1. Find an economist who is around from the 1970s and 80s and get him to advise us what to do. We haven’t had an economy with stagflation since then and the current economists so far don’t have a clue as to what to do.
2. Write your Congressmen and the candidates and tell them to give US $4-7000 directly to each taxpayer. Let the money trickle up to the businesses in reverse trickle up economics. Giving the billions to the banks didn’t work before and it doesn’t look like it will work now if the money isn’t getting to the people, not the businesses, that need it.
3. Stay profitable by avoiding any investment where there is too much change for the immediate future. If you are in something stable and happy, we envy you. If you are in a stock or commodity that is all over the map, you may want to park your money for a bit, at least a few months – maybe longer till we see what happens.
4. Be nice to people who can’t help themselves. I am talking about people with special needs, the elderly, your relatives who can’t take care of themselves. You don’t have to go nuts but remember that they need help and you could be worse off than you are right now.
5. Explain to your kids and anybody else who doesn’t quite understand what is going, what is going on. This may be the turning point for a lot of people in terms of waking up financially and getting their acts together and they in turn can pass these values onto their kids.
6. Hang onto cash and gold (actual gold if you have it). Cash is more than king and if you remember the cliche, “Money talks”, you will be happy to know that the cliche is wrong. Money doesn’t talk, it screams. See if you can get discounts with some merchants if you pay cash instead of credit cards. This won’t work with chain stores but maybe with some other stores or with business suppliers. Work on eliminating your debt in case interest rates start going up and to get you back to some position of financial stability if you don’t have one already.
7. Keep your house or apartment clean. Clutter may keep your house warm but you will be pleasantly surprised at how psychologically your thinking will get cleaned up if your surrounding living space is clean. It will also be easier to find important financial documents, statements, tax information or anything else that you need or are looking for.
8. Stay healthy and make sure your family and friends are healthy. Without your health, you will not be able to keep your spirits happy through the upcoming financial readjustments.
9. Ask questions about finances and keep your eyes and ears open. Don’t rely only on the internet alone for financial information. Everybody parrots everybody else and at this point in the world, nobody has the answers as to what we should do and where we are going.
10. Get a copy of my book. It will help you get and stay on track financially!
Anything else to say or add? Post a comment or drop me an email!
Good luck everybody!
Kim Isaac Greenblatt
Kim Isaac Greenblatt has ten things for you to do while the global economy works itself out.