Daddy told me, “Son, don’t spend more than your income.” Daddy was an Austrian-school economist with a sixth grade education! He parlayed his meager education to a comfortable life as owner of two gas stations and a drug store. He died without owing a dollar and left mother comfortable for life. He had more wisdom than the Ph.Ds. that have been destroying our economy through mistakes, misjudgments, and malfeasance–especially malfeasance.

I am convinced the glory days are gone forever. America has seen her best years. For the first time in history young couples are not enjoying the standard of living their parents did. In fact, most people in North America have seen their standard of living fall. The standard of living is closely tied to the quality of life we all experience. Americans no longer lead in the standard of living. We are now fifth in the world. And going down, down, down.

However, to keep everything in perspective, it is a fact that the average American lives a life that would make the kings of Europe 300 years ago salivate with envy. Think indoor plumbing, hot showers, medical care, dental extraction, communications, transportation, lifespans, entertainment, etc. But we aren’t living 300 years ago and we have become captivated with the “good” life that will continue to drastically decline.

Americans have no confidence that Social Security will “be there” when they reach retirement age—and what may be there will be only for the neediest. They see middle class incomes going down and no jobs as secure. In my opinion, their fears, concerns, and pessimism are justified.

Our national debt is over 18 trillion dollars! That was trillion, not billion. It is difficult for us to comprehend such numbers, but let me try. If you had started, at the birth of Christ, spending a million dollars each day and faithfully spent one million dollars per day, it would take you until 2704 to spend one trillion! And our official debt is more than 18 trillion dollars! That means every U.S. taxpayer owes more than 1.1 million dollars and climbing! That is $56,000 owed by every American citizen.

As the national debt continues to swell, the economy will continue to be sluggish, the tax burden will continue to spiral, and the middle class will continue to shrink.

But here’s the “rest of the story.” We owe far more than 18 trillion because there is more than 221 trillion dollars of debt that is “off the books” according to National Public Radio! That debt consists of unfunded federal pension obligations—government employees, military, Medicare, Medicaid, and Social Security. There is no profit in detailing how we got in this deep well; we all know how we got there. The question is: how do we get out? (The first rule to follow, according to Daddy, is when you find yourself in a deep hole, stop digging.) How do we pay off our debts and get out of the hole? The answer is: painfully and slowly! Paying off the national debt will be like making payments on a dead horse.

When a person, family, business, or a nation owes more debt than can be serviced, no one will lend them more money. Of course, individuals would be in prison for fraud, but governments don’t go to prison—and not enough politicians do. But then, Illinois does have the record of governors in the pokey. Four of the last seven Illinois governors have made or are making license plates!

Governments usually do one of two things when they get into a “mess” such as we are in. They repudiate all obligations or print worthless money day and night. The first will not be done because it would result in riot, rebellion, and revolution—literally. So, to the printing presses!

Think of the reaction if retired military men, welfare recipients, and Social Security beneficiaries were told, “No more money!” They would storm Capitol Hill and the White House and might bring back the guillotine, used so efficiently (and ruthlessly) during the French revolution–but with more justification!

No, the politicians’ answer to our horrendous debt will be to run the printing presses. Then inflation and interest rates will race each other for the moon. Our national debt will be paid off with worthless dollars. You have always wanted to live in a million dollar house, and you will—the same one in which you now live. Of course, it may cost $100.00 to purchase a newspaper and there will be few newspapers available.

While pessimism is not my nature, I see a dark cloud on the horizon. Informed Americans should make plans for some very difficult years ahead.

http://bit.ly/1iMLVfY Watch these 8 minute videos of my lecture at the University of North Dakota: “A Christian Challenges New Atheists to Put Up or Shut Up!”

I used to feel like the cartoon character carrying a sign with an ominous message on front and back: “Prepare: The End is Near.” I’m not alone anymore. Famous money man, Jim Rodgers said, “Be prepared, be worried, and be careful.” He told the media, “Eventually, the whole world is going to collapse.” He declared, “This is going to end badly.” That’s what I’ve been saying, but few have listened, even those close to me have thought I had run off the rails.

In preparation for bad days ahead, I suggest that everyone develop a second profession or trade. A lawyer should learn carpet laying; a physician should learn plumbing; an accountant should learn carpentry; and a salesman should learn small engine repair. When survival is the major concern, people will not use lawyers, physicians, and accountants except in extreme situations. Everyone should have a part-time income since every job is insecure. Furthermore, everyone should plant a garden, and not only to have nutritious food to eat but to have any food to eat.

Make plans now to get out of debt personally and corporately. Churches and businesses should start debt retirement projects. If I were a pastor of a church that owned multiple acres, I would seriously consider selling a few acres to pay off the debt. I would look closely at any major expenditure. Of course, churches cannot put every expansion program on hold and not make moves that circumstances require, but I would move slowly with any building program whether for a church, a family, or a business.

Moreover, you cannot count on your pension plan being available or sufficient to replace your working income because your 401 (k) plan may end up worth $401.00 to finance your retirement! Consequently, don’t plan on retiring! Retirement is never found in the Scripture. Adam was to work to the day of his death. There is something carnal about waiting all your life until the day when you can lie around all the time, fishing, hunting, and generally playing. Of course, bad health may force you to retire.

Moreover, those under 50 are very foolish or naïve if they plan on Social Security to provide the necessary retirement income. Work is in your future, and a wise move on your part would be to plan for that now. If not, plan to be a stock “boy” at the local supermarket, greeter at Wal-Mart or item checker at Sam’s.

