first off, Q, I appreciuate the effort you have put into researching and preparing this for us.
Now, to the uninformed, fearful perspective. (mine)
It is so hard to know what to believe where the economy is concerned. As one that doesn't really have any money anyway, investments, gold, silver,
they are all interesting discussions, but aside from the impact on the price of a loaf of bread, it's hard to see how they impact me.
I understand that the US is in a BOATLOAD of debt. As far as I know, it's been that way for a long, long time. The government keeps spending, on
things like war and weapons, and we keep amassing an amount of debt that is a number that before not so long ago, was not even a practical number,
where money is concerned. It doesn't take an economist (thank God, cuz I suck) to realize that we are in a poop of a lot of trouble.
It seems to me like there have always been other governments willing to buy our debt, because we were thought to be good for it. Now it seems, by way
of your report, that it isn't the case any more.
My first problem: There are those on here that tell us everything is fine and that historically, we HAVE to see an improvement, because that's what
history tells us. I struggle with that because never in history have we had such a huge debt as a nation, so how could historical precedents apply?
I'm told in a nutshell that if I don't think the economy is going to improve, that I'm an idiot. I'm told that things like unemployment,
foreclosures, inflation, those are all things that FOLLOW swings in the market, and that the market has improved, or slowed it's decline, so
everything else should be getting better too.
We have our president and his cronies telling us things are looking better. We have others telling us that they can't find a job. They can't afford
their mortgage, or rent, or utilities, let alone payments on THEIR debts. Whether or not they should BE in debt is not the issue, to me. Though it is
very important and in my opinion our NATIONAL economy, represented millions of times in these defaults, it is hard to accept that the lifestyle
encouraged in this nation for many, many years, was to accumulate debt.
So now, here we are. A small percentage of our population positioned to ride out what could be a complete disaster, and the vast majority of everyone
else, set to wait in soup lines for a meal.
My second problem: Again, I appreciate your effort in bringing this to our consciousness. What are our options? What are we supposed to do? Do you
have any recommendations for those of us that don't have a large nest egg? What should we be doing, just to be sure we are as safe as we can be for
I know it won't be long and there will be some people chiming in that are convinced that this is nothing to worry about. I prefer to be prepared for
the worst, but hope for the best. Hope does not feed my children. Hope does not keep a roof over my head. If I had a couple grand in the bank, what
should I be doing with it? Will it be worth half of what t is in a few months? What are your gut feelings about what the average person, or someone on
here should be doing?
I hate being ignorant, but the volume of information required for me to make an informed decision is staggering and disheartening. I don't KNOW
economics, which is probably why I'm in the boat that I am, but I think I'm a fairly good person and I don't want my children to suffer. What is
the line between paranoia and preparation on this one?
Thanks for all your time, Q.
[edit on 2-8-2009 by KSPigpen]