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Discussion Starter #1
My wife and I had a long talk in the car yesterday. We were going over some of the comments (borderline superlative) by different market analysts & economists. Even Greenspan stated this was a "once in a century crisis".

I still have no idea what to make of it. It's surreal. We have people in the media stating "according to analyst so and so, we are one step away from financial disaster. In other news Brittany got her hair done today and it's pink!"

WTF?

At any rate we got to talking about the possibility of a true 1929 style depression and just what the ramifications would be on our lives.

She said she thought it would be a good idea to sell our house. I told her that since we had 40% equity in it and a fixed interest rate that that would be one of the only things we have of real value and if we liquidated our assets and then inflation went up 500% that money would be worthless.

We ended up agreeing that we should keep the house (or trade up soon since our family is growing), and buy some gold & silver.

We also are making more strides towards self sufficiency. We already have a start with approx 4 mo worth of food & water, some (not enough) guns & ammo, 2 acres worth of non hybrid seeds, 40 gallons stabilized gasoline, dynamo radios, flashlights, etc. Hundreds of rolls of TP :) and other day to day necessities. Here is a list of the next couple of big purchases we will make towards our survival supplies with the potential of economic depression in mind:

1. Stove top style Canner & jars, lids, rings etc for it.
2. Small solar array & battery pack (enough to run a deep freeze, occasional radio or appliance).
3. Smoker, dehydrator, & vacuum packer (have dehydrator now).
4. Ham radio.
5. Finish outfitting our group with our standard weapons & ammo (SKS, Mosin, 12 ga... not too much left to do here).

What do you guys think? I'm curious to know how you see this financial crisis playing out in the short term as well as the long term. I'm sure hearing lots of "d" words on talk radio the last 2 days.

Also, if planning for a "mere" depression vs. all out SHTF anarchy is there anything you do (or prioritize) differently?

I work for a 9-1-1 center in our midsize population center, do you think my income is safe in the event of a 30's style depression?
 

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Will let you beg for food
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To answer your last question first - I think your job will be safe but in worse case situ you may get a pay cut and/or reduced hours. Something will be coming in.

My recommendation to anyone that has a mortgage is to try and scrape up addiional cash to pay it down. Second job, under the table even better. Really try and reduce costs so you can stock up, pay down, pay head etc.

A recession is when somebody else loses their job, a depression is when you lose yours. I am planning for a depression presonally. I have been stocking up and planing ahead. At this point you possibly can't have too much of anything.
 

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I think the best thing to do is work on paying off your house and avoiding all debt. I do think a depression is likely to happen someday. I don't think the recent events are it, they have just delayed the inevitable. I think the real collapse will happen when the federal reserve can't print money any more and can't reward people and companies who made bad choices. I know you hear the talk on the 24 hour news channels, but I think they tend to over hype just about anything since they need something to talk about.

As for your job, it's always hard to say. No job is 100% secure. However, I think you have a career that would be needed no matter what the economic situation is like.
 

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I agree with the paying off of debt. Have some cash put back in case you can't get to the bank for some reason.

After that, make sure your big ticket items (house and cars) are in good working order. If the value of the dollar drops, it might be a while before you can afford a new car or house. So, if you need new tires, etc, I'd get them now. Have an alternate heating source for the winter.

Canning supplies are going quickly here, mostly because harvest is upon us and people are canning their produce while it's in season. I guess if you KNOW you need one and will use it, go ahead and buy one, but you don't want to buy a bunch of stuff you aren't going to use and wind up wishing you spent that money on something you need now. (If that makes sense.)

I'm no expert, but your job is probably ok for now.
 

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Just use a 2x4
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I think they'll band-aide it as long as possible; it's more likely that we're in for a long slow slide downhill than a crash. Get ready for serious inflation.
 

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Probably the best thing to do in good times and bad is eliminate as much debt as possible. I know it's tough but paying off the mortgage and being mortgage free will help with weathering the storm. Don't forget to check on your neighbors. It is times like this that you will need to work with them the most.
 

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Discussion Starter #7
I definitely get paying off debt. Within 2-3 months we'll be debt free with the exception of our mortgage.

My question is; does it really do me any good to pay down on my mortgage if i have no hope of actually paying it off in the next couple of years?

My immediate family will all meet out at my moms place, she has 5 acres on a creek and a huge garden w/chickens. The valley is very tight and all the neighbors know each other. Bugging out is probably not the way to weather a depression though we will be working out there a lot gardening, canning, preserving meat etc...
 

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If the world is ending next month, why pay off any debt?? Why wouldn't we only buy silver and ammo??? With my luck, of course, everything would turn around as soon as I got one payment behind!lol

One thing I can add is that the people who grew up young in the depression, didn't realize it had been a depression until it was over! They never knew that they were supposed to have anything that they didn't have...
 

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I'd agree that if the world is ending next month, then I'd load up on as many supplies as possible. However, I don't think anybody can predict when or if this will happen.

If the world is ending next month, why pay off any debt?? Why wouldn't we only buy silver and ammo??? With my luck, of course, everything would turn around as soon as I got one payment behind!lol

One thing I can add is that the people who grew up young in the depression, didn't realize it had been a depression until it was over! They never knew that they were supposed to have anything that they didn't have...
 

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Have been reading the blogs from the economic geeks. They all have one thing in common, buy food and put it back.
Thank God our home is paid off, do have some credit card debt but can pay it off from cash on hand.
Will continue to buy food and fuel oil as we can.
This world wide crunch is some scary sh*t. .......Alaskan...Dennis
 

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The end is near.
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Yes, I think your job is about as safe as it's going to get. However, keep in mind that if a depression strikes you will need to be working harder and smarter, with fewer sick days off than your coworkers. You want to make absolutely certain that you are last on the list for layoffs by being noticeably more reliable and productive than everyone you work with. Your main priority during a depression is to keep your job!