Regarding investments, what should prudent Americans do about a major financial and social catastrophe that is about to hit us right between the eyes? After getting out of debt, you should consider selling your stock and bonds or buying mutual funds that provide a guaranteed minimum for a premium. Take any temporary rise in prices as an opportunity to sell any stocks except possibly precious metals or energy stocks. Sell your stocks and bonds; after all, something is better than nothing.

If (when) total financial collapse comes, the cities will be madhouses, so make plans to get your family to safety—that means at least 20-30 miles from a metropolitan area. Property values are still reasonable in small towns and a wise investment might be to buy a rental where you could move to when dangerous times arrive. On the other hand, you could buy a lot on a lake or a mountainside and put a mobile home on it. You could always rent it or retire there if the future turns rosy.

We are already seeing three generations living in the same house because of lack of jobs and the difficulty in renting or buying a house. DUMPies—Destitute Unprepared Mature People will be everywhere. Few people will drive a new car and vacations will be short, or non-existent. People will once again learn to “make do” with what they have.

It would be prudent to purchase some freeze-dried food from some survival outfit and a few five-gallon cans of wheat and corn. The food you ate today traveled 1500 miles to get to your table. If “peaceful” terrorists hit delivery trucks or bridges and tunnels leading to major cities, will food and fuel be transported? You should also have many gallons of water packed away for an emergency. Most people think such suggestions are extreme, but when you face those times, you won’t think so.

Our grandparents would not have considered having empty pantries. After all, disasters do happen, don’t they? A wise person plans for all contingencies as much as is possible. If the water is not used, pour it on your garden, and eat the stored food. After all, the price of food will not go down.

If there is a financial collapse, you can count on a breakdown of law and order. Surely, there is no question about that. In event of riots, it would be wise to have a couple of guns and ammo available! What, a Christian shooting someone? Yes, in my home it will happen if necessary. If a mob kicks down my door, be assured that they will be shot. If you knock on my door asking for food, you will be fed but if you kick down my door, you will be dead! Then I will expect a commendation from the governor for doing all people in Georgia a favor!

It is very Christian to protect your family.

Copyright 2013, Don Boys, Ph.D.

http://bit.ly/1iMLVfY Videos of my lecture at the University of North Dakota, “A Christian Challenges New Atheists to Put Up or Shut Up!” Watch and pass them on!

While I am not a pessimist, I do believe you should prepare for very difficult days ahead. If you are planning on Social Security or even a corporate pension to support you, you may be standing on a bridge of mist.

I suggest that everyone develop a second profession or trade. A lawyer should learn carpet laying; a physician should learn to refinish furniture; a teacher should learn plumbing; a salesman should learn small engine repair. Moreover, everyone should plant a garden—and not only for health reasons.

Make plans now to get out of debt personally and corporately. Churches should start debt retirement projects. If I were a pastor of a church that owned multi-acres, I would seriously consider selling a few acres to pay off the debt.

Of course, churches cannot put every building program on hold and not make moves that circumstances require, but I would move slowly with any building program whether for a church or a business.

Therefore, what should prudent Americans do about a major catastrophe that is about to hit us right between the eyes? Get out of debt if possible. Sell your stock; after all, something is better than nothing. Take any temporary rise in prices as an opportunity to sell any stocks except possibly gold and silver shares. I also suggest that you get a part-time income if your job is insecure (and whose is not?), or better yet, start a sideline business.

In addition, don’t plan on retiring! Retirement is never found in the Scripture. Adam was to work to the day of his death. There is something carnal about waiting all your life until the day when you can lie around all the time, fishing, hunting, and generally playing. Of course, bad health can demand that you stop working. However, you cannot count on your pension plan being available or sufficient to replace your working income. Moreover, those under 50 are very foolish or naïve if they plan on Social Security to provide the necessary retirement income. Work is in your future, and a wise move on your part would be to plan for that now. If not, plan to be a stock “boy” at the local supermarket, greeter at Wal-Mart or item checker at Sam’s.

If (when) total financial collapse comes, the cities will be madhouses, so make plans to get your family to safety—that means at least 20-30 miles from a metropolitan area. Property values are still reasonable in small towns and a wise investment might be to buy a rental that you could move to when dangerous times arrive. On the other hand, you could buy a lot on a lake or a mountainside and put a mobile home on it. You could always rent it or retire there if the future turns rosy.

We will be going back to the days when 8 or 10 family members live in the same house because of difficulty in renting or buying a house. Older people will live with their married children and grandchildren—three generations in the same house. Dumpies—Destitute Unprepared Mature People will be everywhere. Few people will drive a new car and vacations will be short, or non-existent. People will once again learn to “make do” with what they have.

It would be prudent to purchase some freeze-dried food from some survival outfit and a few five-gallon cans of wheat and corn. The food you ate today traveled 1500 miles to get to your table. If the terrorists hit delivery trucks, bridges, and tunnels leading to major cities will food and fuel be transported? You should also have many gallons of water packed away for an emergency. Most people think such suggestions are extremist, but not so.

Our grandparents would not have considered having empty pantries. After all, disasters do happen, don’t they? A wise person plans for all contingencies as much as is possible. If the water is not used, pour it on your garden, and eat the stored food. After all, the price of food will not go down.

If there is a financial collapse, you can count on a breakdown of law and order. Surely, there is no question about that. In event of riots, it would be wise to have a couple of guns and ammo available! What, a Christian shooting someone? Yes, in my home it will happen if necessary. If a mob kicks down my door, be assured that they will be shot. Then I will expect a commendation from the governor for doing all people in Georgia a favor! It is very “Christian” to protect your family.

Rememer that one of Christ’s last commands to His Disciples was to buy a sword. Why did He say that? Because shotguns hadn’t been invented yet!

(Many more columns