Well, It's Official. We're Now In a Depression

[Loop]

Regardless of whether or not we are in a depression, what each of us must do is still the following:

1. Determine the facts (i.e., the truth), first for the economy and then for our personal lives.

2. Figure out what these facts MEAN to us as individuals for the present and future.

3. Make non-emotional decisions based on these facts. Re-think these decisions when new information comes along that change the facts.

The real dangers here are 1) getting information that is not factual (bad information) and 2) not being able to take emotions out of the equation. Both take work. The first takes research AND discretion, the second requires time AND dedicated thought- (sometimes sleeping on it as a gut check to make sure the decision is a good one).

End result: you can only make the best decisions you can based on the information you can get ahold of and the effort you put into thinking out the options available to you. After that you shouldn't feel guilty about your decisions since you have done everything in your power to make the right one - you just re-assess the situation and move on. To get stuck in the "shoulda" of hindsight is a cippling thing that a lot of people do to their harm.

Take control of the situation as much as you can by identifying the areas that you do and do not have control over, then control what you should. Hope this makes sense.


Loop.

 

[Bizzy]

I think I was a pioneer in a former life...I've always been a "plan for disaster" type...Katrina is what finally pushed me over the edge. I saw all those people sitting on their roofs or panicking at the convention center in N.O., & I said THAT WILL NEVER BE ME!!! So, I have been slowly stocking up - I have 2 huge cabinets stocked with food, plus 2 rain barrels full of water, a used minivan to get us all out of Dodge if necessary, lots of battery-powered/solar gadgets, generator, gasoline, etc. Don't have the garden yet (this crappy NC clay - aargh!) but will some day, had a huge one when I lived in VT, grew about everything you can think of.

The main point is - DON'T count on the government to help you! When the you-know-what hits the fan, we're all on our own so be prepared!

 

[Crest Acres Girl]

I'm just curious, how come alot of people are saying stuff like china taking over america etc, Does the chinese really have intention of taking over? o_o

 

[MamaDragon]

Loop - I'm not running scared/paniced/crying either. Just reporting the news as I hear it. And yes, we need to TRY to keep emotion out of the equasion, but alot of people have a LOT to LOSE.

CoffeeMama - "Yes, I'm wondering what news channel said we are 100% in a depression-probably Fox"....Actually, it was ABC Good Morning America interviewing one of the Wall Street Big-wigs. When the Wall Street traders are calling it a Global Recession and a National Depression... I don't think they'd be saying that if they could "put a good face on it".

As for the Stock Market needing to go down another 20% before it can officially BE a depression.... it IS down 22% for THE WEEK, and still dropping.

the market made a good start at it this morning..... down over 700 points in just the first seven minutes of trading. It's bounced back a small amount, but is still down over 300 points, DowJones is following suit, London is down 20% for the week, European Countries are Nationalizing banks, and the Stuff has finally Hit the Fan!

Bloomberg Financial News Channel, is calling this the worst week in the Market since the Great Depression of '29.

Could get REAL INTERESTING FOLKS

I'm personally hoping that Real Estate values will return to levels commeasurate with median income, the US will tell OPEC to kiss our collective back pocket goodbye, and interest rates normalize in both directions - decent return on investment, and credit offered at a reasonable margin rather than cut-throat & bleed-em-dry philosophy.

JLHO

Kathy

 

[MamaDragon]

Quote:
Japan, China, and the rest of the Orient own a larger percentage of our financial structure than America itself does. Should they choose to forclose on the outstanding debt we owe them, and assert their ownership in Business Real Estate Holdings, they WOULD own the country. Not Hype, facts.

Little known fact regarding Japan.... their Emperor stated at the close of WWII, you may have beat us now... but we will OWN YOUR COUNTRY in 50 years..... most people in power at the time took it as "sour grapes", but they've come Real Close to making it a reality.

China has already invested so heavily in the States, holds a Major Trade Deficit over us (we owe them the money), and more and more of our day-to-day comsumer products are manufactured in China. Don't believe me? Go look at your kids' toys, or your latest electronics.

 

[derby]

It could be argued that government intervention in the form of the New Deal actually extended a depression into The Great Depression. WWII eased us out of the Depression, not the New Deal. The economy has a cyclical nature. The upside of one market is the downside of another market. Bubbles always pop. I really don't understand why everyone is so shocked and upset. Sop up the spilled milk and look for the next opportunity. In the end - the one truth is that people, banks, companies, and governments shouldn't spend more than they make.

 

[Crest Acres Girl]

Thats pretty scary, I hope they stay nice...>_<

 

[wishin4chicken]

Hey, this country was founded on self-reliance and hard work. Let's show the rest of the world just how really great we are. I'm proud to be an American and intend to do the very best by my family, neighbors and the people in my community. That's where it all begins.

Michele.

 

[MamaDragon]

Quote:
You're right. And I don't think most of us are Shocked Or Surprised. Most of us have been expecting it for months, some of us for years now. Upset? No, just sad that our country is being run by a bunch of greedy deep-pockets, and Me-first bureaucrats.

Our Founding Fathers must be spinning in their graves.

RIP to the American Dream

 

[cheeptrick]

The unemployment rate in the great depression went as high as 26%...

September 2008 it went up slightly to 6.2%

Our elections are causing the global market fluctuations.

Many of our industries once owned by american's are now owned by foreign countries...

GM is owned by Germany etc...there has been a BIG buyout for years going on. Some say NYC is completely owned by the Chinese...

Here is a good blog
http://www.becker-posner-blog.com/archives/2005/08/chinese_ownersh_2.html

My head hurts...thinking about all this. Some believe allowing the foreign countries to aquire our companies helps our economy. But I'm skeptical...

I have been trying to AVOID those stores that sell imported goods...it is almost impossible though because our market is flooded with their products!!


BUY American!!