tulving.com
 
<p>You can buy gold coins at a coin dealer's. Please don't jump in in a big way until you have a feel for what is going on.</p>

<p>A couple of gold pieces can't hurt.</p>
 
Market turbulence doesn't affect all sectors equally, some contract, some stay stable and some expand. In the future we are expecting a real estate recession, agriculture should do fine, auto will see a slowdown.



Bankrupcy will be a growth field. Time to move into bankrupcy law.
 
<p>IR/Awgee:</p>

<p>Both have mentioned "pay off debt". Is that just a general rule or due to the recession, thanks.</p>
 
I understand that selling apples and pencils on street corners was a good business the last time we faced a macro economic environment like this...
 
Wow, when did the UltraShorts begin trading on the options market!?! I looked to trade these a couple of months back and they were not listed. Talk about leverage!!
 
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