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LBRY Claims • prepare-for-next-economic-collapse-2019

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Prepare for Next Economic Collapse 2019 | My Financial Crises Preparation
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The thought of another recession may be hard to imagine at this point. The economy has been growing for almost 10 years. Real estate values are at all-time highs and the stock market has grown since 2009.

However, the economy is cyclical and all good times eventually come to an end. In fact, in Bankrate’s latest Economic Indicator Survey, 52 percent of economists believe economic risks over the next 12 to 18 months are tilted toward the downside.

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1. Build your emergency fund
You don’t want to think about losing your job or some other unexpected emergency, but it’s essential that you prepare for it.

2. Pay off debt if you can
Now is an excellent time to review your debts.

3. Review investment risk
Review your investment portfolio to make sure it aligns with the level of risk you’re comfortable with. If you’re close to retirement, you likely don’t want to have all your money in riskier stock funds.

Think about how your investments would do if another recession happened. If you’re not comfortable seeing them drop as much as they did in 2008 and taking as long as they did to recover, you should think about a plan to get your money into safer investments over time.

Scott Minerd, Guggenheim Partners chief investment officer. The market “is on a collision course with disaster” and the catastrophe will hit in late 2019, with stocks losing 40%.

That sounds pretty dire. In the 2007-09 financial crisis, the S&P 500 lost about 50% of its value. Minerd, in a note to clients and remarks on CNBC in April, sees a spate of corporate debt defaults as interest rates rise and companies can’t meet their payments. Right now, corporate debt sits at a record $8.8 trillion. When short-term rates reach 3%, he said, the problems will begin.

Jim Rogers, founder of the Quantum Fund. “When we have a bear market, and we are going to have a bear market, it will be the worst in our lifetime.”

At 75, Rogers has seen a lot of market turmoil, including the financial crisis of 10 years ago, the dot-com debacle of 2000-02 and the 1987 crash. He told Bloomberg News in February that high debt will harm the economy.
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