Jeff Bezos Warns Americans to Brace for Imminent Crisis

Via Birch Gold Group

Jeff Bezos Warns Americans to Brace for Imminent Crisis

From Peter Reagan

Whether the U.S. is technically in a recession right now is getting less and less debatable by the day. (You already know my thoughts on the matter.)

Now, even some members of the billionaire class are issuing dire warnings. For example, founder of Amazon Jeff Bezos (estimated net worth $120bn) just warned us not only that a recession is likely, but told us to “batten down the hatches.”

For some context, he includes a clip of Goldman Sachs CEO David Solomon (net worth $85-$100mm) telling us there’s a “good chance we could have a recession.”

 

During an interview with CNN, Bezos was even more direct:

If you’re an individual and you’re thinking about buying a large-screen TV, maybe slow that down, keep that cash, see what happens. Same thing with a refrigerator, a new car, whatever.

If you’re surprised to hear a person whose wealth depends, to a great degree, on consumer spending tell his customers to “slow that down,” well, frankly so am I.

Bezos even told small business owners to avoid making large capital expenditures or acquisitions until the economic outlook is more settled.

Amazon’s pretty clearly following Bezos’ advice, too – just Monday, Amazon laid off 10,000 workers (the biggest workforce reduction in its history).

In a recent report, Fitch Ratings went so far as to rate the upcoming recession! According to Olu Sonola, head of the rating agency’s U.S. regional economics department:

The projected recession is quite similar to that of 1990–1991, which followed similarly rapid Fed tightening in 1989–1990.

Unfortunately, as with all forecasts (even mine!), we won’t know what’s happening until it happens. At times like these, I believe it’s prudent to prepare for the worst and hope for the best.

So how can we do that?

How to prepare your finances for the recession ahead

Let’s assume that, unlike Amazon, you can’t cut costs by laying off 10,000 workers. Bezos had advice that everyday American families can follow.

First, as discussed above, rethinking consumption. Do you really need that new television? Is now the best time to go shopping for a new car? “Slow that down,” in Bezos’ own words.

Saving money where you can seems like a good idea. Obviously, that’s not an option for everything, like we discussed Wednesday. Some types of spending aren’t exactly optional – so when prices go up, we’re forced to pay them.

Second, in the CNN interview, Bezos directly addressed one of the major hazards I see in the current financial market. He advised:

Take some risk off the table. Just a little bit of risk reduction could make the difference.

Here are three practical steps toward “a little bit of risk reduction.”

1. Build an emergency fund

Emergency funds are financial safety nets we build for ourselves. Sometimes, you just need more cash than you have readily available in the bank. Instead of paying outrageous credit card interest rates for a temporary loan, wouldn’t it be great to just rely on your own “rainy day” funds?

It’s hard to argue with an emergency fund – but how much should you set aside? The brokerage Vanguard advises:

Putting aside 3 to 6 months’ worth of expenses is a good rule of thumb, but sometimes it’s not enough. If you’re able, you might want to think about expanding your emergency savings. Don’t think you can save enough? Don’t panic. You can build up to it by stashing away smaller amounts on a regular basis, like every week or every paycheck.

By the way, I used the word “build” on purpose – like Rome, your emergency fund will not be built in a day. Think of it as a long-term investment in your own peace of mind!

2. Diversify your savings

“Don’t put all your eggs in one basket!” We’ve all heard this advice a million times.

What does that mean in practical terms?

This article tells us diversification as the best way to reduce risk, and explains a little more:

You won’t get the benefits of diversification by stuffing your portfolio full of companies in one industry or market – this can create higher risk.

Remember, to reduce company-specific risk, portfolios have to vary by company industry, size and geography.

(I would recommend considering whether or not you have inflation-resistant investments, as well…)

Since diversification is the subject of entire book-length discussions, I’ll simply move on to the next piece of actionable advice.

3. Consider “safe haven” investments

Here’s why safe havens are a good idea, in the context of economic crisis (or “systemic events”):

While such systemic events in the market are unavoidable, some investors look to buy safe-haven assets that are uncorrelated or negatively correlated to the general market during times of distress. While most assets are falling in value, safe havens either retain or increase in value.

