are you prepped for a recession/depression?

[quadcam79]

Things are looking bleak on the horizon lately, stocks crashing, layoffs, dollar becoming more and more worthless.
"Global stocks plunge on US recession fears
A sell-off in global stock markets on a day when Wall Street was taking a respite, celebrating Martin Luther King Jr. Day, sent a chill through investors anticipating that Tuesday may bring a chaotic start to trading when U.S. markets reopen.

In a grim portent, futures on the Dow Jones industrial average were off by as much as 500 points. The Dow has fallen by more than 2,000 points, or about 14 percent, from its peak reached in October."

then today
"Bank of America, Wachovia profits nearly wiped out
NEW YORK (Reuters) - Bank of America Corp and Wachovia Corp, the second- and fourth-largest U.S. banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion of write-downs and credit losses.

Fourth-quarter earnings fell 95 percent at Bank of America and 98 percent at Wachovia,
Bank earnings are falling as a global credit crunch leaves more consumers unable to pay their bills, and banks with mounting losses on debt they own. Fears of a U.S. economic recession this week fueled a global sell-off in stocks and an emergency interest-rate cut by the Federal Reserve"

combine that with a large number of companies starting rounds of layoffs , rising fuel and corn prices and things are not looking good


is anyone stocking up, growing their own food? becoming more self sufficient?

thats pretty much the whole reason we bought a house on an acre in a rural area. We wanted room for chickens, gardens, solar and wind systems and anything else we can do to stop having to rely on others for things.

anyone else?

 

[buckbeak]

Yes, all goals we're working toward, once some bills are paid. We've already got the chickens, a garden, and are burning the wood stove rather than oil. We're looking at solar & wind power & are hoping for some additional government incentives, tax breaks, etc., but if they don't come in the next couple of years, we'll do it anyway. I think we're already in the recession.

 

[runamuck]

We have been working on it for the last couple yrs We have a handpump well and old fashioned wood cook stove a furnice that runs on wood ( can burn fuel oil if we choose to) Have a nice big garden and a area in our basement that we can grow veggies all yr ( as long as there is electric) our birds do alot of free ranging and I trade eggs to the local feed store for feed. Not perfect setup but its a start.
Allie

 

[justusnak]

Yep, we too are working on the self suffecient living. Chickens, turkeys, eggs and meat...garden..grapes,mulberry trees( for jellies)Elderberry bushes, a small pond..and this spring..we will be putting in more fruit trees ( have one little lonely apple tree now) and blackberry patch. TRYING to convince DH we need to raise a few pigs...he is sooo city boy, and not sure "we" can do it. We have a wood stove, and 3 acres of woods. Altho we usually get our wood from friends for free...we just have to cut it ourselves. We have a large basement for storage..and I cann as much as I can. (veggies, fruits, and jellies) My pantry is always stocked, labled(dated) with at least 8 of everything. We have cash on hand...for the " just in case" and I already barter with my eggs, at the local hardware store. We trade eggs for scrap lumber from friends, and already have enough to build another coop! Come on SPRING!! Now if I can find someone to help me put a pump in my well..and get the water tested...we will be OK!

 

[chicknmania]

You know, I always say, if we had no news media, I wonder what the economy would REALLY be like???? They pump up all the bleak news all the time til people are scared to spend a dime. I mean, I know there's lots of reasons for the poor economy, but the depressing news coverage sure doesn't help.

 

[PurpleChicken]

Wow. I disagree with the whole premise of your question. The U.S. economy
is, has, and will be the strongest and largest in the history of mankind.
Most people don't have a clue what a recession is. In our lifetimes recessions
have only been minor bumps in the road where people and corporations can
adjust their spending and efficiencies. Jobless claims came out on Friday and they
are DOWN for the month. Hmmmm. I can go on forever about the value of the
dollar.

The media loves to report bad news so that is what you hear. Did anyone really
not see the real estate bubble inflating year after year since the late 90's?
I've seen this cycle a few times already and I'm only in my 30's.

There is nothing wrong with being prepared for economic hard times, whether
personally or nationally. Solar & wind, that's for another thread.

I've learned that people, especially on the left, always talk about what a bad economy
we have. This is the "glass is always half empty group". What I don't understand
is why all you Ron Paul people are talking this way. Life is way too short to be
a pessimist.

 

[chicknmania]

And yeah, we've always had a small garden and lots of eggs...but this year I want to plant LOTS more stuff...$200.00 or so a week at the grocery store is getting old!

 

[ncgnance]

This is the most important thing you can do...TURN OFF THE NEWS!! Or Give Fox News a try. Throw away the credit cards and pay cash for what you NEED, not WANT. Live sensibly and responsibly. And learn to be self sufficient, as much as you can. Above all, don't worry..it has all been decided already. Enjoy the ride...

 

[Alleyoops25]

I agree that we are spiraling down hill right now. I watch Fox News, and I havent been to worried about it. That is until I got a free moment to think about it. The Depression didnt just swip over people in one night it was a gradual, yet rapid, falling of dominos. Once something pushes over that first domino the rest start tumbling down as well. I wish that we could get free from the oil crap. It is one of the biggest things to set this off in the first place. Are we ready for this to happen?

We arent even close, and the sad part is majority of the US citizens are dependent on these other big corps. that are going under. OUr culture has changed since the depression, and I think that if this goes and really turns into the next depresssion..........It is going to hurt a lot worse.

 

[countyroad1330]

There's a recession, but its not like it doesn't happen on a regular basis. Its a cycle, and we always come out of it just fine. I for one am seeing a positive; I'm getting married soon and its a buyer's market in housing, great time to be looking. But I agree with Purple, no need to worry, we'll never go through another Great Depression.