View Poll Results: Doom + Gloomers: what are you doing to prepare?
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staying the course against your better judgement
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74 |
66.07% |
getting out of stock market
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6 |
5.36% |
stockpiling cash
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15 |
13.39% |
buying gold
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7 |
6.25% |
converting assets to another currency
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7 |
6.25% |
stockpiling food/water/guns/ammo
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15 |
13.39% |
buying'73 Ford Falcon Coupe and converting it into an impregnable fortress/killing machine (shoulder pads + shotgun free with car)
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11 |
9.82% |
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Doom + Gloomers: What are you doing to prepare?
07-27-2008, 08:19 AM
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#1
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Recycles dryer sheets
Join Date: Jan 2007
Posts: 222
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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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07-27-2008, 09:07 AM
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#2
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,501
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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.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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07-27-2008, 09:46 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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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.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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07-27-2008, 09:54 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,713
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CFB, thinking of changing your asset allocation of dogs?
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07-27-2008, 09:59 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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Quote:
Originally Posted by Want2retire
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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The main issue with that scenario is if your neighbor wants your stockpile.
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07-27-2008, 10:03 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,506
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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.
__________________
There must be moderation in everything, including moderation.
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07-27-2008, 10:04 AM
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#7
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,501
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Quote:
Originally Posted by Marquette
The main issue with that scenario is if your neighbor wants your stockpile.
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Well, I'll always manage somehow. Always have, always will.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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07-27-2008, 10:06 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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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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07-27-2008, 10:24 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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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.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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07-27-2008, 10:52 AM
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#10
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,346
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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.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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07-27-2008, 11:31 AM
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#11
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,726
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Quote:
Originally Posted by CompoundInterestFan
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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Is this thread eligibility limited to " Doom + Gloomers"? What about " Lousy but it'll get better"
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07-27-2008, 11:36 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by MichaelB
Is this thread eligibility limited to "Doom + Gloomers"? What about "Lousy but it'll get better"
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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07-27-2008, 12:17 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,526
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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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07-27-2008, 01:22 PM
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#14
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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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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07-27-2008, 01:28 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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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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07-27-2008, 01:29 PM
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#16
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,130
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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
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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07-27-2008, 01:32 PM
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#17
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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Quote:
Originally Posted by LOL!
OK, FIREdreamer, you described a small idyllic utopia. My question is: Why haven't you moved to utopia already??
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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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07-27-2008, 01:37 PM
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#18
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,130
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Quote:
Originally Posted by FIREdreamer
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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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.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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07-27-2008, 01:41 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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Quote:
Originally Posted by CompoundInterestFan
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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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.
__________________
There's no need to complicate, our time is short..
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07-27-2008, 01:42 PM
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#20
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Moderator Emeritus
Join Date: May 2007
Posts: 12,901
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Quote:
Originally Posted by Alan
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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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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