What do you REALLY think will happen.....

**lovestoread** · 02-04-2009, 06:26 PM

with our economy? Everyone seems to be saying that things will get worse before they get better, but it sure seems to be at a level that is pretty bad already.....What do you think and what more can we do for ourselves???? I have some money in savings, a small food stockpile, I'm just not sure how bad it will get.....What is your opinion on this ....are we at the bottom or still on the way down??????

**NewLeaf** · 02-04-2009, 06:42 PM

I am starting a stockpile and snowballing my debt. I am also learning to do more for myself (make my own products). We have always grown a small garden but I plan to put in some vegies where I usually put in flowers to extend the garden.

I am looking around to see where resources are too, for example I am looking for a good salvage grocery store and an apple orchard.

**sabrelvssammy** · 02-04-2009, 06:46 PM

i think we are still in alot of deep trouble and it probably will get worse before better...think about it...if things turned around tomorrow...if everyone had a job...got to keep their houses....so many are in so deep right now that they are hanging on by their fingernails...all it will take is a small personal crisis to push alot of these people on over the edge.... peoples cushions are gone...retirees savings are gone..these are the kinds of things that will take years to repair...obviously the sooner the better that we get the ball rolling...but that ball is still gonna roll 'right over some people'...but we must not forget that the crises started way before the wall street collapse...people have overspent, overextended for quite some time now....we have too much 'stuff' available to us ..more than any other time in history...and unfortunately we developed the 'gotta have it right now' mentality along with it...how long did we really think all this could continue before the 'bubble' burst..both in the economy and in our own personal lives....#$%@ has finally hit the fan as they say...

and now if only people will learn from it....doubtful probably...we didn't learn from the S&L Bust in the 80's....(and if you look at what happened there in depth it just goes to show you..that history DOES repeat itself...)....

**Pemberleyan** · 02-04-2009, 07:17 PM

Frankly, I think it might get bad enough that we look back on these days as very good ones. I think this is more of a worldwide thing. We have lost so much of our industry to China, and India is competing in many areas, including high-tech. I think we're going to see a different standard of living here in general.

**Debbie-cat** · 02-04-2009, 07:35 PM

I agree. I think it is going to get alot worse yet and these days are going to be the good ones. So many people, industries, governments, countries are overextended that it will take many years for things to begin to turn around. Stockpile, pay off debt, learn self-sufficiency skills, keep healthy and in shape and hope for the best with the *$& hits the fan.

**homesteadmamma** · 02-04-2009, 07:39 PM

I agree with everything that's been said. I think it's going to get a lot worse because this is world wide. For too long too many have been greedy from the top down and now everyone is paying for it.

Continue to build your stock pile and if in debt, pay it off. If no debt save!!

**fernykins** · 02-04-2009, 07:43 PM

Yep its only going to get worse......This is only the begining....... its a scary thing
Fern

**dcompton** · 02-04-2009, 08:16 PM

I agree and for the same reasons. Greed on an insitutional level, irresponsibility and ignorance on the individual level, and because finance and trade is so global now - everything is so interconnected. When one brick falls from the wall, other bricks follow and the more that fall, the weaker the rest of the wall. Unhappily, in the words of the old curse, we are living in "interesting times."

**joyofsix** · 02-04-2009, 08:23 PM

The way I remember it (I was a kid) the Jimmy Carter years were pretty horrible and I think that's where we're headed again.

**rasilla** · 02-04-2009, 08:24 PM

The reality is that the market and the economy has ebbs and flows. Yes, the economy is having a bit of a downturn, but really, I think it is just equalizing itself. We had a period of unsustainable growth and as the saying goes, "what goes up must come down." The same is true for our market. Yes, our unemployment rates are the highest they have been in a decade (using December information) but inflation (prices rising) is at an all-time low so those of us who are taking home paychecks are getting more goods for our money. This is a good sign! And really unemployment isn't as high as it was in the dot.com bust, it almost got to 11% then and we are still at 7%. We all survived the 90s crash and we will survive this one too...

