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Recession

 
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8824
Ladies Man
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Joined: 29 Jul 2004
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City: Wilmington, Delaware

PostPosted: Nov 06, 2006 1:43 pm    Post subject: Recession Reply with quote

So, do you think we could be very close to another recession right now?

What if another Katrina hit today? Could we handle the economics associated with it today without falling deep and fast into a recession?

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booby bunny
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Joined: 02 Nov 2006
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City: duck central

PostPosted: Nov 07, 2006 1:44 pm    Post subject: Reply with quote

Well, up here in Oregon, the mills are laying off people, there is more "stock" sitting around the mills.

The only reason we will not have a severe recession is that the banks can not have everyone defauting.

But then what do I know.

My step dad is an economist... he has been begging us to stop spending for the last year... we finally did, and are paying EVERYTHING off....
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chavez
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Joined: 22 Sep 2003
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City: Roseville

PostPosted: Nov 07, 2006 2:09 pm    Post subject: Reply with quote

booby bunny, I agree with your stepdad, but not because I think the economy is going into the crapper. I don't agree or disagree with his views on the economy.

- It is just a good and sound idea, period. -

As soon as the wifey is done with school things are getting paid off - and in a hurry.


My field is secure for a long while thanks to the baby boomers - first set of them turn 65 in 2010 and continuously thereafter through 2030. Mr. Green

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RIP MHL 04/25/1958 - 01/11/2006
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8824
Ladies Man
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Joined: 29 Jul 2004
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City: Wilmington, Delaware

PostPosted: Nov 08, 2006 10:23 am    Post subject: Reply with quote

booby bunny, chavez,

Other than my house with a fixed 30yr I have no debt thank goodness.

I talked with a very well known economist the other day. He was at a national covention put on by one of the top research firms in the country, the opinion was that one major strain like a Katrina can cause severe economic issues for us.

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chavez
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PostPosted: Nov 08, 2006 10:39 am    Post subject: Reply with quote

muckmeister, I agree with him. I can't wait to be done with the 1 income lifestyle and get to a significant positive cash flow situation with no leverage rather than just a moderate positive cash flow situation with leverage.
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booby bunny
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Joined: 02 Nov 2006
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PostPosted: Nov 14, 2006 10:09 am    Post subject: Reply with quote

I agree as well, my big fear is that we are already headed there. In fact, we are trying to sell the hybrid, so that we can take the equity and sock it away. My husband will ride his bike to work, and I will take the truck...

We have dropped everything down to basic.. smaller garbage can, slower DSL, Dish. The food budget has gotten smaller, I was spending over 800 a month on groceries for a family of five. That is now down to 500.00. The only thing we have not dropped is the cell phones... they are too good a deal, 2K minutes for 10 bucks a month. (kip works for qwest)
I canned a bunch of food this summer... not that I am building a bunker, I just had too many tomatoes, peppers, apples, raspberries and the like. I hate to see good food rot.
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smokedog2
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Joined: 02 Dec 2004
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City: Cincinnati

PostPosted: Nov 14, 2006 6:54 pm    Post subject: Reply with quote

worry worry worry

I'm there. Now what?

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arof
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PostPosted: Nov 26, 2006 9:37 pm    Post subject: Reply with quote

I've got 16K of student debt, and not a penny to my name. I think I can handle a recession though.

Actually, not too worried. Even when I'm done school, the only thing I'll go in debt for is a house, and then maybe a car ...

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mechb
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Joined: 05 May 2008
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City: San Luis Obispo

PostPosted: May 06, 2008 8:41 am    Post subject: Reply with quote

There's nothing I'd do in a recession that I don't already do. If spending smart only comes in handy in times of recession, you aren't spending very smart.

In my lines of work we tend to become busier as the rest of the economy slumps.

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oshensurfer
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PostPosted: May 06, 2008 9:51 am    Post subject: Reply with quote

According to the Fed, there's not a recession.

http://www.breitbart.com/article.php?id=D90C9CPG0&show_article=1


Not to say, it couldn't get there, but it's not right now. IMO, there are only a few markets around the country that are skewing the media and the perception of the public.

Here in TX, our economy is strong and growing.

Worrying or being fearful about a poor economy, isn't going to help you or anyone else. Preparing properly and having good, sound financial rules to live by will.

Being a worry wart or living your life scared, is just going to make your life and you feel worse.

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pet575
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Joined: 20 Jun 2006
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PostPosted: May 06, 2008 11:10 am    Post subject: Reply with quote

Keeping lots of non-perishables, guns, and ammo is also a good idea.

And a 500 gallon underground tank of stabilized gasoline.

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oshensurfer
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PostPosted: May 06, 2008 11:14 am    Post subject: Reply with quote

...and don't forget to build that nuke shelter to protect you from the Ruskies! RED DAWN FTMFW!
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