Go Down with the Ship in Style

When the Titanic was finally finished being built, it was the largest passenger steamship of its time.

It was a site to behold, having been designed to be both functional and beautiful. (The fourth smoke stack was merely an ornament to make the ship look more impressive.)

Some of the wealthiest citizens of the early 20th Century eagerly bought tickets for the maiden voyage.

Of course, we all know how that story ended. When the Titanic sank in 1915, a full 68% of the passengers were greeted by watery graves.

Incredibly, despite the urgency of the situation, some of the lifeboats were deployed even though they were half full.

Why?

Nobody Believed the Ship Could Sink!

Passengers really believed the Titanic was invincible. Even trade journals of the day had said the ship was “practically unsinkable.”

Unfortunately, it seems the same kind of disbelief is now happening in the U.S. Except this time the ship is the economy.

For months, Americans couldn’t admit the economy was in trouble. They believed the U.S. was “too big to fail.”

Then the big bankruptcies started happening. IndyMac, Lehman Brothers, Washington Mutual, etc.

Now, Citigroup may be next in line whether they get “bailed out” or not.

Nevertheless, many people continue to believe that the recovery is “just around the corner.”

My take is different:

The economy is in BIG trouble. And if you want to survive, you need to be proactive — and

Get on a Lifeboat Now

But here’s the problem:

The U.S. is the “keystone” of the world economy. If it goes down, it will bring down the rest of the world with it. So there may be no advantage to “jumping ship” and moving to another country.

Furthermore, since an economic collapse of this magnitude has never before happened in history, it’s hard to know for sure how to prepare.

Maybe you should stock up on some essentials: food, clothing, etc.

Or maybe you should sell your house, find a rental, and ride out the storm.

Or maybe you should swap your dollars for gold and silver.

Who knows.

Until we have the benefit of hindsight, it’s all speculation.

And while chances are you’ll survive this collapse with your life, your currency (U.S. or otherwise) may not be so lucky — no matter what “lifeboat” you choose to preserve it.

Which is why a better strategy seems to be to

Play with All Your Heart Until the Curtain Drops

Did you know some of the most famous people who died when the Titanic sank were the eight band members who continued to perform until the ship sank?

As people slowly realized the inevitability of their situation, some got on lifeboats; some panicked; still others became reconciled with fate and patiently awaited their deaths.

These band members were of the latter group. They calmly sat on the deck of the Titanic. And rather than “rearrange the deck chairs,” they played their songs as long as time permitted.

Of course, all eight band members died. But not without leaving their unforgettable mark on history.

In many ways, I believe one of the best strategies for surviving the coming economic storm is to merely practice your craft as best you know how — and play with all your heart — until the curtain drops.

And when the curtain rises again, you may still be standing and ready to take your bow.

-Ryan M. Healy