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View Poll Results: Doom + Gloomers: what are you doing to prepare?
staying the course against your better judgement 74 66.07%
getting out of stock market 6 5.36%
stockpiling cash 15 13.39%
buying gold 7 6.25%
converting assets to another currency 7 6.25%
stockpiling food/water/guns/ammo 15 13.39%
buying'73 Ford Falcon Coupe and converting it into an impregnable fortress/killing machine (shoulder pads + shotgun free with car) 11 9.82%
Multiple Choice Poll. Voters: 112. You may not vote on this poll

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Doom + Gloomers: What are you doing to prepare?
Old 07-27-2008, 09:19 AM   #1
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Doom + Gloomers: What are you doing to prepare?

This post is made partly in jest, but I am curious to know what those of you are doing who believe the current financial crisis is fundamentally different and that some really bad times are ahead.
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Old 07-27-2008, 10:07 AM   #2
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After reading the choices, I decided I'm not as much of a Doom + Gloomer as I thought!

I am not doing any of those things. The economic situation would have to get a lot worse than it has before I would.

For example, for planning purposes I have envisioned a possible (though perhaps unlikely) scenario in which the Dow drops to around 6000 or so for 15 years, inflation increases significantly, real estate continues to sink, unemployment shoots through the roof, yada yada yada. If/when all of that should happen, I would stay the course (but NOT against my better judgment), plant a vegetable garden, and live my life with considerable pleasure and contentment while I wait it out.

The only thing I would possibly stockpile is food. Although I am firmly behind the second amendment, personally I happen to view guns with great distaste/dread/horror and will not have one in my house much less stockpile guns and ammo.
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Old 07-27-2008, 10:46 AM   #3
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I'm willing to go with the '73 falcon if you throw in a cool scruffy dog and a few cans of dog food.
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Old 07-27-2008, 10:54 AM   #4
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CFB, thinking of changing your asset allocation of dogs?
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Old 07-27-2008, 10:59 AM   #5
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The only thing I would possibly stockpile is food. Although I am firmly behind the second amendment, personally I happen to view guns with great distaste/dread/horror and will not have one in my house much less stockpile guns and ammo.
The main issue with that scenario is if your neighbor wants your stockpile.
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Old 07-27-2008, 11:03 AM   #6
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Staying the course IS my better judgment. Though will keep fishin' pole an shootin' irons in good tune and handy. Keep up the practice with both just for good measure.

Can always pick up a stray dog if need be.
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Old 07-27-2008, 11:04 AM   #7
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The main issue with that scenario is if your neighbor wants your stockpile.
Well, I'll always manage somehow. Always have, always will.
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Old 07-27-2008, 11:06 AM   #8
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I've come to the conclusion that having a nearby pond or other large body of water stocked with fish is a better alternative than hunting for food. Catch it; kill it; eat it.

Oh, a garden is nice, too.
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Old 07-27-2008, 11:24 AM   #9
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Plenty of room for a garden here, and a bazoodle of fish filled lakes.

No mortgage, no car payments, drop the satellite tv, cable internet and heat with wood.

We could probably get by on 1000-1400 a month for a good while.