Compare the general population's life to that of 20 years ago. We all have a better standard of living. More families have two cars, more people have dishwashers, air conditioning, TVs, phone/cell phones, satellites/computers/internet, gym memberships/sports for kids, etc. All of those things are luxuries that were held by the upper middle class/upper class until the last decade, now they are common in most middle class and even low-income households. We as a nation are by no means destitute. Who knows, a little recession might be good to help us count our blessings and help equalize the market.

**MRAHoffman** · 02-04-2009, 08:30 PM

I feel it is going to get a lot worse. If you think about it, this mess started due to banks lending money/mortgages to people they shouldn't have. So they made it possible for the economy to grow as big as it had due to lending $, giving credit cards and mortgages to anyone who would in turn go out and spend $ (that they didn't have...it was borrowed $). Now all THOSE people have lost everything as well as have created a HUGE surplus of foreclosed housing, MASSIVE unpaid debt (this is why the banks have lost MAJOR amounts of $...people aren't paying them). They say that in order to make the economy grow, credit has to flow and I understand businesses need the credit, but the banks used to lend to 5 billion people (example), now they lend to 500k and even when things get back to "normal" they will only lend to maybe 1 million, leaving 4 million people not able to borrow/spend (my question is how are they going to grow the economy to make up the 4 million shortfall...they can't not anytime soon). There are many business yet to close (I'm waiting to see which of the 3...Home Depot, Lowes or Menards stays standing, not to mention Costco OR Sams Club...Walmart or Target etc. not that I've minded, but the STRONGEST of the multiple stores will stand (i.e, Bed Bath and Beyond vs Linens and Things, BUT I still think that in time MANY of the still standing specialty stores will go under as people will no longer buy discretionary items and they will not be able to remain viable. MASSIVE amounts of HIGHLY educated people are out of work (this makes it tougher for the less educated people to get a job). Also, with increasing talks of protectionism (other countries are upset that there is talk of making a Buy American clause in the stimulus and that it would break trade rules, but how are we to get our economy to grow if no one is working as well as if WE aren't working or spending $, China and India aren't working or spending $) this brings an interesting point that with China holding much of the US debt, if we "tick them off" by putting up trade barriers, who will help us finance/support ourselves. I just feel like we are in a lose/lose situation, if we try to support jobs here, we take away jobs from other countries (not that I object), but if we DON't support jobs here, who is going to by the things that the jobs in other countries make...we are in a REAL mess and I personally feel it will be 10-20 years before we get back to normal (and normal is not how it was but, just normal). Take care and God bless.

**mombottoo** · 02-04-2009, 08:34 PM

Where I live (Michigan) has been in a recession much longer than any other part of the country...so for our state, I see us recovering before other areas...just like back in the late 70's early 80's.

I do think it is going to get worse, much worse. The best thing we can do to help ourselves is save money & don't put all of it in one place, keep some cash on hand (if your bank fails it could take awhile to get your money from the feds), stockpile food & other non-perishable items, get rid of any debt, live under your means and make do or do without when it comes to wants.

I'm not a pessimistic person but, I have noticed that my children are not able to do for their children what we did for them. To me, that is the biggest signal that something isn't going well within our country and the world at large.

**MRAHoffman** · 02-04-2009, 08:35 PM

"inflation (prices rising) is at an all-time low so those of us who are taking home paychecks are getting more goods for our money. This is a good sign!"

For the consumer, yes low prices are a good thing, but many economists are worrying about deflation. If the price of goods and services goes down then companies can't expand and grow so they don't hire people and as the times are showing, to shore up the capital in their company, they let people go.

**brennasmom** · 02-04-2009, 08:43 PM

I am in the "it's gonna get worse before it gets better" boat. I am hoping we will see some improvement in 2010.

Dh and I are doing our best to prepare. Paying off debt, saving money, and being prepared.

**Ashie06** · 02-04-2009, 09:02 PM

i agree w/everyone else and i'm terrified

i'm doing the usual....stockpile/save save save. my granny who was a child during the depression went what i thought to be, nuts, when the Y2K scare happened but looking back now, with a family of my own to support, I can see why she acted so fast and I plan to do the same.