Ok, well I will keep my two month food supply and still buy more ammo. As Long as I have my job I will stay in the city anyway. Personally I am not running out and stocking up on food. I just buy $100.00 worth of stores every payday if I can... That means if nothing else comes up to suck that extra $100.00 away.

Best case.... I have some food for the church just before the expiriation dates on my supplies... I am still dumping the PS3. Its a giant time waster and I can use the exercise. It is amazing how many offers I got on that thing already... One guy is offering $350.00 which is $50.00 over my asking price if I sell it to him... Crazy people...

IMO, the only metal to invest in comes in a box called Bullets.

It really all depends on how bad it is. If we're talking about total collapse, Weimar Republic style then yes, bullets will be my precious metal of choice. They will be worth their weight in gold. The only things worth anything will be face to face barter items like medicine, food and well, bullets.

I don't think there will be a total collapse as the fed will probably step in and disallow you to draw your money from your bank to keep them from imploding. This itself is bad but it might stave off annihilation of our entire way of life.

The fact is, there is little anyone can do at this point, the dyes have long since been cast and few are prepared to take the drastic last years steps that would be required in order to be the exceptions.

It is the Karma of all to reap what you sow.

Originally posted by DwnitsDwn
We'll know i guess by the end of the year what all that education and theory is worth, I sure hope your right, but I do know that no matter how this depression we are currently in may be downplayed by terminologies, it is indeed a depression, and not even a recession anymore. Grab you a dictionary and show me how I'm wrong, and I'll grab a neighbor and show you I'm right

There is no depression. The US economy has just entered a recession, it's impossible and illogically to suggest it is a depression.

As I said before the housing market might be depressed, but the US economy is far from it.

Depressions leads to the creation of a large welfare state because citizens become dependent on the government.

Government income declines because revenue from taxes dry up. Shops and businesses decline, even close, on a massive scale due to no consumer confidence or spending. Sectors decline as a result of the costs/slowdown in production and employment, economy shrinks because of negative growth.

Inflation could rapidly increase leading to stagflation or even hyperinflation (Germany 1930s), or the opposite and result in deflation (Japan 1990s).

This is currently not happening

Originally posted by infinite
This is currently not happening

Where do you live? I'm in the USA.

[edit on 17-3-2008 by DwnitsDwn]

Originally posted by Quantum_Squirrel
ok .. when this group of elitist have destroyed the U.S.A what then ? why destroy your base of operations? if thier capitalists then they want western society surely , rather than communism or even a heavily religous government being the dominant force on the planet?.

They will strip everyone of everything..that catostrophic? so people basically beg for help and except any situation of rule?

Exactly Quantum_Squirrel,this is about thining out the golbal population imagine a plot to reduce the world's population by 80% that's what they are aiming for.Total domination of the people and resources of the planet.

My relatives Canada have been saying the US was headed for a recession for the last 18 months. My CDn $$ have gone up by 15%!
For some reason the Candaian's have been well aware of this econnomic dowslide...yet Bush day in and day out says "No recession...things aren't rosy but we are OK."
ppfft

Sounds a whole lot like
"Move along folks...nothing to see here, move along."

I live in California. Here Gas has risen dramatically to $3.59 this week.
Most food products are steadily climbing in price as well as utilities.

When taxes (local and federal) rise, becuase they need the money, then things will get tighter. All the extra gas money we pay are being taken from other purchases, so less is bought or put off longer. Low consumer confidence and a weak set of presidential candidates lowers our overall confidence. California has been hit hard by the foreclosure crisis. Large area or low income areas are badly hit and there are no buyers. Most homes are over priced here anyway. This will correct the trend of home ownership to anyone, which is wrong at it's core. It removes the emphasis to strive to improve.

We are not in a recession yet, by what I am feeling. Yes, it more costly to live and I have to cut deeper, but not painfully deep. If another bank fails, then I beleive we will see global meltdowns and a recession that is painful for everyone. If interest rates drop, I'll take it, but inflation will be a bear. If I can keep my job, I'll be OK.