Keep your home as long as you're on a fixed mortgage. And spend a little each month on silver or gold. Those PM's will rise in value substantially if we go into depression while your mortgage will not go up. Your PM's could possibly pay off your home if inflation gets bad enough, or perhaps makeup for any deficiencies between your living expenses and your pay for quite a while.

Depression vs shtf anarchy: Weapons and ammo go way up on the priority list if shtf. Other than that, you need the same supplies to get through the first stages of either scenario, IMHO.

Between now and whenever this problem hits us all, I would suggest you strive to find ways to reduce your monthly bills. Can you work towards solar power between now and then? That would reduce or eliminate your utility bill during a depression, which could help quite a lot each month. Can you start gardening now to reduce your grocery bill? Can you now obtain spare parts you're going to need for your vehicle in the future, like tires, headlight, points, oil, ect... How about extra clothes and shoes for everyone in the family. (Buy them now instead of later when they'll be more expensive.) It would be nice not to have to spend money on these things while you're trying to scrape enough together to make that mortgage payment and put food on the table. Can you find another way to get to work without filling up the car? Getting a bicycle or high MPG motorcycle now so you have it if you need it, just in case you can't afford to fill up your car, would help.

Just think in terms of how you could live on less and you'll get through just fine, I think.
 

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I hear the bagpipes
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Debt is the anti-prep. Precious metals are the good stuff, and should be viewed not as an investment, but as insurance. Your government issued “money” may be “safe”, in a sense, but what will it be worth, even if you get to keep it all? Let’s say AIG tanks. They insure the debt on a large number of institutions worldwide that have big exposure to markets that are becoming riskier by the minute. We then end up with numerous banks with no back up insurance for their bad loans. In the mean time, investors will find safer places for their investments, other than institutions and firms that may fail with no insurance. Divestment time free for all. Now add Lehman, Merrill Lynch, to AIG, Washington Mutual is rumored to be next, and this equals big panic on our dollar and economy, and the worlds economy. Metals will remain about the safest thing you can get into.
 

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Well here i sit reading your post 40 mins after being told Fri day would be our last day. Good thing I had 2 jobs. Lets see I have a 5 year worth of preps, also silver coins. Most of my co-workers are in a panic. As for me I guess I'll be flipping burgers somewhere. And I still have the Drive-in for couple more paychecks. So you see how being prepared can give you piece of mind.:cool:
 

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Facin' Long,Personal SHTF
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Quick tip about communications: I noticed you put a Ham radio on your list -- it's true that Ham radio can get out to others when cellphones can't, etc. BUT!! What none of the literature tells you (and what I had to learn by experiencing it) is that the ONLY people you will EVER get to talk to are other hams, almost all of whom are in their early 70's at least, and who NEVER talk about anything else besides the 'good old days' and bitching about their heart medications. (They don't take too kindly to a "young whippersnapper" appearing on "their" frequencies, nevermind that noone can 'own' a frequency -- sorry, almost launched into another rant there! :) )

If you actually want to communicate with the common person, get a CB. (And a linear, and a VFO.) I'm serious, don't waste your time with Ham. (Unless you're wanting to wideband that radio to get to the CB freq's, but we'll get to that another time.)
 

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Discussion Starter #18
Good point. I'll think that over. The other side of things is that there is a good chance that the only people i'll be talking to are those with some way of powering their radio's.

I'm thinking the best route may be a shortwave, linear, and CB.

Another thing i forgot to mention is that i'll be taking a beginning smithing course later this year and starting to collect the tools of the trade. There will be lots of neighbors with useless gasoline roto-tillers with whom to trade. I have no desire to milk a goat or cow every day so I'm hoping I can barter with a neighbor for a milk producing animal.
 

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Prophet
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Quick tip about communications: I noticed you put a Ham radio on your list -- it's true that Ham radio can get out to others when cellphones can't, etc. BUT!! What none of the literature tells you (and what I had to learn by experiencing it) is that the ONLY people you will EVER get to talk to are other hams, almost all of whom are in their early 70's at least, and who NEVER talk about anything else besides the 'good old days' and bitching about their heart medications. (They don't take too kindly to a "young whippersnapper" appearing on "their" frequencies, nevermind that noone can 'own' a frequency -- sorry, almost launched into another rant there! :) )

If you actually want to communicate with the common person, get a CB. (And a linear, and a VFO.) I'm serious, don't waste your time with Ham. (Unless you're wanting to wideband that radio to get to the CB freq's, but we'll get to that another time.)
Guess it all depends on the region you live in. I got into Ham over 10 years ago, and i'm FAR from 70. ;) I think i was around 20somethin when i got in.
The hams in my area are great people of mixed age and sex. I think they were more excited (in a good way)about me being on than i was!
As a matter of fact, when i expressed interest in setting up a ham repeater and base at my home, they were all very happy for me, and even offered to help me set up my tower and setup when i was ready.:)
I have met some very good people on the radio, some far better than many 'on the street'. Hamfests here are a blast! You can learn a lot from other hams, especially the older guys.
I've been 'off the air' and out of my home town for some time, and now that im back, i look foreward to getting my rig setup again. :D:

best of luck in your endeavors
peace
al
 

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If you had over 100k in the bank what would you do with it. Would you take it out and hide it. If you bought silver or gold how would you guard it. If you leave it in the bank or a safe deposit box would you be able to get it WTSHTF? If you take it out and hold it a little while real estate and land may hit rock bottom and then you could buy your dream that you couldn't afford before.
 
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