I've Been Hearing A Lot Lately About Another Economic Crash That Will Hit Us - Is This....

[global1]

coming from people that are doomsday sellers trying to scare us while they make a buck off their books and appearances or is there really any validity to this talk?

It seems like we've turned the corner economically and things are getting better.

Should I be worried? If so - is there anything I can do now to protect myself?

[1000words]

1. Carry no debt and streamline expenses

You'll live fairly well in just about any economic climate

[hollysmom]

5. my philosophy as well.

[seattledo]

9. Carry no debt...

is easy for the wealthy. I had to borrow money to buy my scooter and pay rent. There's no way I can live debt-free unless if I want to still be able to get to work and have a place to live. I don't think my situation is out of the ordinary.

[1000words]

10. I have zero debt. Worked my ass off and made many sacrifices to do so.

Trust me, I am far from wealthy. Still quite vulnerable in many ways, including the absolute necessity to earn a steady paycheck. Like most, losing my job would be a life crisis.

Of course, my philosophy is easier said than done. Particularly once the economy hits the skids, like it has. I saw this shit storm coming a mile away and put some things into place when others were still hoping for the best. Family and friends thought I was being odd. Your point is valid, however: There is no definitive formula to answer the question asked in the OP.

Good luck to you, friend. I hope the New Year brings you good health and prosperity.

[alcibiades_mystery]

2. Send your money to me

I'll look out for it when the crash happens.

[okaawhatever]

3. Who is the author of the doomsday predictions? I read an article earlier today that said we will

enjoy economic growth in 2014.

The International Monetary Fund expects the growth of the global economy will accelerate to 3.6 percent in 2014 from 2.9 percent in 2013. Five top economic experts offer insights on how to read trends in different regions

Developing economies will likely enjoy relatively high growth in 2014, while the United States will continue with real growth and Europe's economy will expand very slowly, says CFR's A. Michael Spence. Moody's chief economist Mark Zandi expects the United States to experience its fastest growth in a decade, driven by a reduction in fiscal austerity, a resurgent housing market, and the "superb condition of American corporate, bank, and household balance sheets."

SNIP this next section is from Mark Zandi, Chief Economist at Moody's Analytics

Supporting this optimism is the fading of fiscal austerity. Under current law—if Congress makes no substantive changes to taxes and spending—headwinds from fiscal policy will diminish rapidly. Lawmakers will again need to agree on keeping the government open and raising the Treasury debt limit, but they seem likely to do so after their earlier brinkmanship brought a negative political reaction.

It would be wonderful if Congress and the Obama administration could undertake substantive entitlement and tax reform, but this seems unlikely, and it isn't necessary in the near term to allow the economy to improve; our long-run fiscal problems will come to a head in the next decade. As long as lawmakers do no harm, which is a reasonably low bar, fiscal policy will quickly become less of a drag on growth.
http://www.cfr.org/international-finance/prospects-global-economy-2014/p32068

[pangaia]

4. The banksters and corporatists want it all.

It's just a matter of time.
Protect yourself.

[bhikkhu]

6. Buy gold, guns and a year's worth of food, and tune into RW radio for further instructions

Seriously, I live in a RW semi-rural area, and hardly a week goes by without some new doomsday prediction. The better or more stable the economy appears, the more extreme the warnings become. I've done failry well over the last 4 years expecting competent governance and planning for better times, while a number of people I know have slid toward poverty and wasted every opportunity, while listening close to that radio for their next bold move.

[djean111]

7. Oh, I get emails all the time telling me I need to be ready for America's Next Crash - and only

by buying a newsletter can I protect myself and my assets from this imminent apocalypse!!!!!
Since I cannot even afford the newsletter, I figure I'll just ride it out.
Yeah, coming cataclysm or not, just be prudent.

[dixiegrrrrl]

8. What signs are you seeing that "things are getting better"?

What signs are you seeing that things are NOT getting better?

What signs would make sense to you that things are getting better?
worse?
and who do you trust as a source?

THAT is the first preparation. Seeing reallty thru the haze of MSM bs.

Next...what you need to have around if the banks closed or limited withdrawals?
How would you pay your bills if the banks became unavailable?
could you make it for 3 months if your income stopped?

Planning for the above is a pretty sane idea, IMHO.

and yes, no debt, first of all.

Ok..so you have done all of the above and the sky has not fallen in yet.
Will you sleep better knowing you did what you could
or would you sleep worse?

[ChisolmTrailDem]

11. "Is this coming from people that are doomsday sellers trying to scare us while they make a buck

...off their books and appearances..."

Was it the last time the economy crashed? Or were those people right?

[socialist_n_TN]

12. Well answer this........

Has capitalism EVER been without economic crashes? Or periodic recessions? Of course another crash is coming. It's just a matter of time.