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Preparing for tomorrow
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WINNING...humbly
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The author nailed it. If you believe that the deflationary depression is coming, pay off debt and stay liquid(i.e. hoard cash). Even during a slow growth period, that would be very smart to do.
 

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Who is to say we are not in a depression now?
Question...

Did I hear this correctly???

That there isn't an actual quantifiable formula that indicates a "depression" in the economy?

Suggesting that the term has been arbitrarily assigned to that specific time in history.
 

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Big Member
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That there isn't an actual quantifiable formula that indicates a "depression" in the economy?

Suggesting that the term has been arbitrarily assigned to that specific time in history.
From what I can gather "depression" is defined as a very long recession. In other words it's measured in years, not quarters.

And yeah, I think we are inching towards it. We need to kick over a few more dominoes to get there (but we're not putting any back up, either).
 

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Wild Edibles Expert
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USA Today had an interesting article today on:

If a depression is on your mind, here's what to do

http://www.usatoday.com/money/perfi/columnist/waggon/2010-07-02-investing02_ST_N.htm

It is worth the read, although they suggest hedging your money with Treasuries and I'm not sure that would work in a total economic collapse. But at the same time, putting everything in gold and silver is a major risky move.
... hedging your money.... isn't the entire problem with a depressin is people don't have money to hedge?
 

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Thank you! Be without a decent income for 1 or 2 years and tell me this is a recession. I live in Michigan and might as well be in Hell.
 

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Wanderer
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What to do IF there's a depression???
Man, time for someone to wake up. We're IN a depression and we're doing all we can.
 

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Μολὼν λαβ
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Thank you! Be without a decent income for 1 or 2 years and tell me this is a recession. I live in Michigan and might as well be in Hell.
There is a Hell, MI. But you haven't seen the you're thinking of hell yet. Hell is when a few hundred thousand families stop receiving unemployment checks and the emergency food pantries run out and stay empty.

No you haven't seen hell yet and even that which I have described would only be the beginning.
 
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