Dividend and interest payments are more than 3x that amount.
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Old 07-27-2008, 11:52 AM   #10
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I think a '73 DeVille would be a better choice than a Falcon. The DeVille has to weigh at least 3 tons.
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Old 07-27-2008, 12:31 PM   #11
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Originally Posted by CompoundInterestFan View Post
This post is made partly in jest, but I am curious to know what those of you are doing who believe the current financial crisis is fundamentally different and that some really bad times are ahead.
Is this thread eligibility limited to "Doom + Gloomers"? What about "Lousy but it'll get better"
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Old 07-27-2008, 12:36 PM   #12
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Is this thread eligibility limited to "Doom + Gloomers"? What about "Lousy but it'll get better"
IMO, if you think it will get better, you're not a doom and gloomer. Unless you don't think it will get better until we're all back into the third world or in some Mad Max scenario, anyway.
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Old 07-27-2008, 01:17 PM   #13
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Where I live (forests of SW oregon) there are a whole lot of survivalists that are completely off the Grid and already living as if the rest of the world has already gone back to the dark ages or worse. probably they wouldn't even notice it if the direst scenario actually comes to pass... I'm amazed at what our little 7 acres can produce and when I total what I really must spend in order to survive (as opposed to wants) $12 K a year is fat city
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Old 07-27-2008, 02:22 PM   #14
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If things really got really bad (plan Z, that's if we have exhausted plan A, B, C, D,...), then we would probably board up the house and go live in my family's compound high up in the mountains on the Swiss/French border. Seventeen acres of fertile farmland, another 12 acres of forest, three houses (with only 1 occupied right now), enough land to feed all of us and enough wood to heat the houses for a lifetime. We have a stream filled with fish traveling across the compound, plenty of wildlife to hunt in the forest, and a massive rain collection system plus 2 springs that would provide adequate drinking water reserves. Also plenty of euros/swiss francs/USD in case any one of those currencies is still worth something. No guns, though we can easily remedy that situation. No 73 Ford Falcon either, but a bobcat and three tractors that could be converted to armored vehicles. Are we prepared enough?
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Old 07-27-2008, 02:28 PM   #15
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OK, FIREdreamer, you described a small idyllic utopia. My question is: Why haven't you moved to utopia already??
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Old 07-27-2008, 02:29 PM   #16
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I didn't vote 'cos I'm not a "doom and gloomer" and am planning on staying the course. However, it will be interesting to see how many forum members consider themselves to be doom and gloomers. I would have thought that people who can be FIRE'd would mostly fall in the "confident I can ride out whatever may come" club
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Old 07-27-2008, 02:32 PM   #17
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OK, FIREdreamer, you described a small idyllic utopia. My question is: Why haven't you moved to utopia already??
Slow internet connection, no cable TV, no shopping and the biggie, no jobs. I do spend about one month a year there on vacation and it is pretty high on the list for possible FIRE locations, but I have to FIRE first... One of the vacant houses in the compound is reserved for me is I choose to retire there.

P.S.: I am not a doom and gloomer.
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Old 07-27-2008, 02:37 PM   #18
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If things really got really bad (plan Z, that's if we have exhausted plan A, B, C, D,...), then we would probably board up the house and go live in my family's compound high up in the mountains on the Swiss/French border. Seventeen acres of fertile farmland, another 12 acres of forest, three houses (with only 1 occupied right now), enough land to feed all of us and enough wood to heat the houses for a lifetime. We have a stream filled with fish traveling across the compound, plenty of wildlife to hunt in the forest, and a massive rain collection system plus 2 springs that would provide adequate drinking water reserves. Also plenty of euros/swiss francs/USD in case any one of those currencies is still worth something. No guns, though we can easily remedy that situation. No 73 Ford Falcon either, but a bobcat and three tractors that could be converted to armored vehicles. Are we prepared enough?
I think Switzerland has an even higher per capita gun ownership level than the USA, certainly one of the highest in the world, so you can probably expect that your neighbors will be armed to the teeth.
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Old 07-27-2008, 02:41 PM   #19
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This post is made partly in jest, but I am curious to know what those of you are doing who believe the current financial crisis is fundamentally different and that some really bad times are ahead.
I have no mortgage and no other debt. My asset allocation is just peachy and I have the warm fuzzies when I go to sleep. Staying the course should work for me.

If a person has never lived hand to mouth like I have, events deemed negative can be very frightening.

I have done the best I can to prepare for tomorrow, but I live for today.
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Old 07-27-2008, 02:42 PM   #20
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I think Switzerland has an even higher per capita gun ownership level than the USA, certainly one of the highest in the world, so you can probably expect that your neighbors will be armed to the teeth.
No neighbors that are not either family or friends for miles (I know for sure they all have hunting riffles). And like I said, the gun situation can easily be remedied. I have no problem with using guns to defend one's property.
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