Should you decide that safe haven assets are a good idea for you, then I’d recommend a look at the “gold standard” of safe haven assets: physical gold.

A lot of Birch Gold Group customers are people who are tired of watching the financial news, exhausted with market volatility – people who want to focus on their careers, their families and their hobbies. The things that matter. They’re looking for a “set it and forget it” approach to saving for the future.

Would diversifying with physical precious metals, real gold and silver, help you “take some risk off the table,” like Bezos advised? If so, the Birch Gold team is here to walk you through your options.

And remember: the time you spend on these decisions today might just give you the peace-of-mind you need to ignore financial markets for years in the future.

With global tensions spiking, thousands of Americans are moving their IRA or 401(k) into an IRA backed by physical gold. Now, thanks to a little-known IRS Tax Law, you can too. Learn how with a free info kit on gold from Birch Gold Group. It reveals how physical precious metals can protect your savings, and how to open a Gold IRA. Click here to get your free Info Kit on Gold.

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m
m

The whole FTX saga is looking more and more like a test-run of the US Dollar collapse.

Machinist
Machinist

You should have “seen it color”. Soon, in theaters near you.
[youtube https://www.youtube.com/watch?v=1lVlhEc–Rg&w=400&h=225%5D

tony
tony

these blithering fecal oozings from crap like bezos are not forecasts as such – they are declarations of what has been decided.

Colorado Artist
Colorado Artist

Bezos is a demon in human form.
Anything he says is from satan.
He’s a lizard person.

Colorado Artist
Colorado Artist

The pathetic CIA HASHTAG CONFIRMS IT’comment image

Aunt Acid
Aunt Acid

It’s nothing personal; strictly business.

Anthony Aaron
Anthony Aaron

The drumbeat beating ever louder in the background to all of this advice is the CBDC … which, when made programmable (100% likely), will render any and all of this advice moot, and not worth the energy it’s taking me to type this reply.

For those not paying attention in recent years, our own federal government means US serious harm — even death, if that’s what it takes to pursue the NWO agenda — and to collapse our economy entirely … putting US under the jackboot of the whole NWO/WEF agenda, with the WHO rounding out the whole thing by declaring pandemics every so often to keep folks in panic mode and compliant — and jabbed into oblivion.

Crystal ball
Crystal ball

Totally agree. What’s the point in saving cash when they plan to make cash worthless? Too many idiots complied so it’s a done deal now. They will scream when they lose their retirement accounts, bank accounts and homes but they complied with “Mandates” like stupid sheep and didn’t object to rigged elections. Stupidity has consequences.

Anonymous
Anonymous

i Could be WILDLY Wrong. ALL turns to…Whatever? Cash$ HAS inherently ‘perceived’ value. UNTIL we are trading Food For Water/Etc, AND Vice Versa?

Easily transported. ALL the ‘caught fleeing’ ALWAYS have oodles of crisp new $100 bills, Etc.

Even a Child ‘KNOWS what ‘money’ is.

AKJOHN

Who remembers this one?
And Bezos circus is on the air.

Anonymous
Anonymous

“As a person who made gazillions from a few anonymous donors, (ALL they wanted to know originally? Who was READING. and WHAT)

Bend Over. Put Your head between Your legs. And Kiss Your A…mazon Prime™ Account, While You stock up on all you can …SS Good bye!

ursel doran
ursel doran

One of the MEGA big banks had an outlook published that is worth a read.
https://www.zerohedge.com/markets/morgan-stanley-these-were-our-key-2023-outlook-debates

mark
mark

POURING FTX…

comment image

comment image

hardscrabble farmer
hardscrabble farmer

… just Monday, Amazon laid off 10,000 workers (the biggest workforce reduction in its history).

I can’t understand how one day everything is just cruising along and the next day you don’t need 10,000 employees. Was there no point in time where they could have let go four or five people and made the adjustments over time? How do you suddenly not need an entire human division in one day? It took three days at Gettysburg to lose fewer than 2/3 that number of people and they were actively trying to kill each other non-stop.

This story makes absolutely no sense whatsoever.

mark
mark

Maybe they know what is coming?

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