Do you think there could be a second Great Depression?

[tonyb]

I’ve had cancellations. So yeah, I’m out some scratch.

The dewy-eyed bride and I aren’t inoculated against whatever economic hazards lie ahead, but we know how better positioned we are, for now, than many equally if not more deserving people. Our major revenue streams are still flowing.

Maybe it’s a comfort born of ignorance talking, but I’m not worried. Yet. And I tend toward worrying, usually.

 

[3fingers]

Maybe it’s a comfort born of ignorance talking, but I’m not worried. Yet. And I tend toward worrying, usually.

Likewise. We have been modestly blessed in more recent years in the ability to keep ahead of the bills, but I've been on the other side of the hill and while I have no interest in voluntarily going back there I know what it is and can survive it.
I have been a worrier in the past to the detriment of my health.
It may sound crazy but I take it as personal progress that I apparently have no f#@ks to give.

 

[tonyb]

Likewise. We have been modestly blessed in more recent years in the ability to keep ahead of the bills, but I've been on the other side of the hill and while I have no interest in voluntarily going back there I know what it is and can survive it.
I have been a worrier in the past to the detriment of my health.
It may sound crazy but I take it as personal progress that I apparently have no f#@ks to give.

Worry can be a healthy thing, provided it prompts meaningful action. But I’ve invested waaay too much worry in developments that 1), never came to pass, or 2), I had no control over anyway.

 

[LizzieMaine]

The thing with The Great Depression is that it was over a year before most people realized it was going on. Life went on pretty much per usual for most people thru most of 1930, and it wasn't until the winter of 1930-31 came on that you started to see massive job losses and pay cuts for people who still had jobs. The effects of the current situation could be far more immediate.

 

[tonyb]

It’s to the folks’s credit that I had little idea of how poor we were in my childhood until I was mostly grown. We were fed, and housed, and clothed.

But then, until I was 12 or so we lived almost entirely among people in similar straits. I didn’t sense any stigma attached to poverty until I rubbed elbows with people whose families did things like buy brand new cars and vacation in Europe and go skiing at places you had to fly to. What they had served as a reminder of all we didn’t.

If there’s any social good in hard times, it’s that more of us get a taste of how others have lived for generations. Getting knocked down a peg or three might do wonders for certain personalities.

 

[LizzieMaine]

You don't realize how little you need to be happy until you have to.

 

[tonyb]

^^^^^
It’s kinda like Charles Eames’s banana leaf parable.

A car that gets you where you wish to go is a wonderful thing if that is all it actually does — no ego gratification, no impressing a would-be mate.

 

[SteveFord]

Do you think there could be a second Great Depression?

Yes.

 

[Tiki Tom]

It is new territory. Quantitative easing like there is no tomorrow. I’m talking about plans to drop helicopter money on everyone. Yet the inflation rate needle is hardly moving. It’s like a sudden, unexpected global experiment in guaranteed income for all (sort of). Pass the popcorn. I hope it turns out well, especially for young people just entering the job market.

 

[LuvMyMan]

The thing with The Great Depression is that it was over a year before most people realized it was going on. Life went on pretty much per usual for most people thru most of 1930, and it wasn't until the winter of 1930-31 came on that you started to see massive job losses and pay cuts for people who still had jobs. The effects of the current situation could be far more immediate.

Many people around my neck of the woods, did not think of getting prepared for how this virus ordeal has affected daily life. Daily need items of food and dry goods, personal hygiene, even pet supplies are in very short supply now. I had to send out packages of items to my Daughter that lives about 4 hours North of me as she was out of State when all this started and came home to empty stores. One store close to me today had no bread, so I made my own, not a big deal for me, but some people do not have the skill set to do so...as sad as it is, that is how it is for many.

We are not allowed to discuss politics so this entire virus issue is as double edge sword not just for the USA but the entire World and in some ways I cannot discuss my personal viewpoints on all of it. No matter what I will make it through this even if it did last a year. In knowing the past history of events we have here in the USA, I have already pulled a majority of cash from my bank, have a safe with investment silver and gold, at least 6 months of food storage, and yes, plenty of ammo for any needs that may come for that to be used.

My heart goes out to anyone that is going to suffer a loss of income, or worse from this virus ordeal. My hope is it will get resolved soon and that improvements will happen swiftly for everyone.

 

[Benny Holiday]

The media here is predicting a million Australian jobs will be gone before long, with hundreds of thousands already lost. I'm not an economist so I don't fully understand all the nuances involved with stimulus packages and so forth, but it's looking grim for the economy here for some time ahead.

 

[LuvMyMan]

As much as I do think the virus is a problem, who has the answers as to how we should be "acting" about everything being shut down around the world? I can say I for one am already "sick" of how this is all being so damned destructive to everyone no matter where we live. A sickness World War Three with no shots fired!

 

[PrettySquareGal]

As much as I do think the virus is a problem, who has the answers as to how we should be "acting" about everything being shut down around the world? I can say I for one am already "sick" of how this is all being so damned destructive to everyone no matter where we live. A sickness World War Three with no shots fired!

I would say for now in the US as we try to flatten the curve over the next few weeks or more that the medical/science/immunologist experts are a good source for answers.

 

[PrettySquareGal]

I have already pulled a majority of cash from my bank,

May I ask how that will protect you? It's that kind of thing that can destabilize banks, is it not?

 

[LizzieMaine]

A lot of places here, before they were shut down entirely, were refusing to accept cash.

 

[Lean'n'mean]

I have already pulled a majority of cash from my bank, have a safe with investment silver and gold, at least 6 months of food storage,

What was your address again ?

 

[Edward]

The thing with The Great Depression is that it was over a year before most people realized it was going on. Life went on pretty much per usual for most people thru most of 1930, and it wasn't until the winter of 1930-31 came on that you started to see massive job losses and pay cuts for people who still had jobs. The effects of the current situation could be far more immediate.

THat was certainly my experience of the 08 crash; didn't feel any impact til 10. Since then, across my sector we've taken a full 20% pay reduction in real terms, so while I'#m very luck that my job is carrying on as realtively normal (with just aswtich to online delivery of teaching) to the point where I'm busier than ever, I'm much more wary about it financially. Ironically, I'll probably come out of it ahead because we're not eating out or socialising. A few quid on an impromptu pub lunch here and there soon mounts up. Making a real effort to stay off eBay too!

 

[tonyb]

Of the personal choices I’ve come to regret, the overwhelming majority were made impulsively.

I’m hard-pressed to recall any situation in which panic proved helpful.

 

[LuvMyMan]

What was your address again ?

Just look for the home with the 12 gauge shotgun notice on the doors, as I do keep weapons at hand, including carry concealed full time. My three dogs are a fantastic alarm system. LOL!

 

[LuvMyMan]

May I ask how that will protect you? It's that kind of thing that can destabilize banks, is it not?

Banks close up you lose your cash. Not sure about anyone else on that matter but my money has a value to me to be in a safe place and not just "gone" due to bank closures.