Could your family weather a depression?

[the1much]

Quote:
if your wrong,,,not much happens,, you have "extras" for a while,,, but if people are right ,, then your "prepared",,, so its a win win, to start yesterday

 

[Shared Acres]

I don't know.

We currently have two mortgages (because noone can get credit to buy our last place) which is making things tight as is.

I'm also self employed and do more service type work, so that makes it difficult.

I know one of the large newspapers I do work for cut an article I have done every year for over 10 years because of budget cuts.

You do what you gotta I guess.

BTW, I just finished reading "The Worst Hard Time" about the dust bowl, good book!

 

[Mahonri]

Car dealerships in the Phoenix Area say that business is down 40% to 50% across the board. Service industries are down. Medical, Dental and chiropractic offices are down 25% to 30% compared to 6 months ago. Restaurants are almost empty during the week. Folks are getting layed off. Businesses are going under.

The depression, (NOT rescession) has begun.

It will be global by December.

I'm thinking of taking $50,000 and converting it to Euros and hold it in a safe deposit box for 6 to 12 months and see how I do.

Printing or "creating" 1 trillion worth of dollars will devalue our dollar greatly.

Those who have savings at present will have half the buying power in 1 to 2 years. (The norm is 10-15 years)

It all boils down to greedy folks seeking more power and more money.

All of that said, we still live in the greatest nation on earth (United States). I'm still grateful to be an American!

 

[EweSheep]

Sounds serious! What a city girl would need to do???? From what I can gather, it would be cheaper for me to to buy canned goods....not sure whats to stock up! Got a small freezer as well.

Its cheaper for me to buy canned tomato sauce than to can them....the cost is much higher than store cans.......not only the food pantries.

We are hearing more and more food pantries are running out of food alot faster than normal. Matter of two hours and had to turn away hundreds of people in our town.

What are your food pantries are like??????????

Poor folks in Galveston are worse off.....particularly the ones that will lose their homes due to the law of not rebuilding and govt will not pay. UGH UGH UGH! So much for the bail out!

 

[MamaDragon]

Quote:
Do you have a reputable reference for this? I tried to find some and was unable.
Thanks

I saw the same information on a documentary about the Mayan Calendar... how it ends after like 12, 000 years on December 21, 2012. They also discussed the same legend and time frames in most of the aboriginal (?) tribes accross the Americas and around the world. The Mayan calendar predicts this planetary alignment, and then just stops. Scientists HAVE Confirmed that this alignment WILL take place, (a smaller, similar alignment has already occured, and may be the cause of some of the weather extremes we're currently experiencing) and that the Complete Alignment will be at closest-to-a-straight line on that exact date. Twelve bodies will perfectly align, causing extreme stresses on all the planets, and since we have tidal effects from not only our own moon, but from closer planets, they are expecting an increase on geologic activity (earthquakes), changes in weather patterns, extreme fluctuations in those patterns, or reversals. Also discussed was that when this alignment does occur, our polar axis will shift, and magnetic north/south will flux for a period before settlling to a new location.

I've seen this same information on different shows on The Weather Channel, National Geographic channel, Discovery Science channel, just to name a few. I don't know how reputable you consider these sources, but I have also seen this information by some of the "hard news" correspondents doing "in depth" reporting on some of these issues.

for firther research, try also Planet Green channel, they're pretty good about having "hard science" to back up their claims.

Kathy

 

[kstaven]

Really happy we are on our own farm and have a very self sufficient set up, or at least as much as it can be. The only problem with that is people that have supplies put away could quickly become targets for those who are hungry and desperate if it ever gets bad enough.

And I do agree that no matter what the government says we are on the verge of a depression. Going further into debt to bail out failed business is little more than a short term fix.

 

[lengel]

Just got this off of the Wall Street Journal online (to which I subscribed a whopping five days ago):

"The Federal Reserve, in an attempt to prevent the crisis on Wall Street from infecting its two premier institutions, took the extraordinary measure on Sunday night of agreeing to convert investment banks Morgan Stanley and Goldman Sachs Group Inc. into traditional bank holding companies.

With the move, Wall Street as it has long been known -- a coterie of independent brokerage firms that buy and sell securities, advise clients and are less regulated than old-fashioned banks -- will cease to exist. Wall Street's two most prestigious institutions will come under the close supervision of national bank regulators, subjecting them to new capital requirements, additional oversight, and far less profitability than they have historically enjoyed."

As I understand it, this means that these institutions, the last two major investment banks, are now safe from bankruptcy. Unfortunately, if you were planning to invest late in life for retirement, you will not see the kinds of returns that we use to see Basically, now it's a "save early and let it sit" strategy. Otherwise, you're pretty much not looking at retirement.

 

[Mahonri]

Otherwise, you're pretty much not looking at retirement.

That helps the government because 4 years from now they would have run out of $ for SS anyways.

Work till you die or win the lottery or raise a kid that will take care of you until you pass on.​

 

[the1much]

heres a quick message i got from 1 of the "dudes"
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Yes... Great Depression MkII I think... only prolly bigger. They will inflate like crazy here IMO... so you could do worse than hord physical gold and silver, or physical anything that your local community needs... you need to have pricing power to keep pace with this. Food will have it, basic's like energy will. You should probably prepare for a bigger boom in oil exploration --> at least U will be in work. Spend your cash on something real that you can swap back out of later... holding cash will be a loser IMO.

Inflationary Recession/Depression is what we are facing... the former certainly, the later IMO.

Best O luck, this could get ugly... seriously in some places you might be better of with guns and ammo if the local population can't get the basic's. Not saying for sure... remember the gangster culture of the 30's, these conditions can spawn crime. We are not there yet, a couple of years and who knows?

I don't think anyone really knows here, unprecedented is the word.
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makes me pay attention.

 

[unclejoe]

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This is rather eerie. Back in Feb. I started getting the same feeling. I had to work pretty hard to convince dw to let me dig up 2200 sqf of lawn to plant our biggest garden ever. We went out and bought canning supplies and 2 dehydrators. I wish I would have planted more and next year I will.