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    Surviving A Financial Crisis
    Surviving A Financial Crisis
    Surviving A Financial Crisis
    Ebook89 pages54 minutes

    Surviving A Financial Crisis

    By Harry Jay

    ()

    Read preview

    About this ebook

    Survival Planning - Surviving A Financial Crisis is all
    about survival preparation, survival information, food
    for emergency preparedness, supplies for disaster,
    emergency supplies food, emergency disaster supplies,
    disaster preparedness kit, and earthquake kits. But
    more importantly, it is learning how to survive a
    financial crisis. It is smart reading and a must
    read for all family members. It is smart because it
    is part of a series called “Be Prepared to Survive”
    and in this series we hope for the best but plan for
    the worst. Science tells us that only the strong
    survive. I’m telling you that only the best prepared
    will survive. Yes, the world economy sucks and it is
    tough out there but this book will set you on the right
    path to sound financial planning. This book provides
    sound financial guidance even if financial disaster
    doesn’t strike and this author believes it won’t.
    But things will continue to get tougher for at
    least the next 4-years.

    LanguageEnglish
    PublisherDr. Leland Benton
    Release dateFeb 20, 2015
    ISBN9781310420924
    Surviving A Financial Crisis
    Author

    Harry Jay

    Dr. Harry Jay is Director of Research for AppliedMindSciences.com, a mental health and mind research group of Applied Web Info, and is the author of over 100 books and research papers as a behavioral scientist. In his 31-year career, Dr. Harry Jay has contributed many new mental health treatment treatments and protocols using some of the new advances he has discovered in Energy Psychology. He specializes in addictions of all kinds, sexual abuse, child predation and gender relationships. He is also a board member to ePubWealth.com and serves on the science committee assisting non-fiction science writers in book publishing and promotion. As a leading behavioral scientist, he provides profiling services to the company's ForensicsNation.com unit as well as criminal psychology research to aid in identifying and apprehending child predators and cyber-criminals of all kinds. He resides in Southern Utah and enjoys the outdoors, fishing and photography.

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      Book preview

      Surviving A Financial Crisis - Harry Jay

      Introduction – Fix the problem and not the blame!

      Be prepared to survive any crisis let alone a financial crisis. In this series I will discuss extensively surviving a financial crisis.

      SurvivalNations is all about surviving a disaster or crisis…DUH! 

      http://survivalnations.com/

      We define a disaster as any calamity or havoc caused by nature. A crisis is something that is man-made. These are quite simple definitions but I think you get my point.

      I going to pay some strong attention to detail in describing what have caused our latest economic downturn and then get into how to prepare to survive it in equal detail too. Once again, my goal is not to frighten anybody but to realistically confront the situation head-on in order to prepare to weather this current storm.

      From the beginning…

      The late-2000s financial crisis (often called the Credit Crunch or the Global Financial Crisis) is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.[1] It resulted in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market had also suffered, resulting in numerous evictions, foreclosures and prolonged vacancies. It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, and a significant decline in economic activity, leading to a severe global economic recession in 2008.

      The financial crisis was triggered by a liquidity shortfall in the United States banking system in 2008. The collapse of the U.S. housing bubble, which peaked in 2007, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. Questions regarding bank solvency, declines in credit availability and damaged investor confidence had an impact on global stock markets, where securities suffered large losses during 2008 and early 2009. Economies worldwide slowed during this period, as credit tightened and international trade declined. Governments and central banks responded with unprecedented fiscal stimulus, monetary policy expansion and institutional bailouts. Although there have been aftershocks, the financial crisis itself ended sometime between late-2008 and mid-2009.

      While many causes for the financial crisis have been suggested, with varying weight assigned by experts, the United States Senate issuing the Levin–Coburn Report found that the crisis was not a natural disaster, but the result of high risk, complex financial products; undisclosed conflicts of interest; and the failure of regulators, the credit rating agencies, and the market itself to rein in the excesses of Wall Street. Critics argued that credit rating agencies and investors failed to accurately price the risk involved with mortgage-related financial products, and that governments did not adjust their regulatory practices to address 21st-century financial markets. The 1999 repeal of the Glass–Steagall Act of 1933 effectively removed the separation that previously existed between Wall Street investment banks and depository banks. In response to the financial crisis, both market-based and regulatory solutions have been implemented or are under consideration.

      The immediate cause or trigger of the crisis was the bursting of the United States housing bubble which peaked in approximately 2005–2006. Already-rising default rates on subprime and adjustable rate mortgages (ARM) began to increase quickly thereafter. As banks began to give out more loans to potential home owners, housing prices began to rise. In the optimistic terms, banks would encourage home owners to take on considerably high loans in the belief they would be able to pay them back more quickly overlooking the interest rates. Once the interest rates began to rise in mid 2007, housing prices dropped significantly. In many states, like California, refinancing became increasingly difficult. As a result, the number of foreclosed homes also began to rise.

      Share in GDP of U.S. financial sector since 1860

      Steadily decreasing interest rates backed by the U.S Federal Reserve from 1982 onward and large inflows of foreign funds created easy credit conditions for a number of years prior to the crisis, fueling a housing construction boom and encouraging debt-financed consumption. The combination of easy credit and money inflow contributed to the United States housing bubble. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain and consumers assumed an unprecedented debt load. As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly

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