How Bad Is It???

[RIJIMMY]

my take
think things are bad? you aint seen nothing yet. SAve every dime you can, prepare for months out of work. Sure I sound like a nutso, but as part of my job, I get to hear really, really smart people talk about the economic prospects and I have not heard one single speck of good news. And thats over the next 2 years. Housing prices still need to go down at least another 15%, think of the impact that will have on foreclosures, unemplyment is growing at a monumental rate.
I am suprised at how many people I still see shopping or at restaurants. Thats going to end quickly. The holiday sales will be abysmal, the stock market is going to go even lower.
Can you imagine if there is an international incedent in the middle of all this?
Please, take my advice - BE PREPARED. This may be the great depression you tell your grandkids about some day, no kidding

[rwilhelm]

I think it is pretty bad out there and I don't see it getting better anytime soon. We have too many problems right now. Housing crisis, banking crisis, auto crisis, rising employment rates. Where I work we are going to be about 600,000 short of budgeted sales for Nov and Dec bookings are way down also. Yes I am scared about the future!

[spence]

Originally Posted by RIJIMMY

my take
think things are bad? you aint seen nothing yet. SAve every dime you can, prepare for months out of work. Sure I sound like a nutso, but as part of my job, I get to hear really, really smart people talk about the economic prospects and I have not heard one single speck of good news. And thats over the next 2 years. Housing prices still need to go down at least another 15%, think of the impact that will have on foreclosures, unemplyment is growing at a monumental rate.
I am suprised at how many people I still see shopping or at restaurants. Thats going to end quickly. The holiday sales will be abysmal, the stock market is going to go even lower.
Can you imagine if there is an international incedent in the middle of all this?
Please, take my advice - BE PREPARED. This may be the great depression you tell your grandkids about some day, no kidding

That's a lot of doom and gloom. I think things will still get much worse but this isn't going to be the Great Depression II.

Besides, if we all stop shopping that will make things worse!

Everybodies situation is different. People need to react as appropriate.

-spence

[Crafty Angler]

Originally Posted by RIJIMMY

my take
think things are bad? you aint seen nothing yet. SAve every dime you can, prepare for months out of work. Sure I sound like a nutso, but as part of my job, I get to hear really, really smart people talk about the economic prospects and I have not heard one single speck of good news. And thats over the next 2 years. Housing prices still need to go down at least another 15%, think of the impact that will have on foreclosures, unemplyment is growing at a monumental rate.
I am suprised at how many people I still see shopping or at restaurants. Thats going to end quickly. The holiday sales will be abysmal, the stock market is going to go even lower.
Can you imagine if there is an international incedent in the middle of all this?
Please, take my advice - BE PREPARED. This may be the great depression you tell your grandkids about some day, no kidding

Dude, I'm with you on this one -

If you do prepare yourself and it doesn't happen, then all you will have done is learn to live WITHIN your means and perhaps you'll also have a little stashed away.

If you don't prepare yourself, home and family for something that may happen down the road, you're not gonna be able to play catch-up on it once the mud has already hit the fan.

Kinda like the folks who refuse to evacuate and decide to stay on barrier islands during a hurricane to party it up. When you see 'em interviewed later, they seem somehow to have seen the light and swear they'll never do it again

Hey, it's up to you to decide - blow it off if you like. It's still a free country