If a depression hits, I'll dig up my backyard for a garden and buy a weapon. Better safe than sorry.

Wall St does not Fear Great Big Depression, Wall St, welcomes Great Big Depression, because....Great Big Depression is invented by Wall St, so that they can legally Loot during the Great Big Depression, when only they have the Invisible Money to purchase Anything for Nothing.

From the OP:

Mr Taylor added that the problems unraveling at Bear Stearns are just the beginning: "There will be more banks and hedge funds heading for collapse."

Originally posted by eagledriver
If a depression hits, I'll dig up my backyard for a garden and buy a weapon. Better safe than sorry.

Eagledriver,

Better you buy a little at a time. I spend about $100.00 every two weeks if I can. Sometimes less but my pantry is pretty darn full. You would be surprised what you can buy for $100.00 at a Save A Lot. In a couple of months I will have a nice littel barter store going. My next mission is to shore up on some ammo and then work on the thyroid prescription my wife needs... I need to research that actually to look at alternatives just incase... Anyone know of any?

One thing that most of us on this board may learn (if you already haven't) is how to live a more frugal life and be happy. I'm not even thinking about a new TV, computer or any big ticket items anymore. Necessities are where its at and being warm at night is really enough for me right now. Having a job is really a huge plus as well!

I was thinking about that this afternoon as I nudged the heat up for the wife. I kind of chuckled at my doom and gloom attitude. I realized I have to be happy for what I have at the moment. Prepare a little at a time but be happy for the moment of peace you have I guess.

All these economic doublespeak terms such as downturns, hyperinflation, deflation, etc. are euphemisms for the much harsher terms like recession, depression, and collapse.

The miltary likes to use euphemisms too like collateral damage. It sounds like someone had a car accident, but it really means a lot of innocent civilians and their property were destroyed.

Any person or country that thinks they will be left unscathed, is just deluding themselves. The World economy is like a big house of cards, and when you pull out one of the main supports, it all comes tumbling down.

After today's market performance in the US, I have absolutely NO faith in the stock market's ability to accurately reflect the state of the economy. There was absolutely no reason for the Dow to finish higher than it's last close...It only happened because of wishful thinking.

Traders treat the stock market like it's some Hollywood movie, its down for the count for the first 3/4ths of the story, and then it rallies and wins in the end...That's what happened today. But this is not a movie.

The media here spins it as a victory, a triumph over the worries of last week. But it was just wishful thinking by investors and hedge fund traders. All the while, the dollar keeps decreasing in value, and gold keeps going up slowly. Most people here don't even realize it. They think the US dollar is bulletproof.

Today I bought $1000 USD worth of Euros (a paltry 652 Euros), and I bought ten shares of GLD (Street Tracks Gold Shares). I'm am going to eat canned food and buy $50 cent donuts for lunch, and put all of my money into currencies that are NOT the US Dollar, in hopes that when all of this is over, I can invest in some really, really cheap companies.

In case of complete meltdown, I put real euros in a safe-deposit box in my bank. I don't have a gun (nor do I wish to) to protect myself if civil unrest breaks out. I'm not sure how I will get to the bank to get the euros if the dollar completely collapses.

I asked the bank teller, just for kicks, if I would be able to get my safe deposit box contents out in case something bad, like a "national emergency" happens. She said that as long as the bank is open, I can. Will the bank be open? I don't know.

I may sound completely paranoid, but hey, the Bear Stearns CEO lied bold face last week about his companies future. Now he has no company.

I have to convert my money into anything other than the USD just for it to retain its value. It's all but certain that the USD is going down. People in other countries have absolutely no respect for it, and respect is everything! It's getting ugly. This guy on CNBCW (some Faber dude) pretty much insulted the US, calling it a "junk country." He said the USD is going to lose all of its value. He verbally spit on the currency and the country. Real disturbing stuff, man.

That scares the crap out of me, that he would make such bold and insulting statements on Global TV. How about you?