Stoneleigh: Yesterday we talked about why we are facing deflation and today I wanted to review and explain the suggestions we have made previously for dealing with a deflationary scenario. In short, this is the list we have run periodically since we started TAE (with one addition at the end):
1) Hold no debt (for most people this means renting)
2) Hold cash and cash equivalents (short term treasuries) under your own control
3) Don't trust the banking system, deposit insurance or no deposit insurance
4) Sell equities, real estate, most bonds, commodities, collectibles (or short if you can afford to gamble)
5) Gain some control over the necessities of your own existence if you can afford it
Peacenik finally found a clear, lucid, set of instructions and explanations on how to survive the current financial crisis. Of course the ability of anyone to get beyond point one is questionable given the fact that governments and businesses have been encouraging just the opposite for more than 20 years. Is Stoneleigh anti-American? Is Stoneleigh a commie?
