Just interested to hear what scares people the most in the current economic climate, here in Australia and over seas…
How do you stay calm with all the doom and gloom?Is it the $US going ass-up or defaulting, jobs, carbon tax, Labor government etc etc.
In my view you can stay calm by being prepared for the worst.
Robert Kiyosaki summarizes it very well in one of his recent Rich dad seminars with the 5 G's:
- Grub (Food)
- Gold
- Ground (Real estate)
- Gasoline
- Guns
None of it scares me. Frankly, I cannot see the doom and gloom many people and the media are talking about.
Considering the huge catastrophe that the GFC was/is, we are doing remarkably well. Just be glad you weren't born in sub-sahara africa.
My repayments are down, my (real) wages are up, my shares are up and I own 4 more properties than I did 2 years ago. My cash buffer is bigger too.
Dream, Plan, Act, Adapt, Learn, Love. Rinse, Repeat.
Resource depletion will be the only issue of note in the next few years.
Silver runs out first, (within 2 decades) then oil. Resource depletion will be the only high impact issue. Climate change won’t be seen as an issue at all in the future by comparison.
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