Initially, let’s talk about how to survive in an economic downturn.

[Greg Blain]

Hello everyone. At last the forum is open. So we currently have 29 people who have registered interest in joining our economics co-op. The idea is to perhaps work together, make constructive suggestions, and help each other out if possible in a wobbly economy. I don’t know how this forum will evolve, but evolve is what we want it to do. Initially though, it would be good to hear from anyone who has decided to join.

[Qing Luo]

Great, congratulations, Greg. Thanks for the effort. Let’s get it started.

Kind regards,

Qing

[Greg Blain]

Hello Qing. Thank you for your post. I was wondering when someone would comment. I’ll be discontinuing the co-op if the response is going to be lackluster. Of course, the intention is for people to add thoughts and suggestions. I might begin by saying that members who are located close to other members might find working together easier, but this is not necessarily so with the internet to help us. Also, I’m a big believer in self-education. I read a lot of books (mostly from the Brisbane City Council Library which is very expansive) and watch videos. I used to go to seminars and while this is a good learning and networking thing, I found it to take too much time.

[Greg Blain]

Hello all. I had a call from a member who wanted to join in the conversation, but was unsure about it all as it was a bit unknown. I agree, it is unknown to me too. I suggest give the forum a go, even if it is to ask a question. I’m sure if you want to know the answer to a quesiton, others will likely have the same question too.
Also, a good resource to help keep me informed of the financial world is a free daily (except Sunday) email from this Australian organization ‘Daily Reconing’. Here is the link to their website where you can subscribe for free https://www.dailyreckoning.com.au/

[louisr@urbanform.com.au]

Hi Greg,
Got your email today where you mentioned that you mentioned that in your daily study of economics related things, you believe that a BIG economic crisis is coming, perhaps soon. What facts do you have about this possibility. I think that you are correct because I know that here in Australia, we have another rate hike by the RBA (Reserve Bank of Australia) which I believe will cripple the economy. A lot of businesses are hemorrhaging money with all the costs going up constantly. It destroys a lot of business confidence.

[Greg Blain]

Hello Louis. Thank you for your comment. Apologies for my delay in replying. Regarding my having ‘facts’ to support the concept of an upcoming crisis, no one can tell what will happen in the future, however there are many things which seem to be coming togeter, such a the huge public and private debt burden, inflation, central banks printing money (especially in the US) seemingly at will, and business cycles (we are due according to historic cycles). I don’t use science or mathematics and I guess it is my intuition warning me. In Australia, AGAIN, we might do ok digging up our minerals and selling it to the world, but we shouldn’t rely on this. It is a good posture to take anyway, living life and business with a sense of urgency and fear of crisis, without letting it get to you mentally.

[Greg Blain]

Hello everyone. Apologies for not having posted for a while. I’m happy to respond to any comments or questions anyone might have, or if there is a direction anyone might be thinking of taking in respect of preparing for a downturn and might want some comment for me or other forum member which might help them with things. I know it can be a bit daunting but it can be good to seek a little support.

PS: If you are on the forum, please tick the “notify me” box so you can see when comments are made.

[Greg Blain]

Hello everyone. Apologies for not having posted for a while. I’m happy to respond to any comments or questions anyone might have, or if there is a direction anyone might be thinking of taking in respect of preparing for a downturn and might want some comment for me or other forum member which might help them with things. I know it can be a bit daunting but it can be good to seek a little support.

PS: If you are on the forum, please tick the “notify me” box so you can see when comments are made.

[Greg Blain]

Hello everyone. The forum seems to be a lonely place. It reminds me of how a business can be a lonely place when it is nose-diving during an economic down-turn as a result of its leaders not preparing for that down-turn. Is there anyone in the forum group that sees these posts come through. A grunt will be enough for me at this stage.

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