Preparing for the worst

Discussion in 'Economy' started by Avatar4321, Aug 25, 2010.

  1. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Does anyone have plans for what to do if the economy gets rougher? What are your plans?
     
  2. uscitizen
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    uscitizen Senior Member

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    Umm I did that a few years ago.
    Liquidated all my stock at a good profit.
    bought gold eagles at a good price.
    Started raising much of my own food.
    Paid off my mortgage.

    Advice to average person avoid all the debt you can and pay off all the debt you can.
    Start raising your own food if possible and can/freeze it.
    Work out barter systems with neighbors. Veggies for eggs, etc.
    I trade Beef for pork and eggs and chickens. Cleaned chickens, I hate cleaning chickens.
    or labor for foodstuffs.
     
  3. 2Parties
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    2Parties Senior Member

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    Not really. My parents have some preps but they are hundreds of miles away. I've been trying to get away from preparing/thinking for the worst because it overtakes your life and how you think. I'm honestly not worried about it. Worst that could happen is Mad Max and I die. I can live with that until that happens. If I have a lot of stuff saved up odds are I'll either be a target, or someone who isn't sharing with people. Either case is no good. I can understand prepping a little bit if you have kids and a wife to look out for.

    I strive though I fall short of Matthew 6: 25-34

    25 “Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. Is not life more than food, and the body more than clothing? 26 Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they? 27 And which of you by being anxious can add a single hour to his span of life? [1] 28 And why are you anxious about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin, 29 yet I tell you, even Solomon in all his glory was not arrayed like one of these. 30 But if God so clothes the grass of the field, which today is alive and tomorrow is thrown into the oven, will he not much more clothe you, O you of little faith? 31 Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For the Gentiles seek after all these things, and your heavenly Father knows that you need them all. 33 But seek first the kingdom of God and his righteousness, and all these things will be added to you.

    34 “Therefore do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble.
     
  4. iamwhatiseem
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    iamwhatiseem Gold Member

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    In reality, I have always been "prepared".

    I have no credit card debt, haven't had in a good 15 years.
    I have no car payments.
    Even after my home loss at least 25% of its value - I still have a lot of equity.

    When the interest rates dove down 7 years ago or so - I refinanced, but was I a dumbass and put my auto loans on a new mortgage? - or took out an extra $10,000 or whatever?
    No - I increased my house payment by a little over $80 a month - but I cut 10 YEARS OFF THE LOAN.
    You see, I understand that what you can afford to borrow has a lot less to do with what the monthly payment is, but rather the expense of borrowing the principle.

    If you are worried about preparing for a worsening economy - you shouldn't have to. Living within your means, means preparing for lean times.
     
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  5. California Girl
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    California Girl BANNED

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    We're good, thanks.
     
  6. The Rabbi
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    The Rabbi Diamond Member

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    I doubt it will get much worse. My hope isn't based on anything the adminsitration is going to do but rather on the idea that with the Dums getting shellacked in November the administration will find itself unable to pass anything more destructive.
    Eventually businesses will find a way to negotiate around the mess the Democrats have left and/or some of it will be rolled back. This will increase business confidence enough to let the economy grow.
     
  7. Zoom-boing
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    Zoom-boing Gold Member

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    We moved into our current house ten years ago. It's new construction, new neighborhood. Our one neighbor borrowed an extra $3,000 on his mortgage so he would have money to build a deck, which he did . . five years later. So he's paying and extra $3,000 over thirty years for a damn deck that won't be here in ten years. Is common sense dead? He was a stupid ass watering the trees that the builders put in too. Stingy with the water (he's a cheapskate) so of course, they died. He was like 'meh, they're free, who cares'. Free? Does he really think those trees weren't figured into the price of the house? So he gets to pay for trees he doesn't even have . . . . for thirty years. Plus he replaced the ones that died. Gaaaah, people are idiots.
     
  8. midcan5
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    midcan5 liberal / progressive

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    WTF I've used this word several times lately, I feel I could use it every day: ahistorical. Worse! Worse than what? Sickness and early death? Mass poverty? Starvation? Illegal wars? Has everyone online been born yesterday and all their knowledge comes from Glenn and Sarah?

    Read a bit of history, if you think this is bad you are one spoiled person. Read about the Dark Ages, the Great Depression, look only at third world nations. We have it so good, and yet the human complains. Sure do boggle my mind.

    Start with Jensen, he may wake you up from your narcissistic stupor.

    [ame=http://www.amazon.com/Culture-Make-Believe-Derrick-Jensen/dp/1931498571/ref=sr_1_8?ie=UTF8]Amazon.com: The Culture of Make Believe (9781931498579): Derrick Jensen: Books[/ame]


    [ame=http://www.amazon.com/Culture-Narcissism-American-Diminishing-Expectations/dp/0393307387/ref=sr_1_1?ie=UTF8]Amazon.com: The Culture of Narcissism: American Life in an Age of…[/ame]


    PS you can find yourself here: [ame]http://www.amazon.com/Culture-Contentment-Penguin-economics-Galbraith/dp/0140173668/ref=ntt_at_ep_dpi_2[/ame]



    WTFH

    In the mid fifties, "generosity was voted the most conspicuous American characteristic, followed by friendliness, understanding, piety, love of freedom, and progressivism. The American faults listed were petty: shallowness, egotism, extravagance, preoccupation with money, and selfishness." William Manchester quoting from George Gallup's Institute of public opinion
     
    Last edited: Aug 27, 2010
  9. Pepe
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    Pepe Senior Member

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    The one theme that runs through this subject on every Board/Forum is to get out of Debt.

    When you can only get <1% on Savings Accounts and possibly 2% on CDs and your paying 20% on your Credit Cards, it's a no brainer.

    Have a mortgage you can afford.

    Start a garden. Even a small one.

    It takes 3-5 years to build up good soil and get the hang of what's actually involved in growing, canning and freezing produce.

    Have a 22 with a thousand rounds. A good rifle either 7.62 or 5.56. Have one good handgun with sufficient ammo for all.

    Have a couple of cane poles for fishing. Worms are free.

    Live among your own tribe. Get to know your neighbors. Have a cookout.

    Most folks can't afford gold and I personally like silver. Buy modest amounts when you can and take possession. Do NOT put gold and silver in a safe deposit box.

    Uncle Sam will once again come for your gold vis a vis FDR.

    Good luck.
     

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