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Old 10-27-2011, 04:11 PM   #21
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Originally Posted by REattempt View Post
I've worked myself into a bit of a anxiety state.

If we have a prolonged depression due to debt/spending & Oil issues, how will I survive? What will happen to my kids future? How do I protect my assets? Can I protect them?

Now I'm thinking about selling everything and fantasizing about buying property that I can cultivate food with enough forest to be able to cook and heat a diminutive well insulated house with manual pumps and handguns pointed in every direction.

So much for reading for "fun."

Anyone else concerned? What actions if any are you taking? If I were 60, I might think about it differently, but while my financial state is certainly not tenuous, I have enough of my German mother [who lived through the depression] in me to start preparing.

I long ago stopped watching any US news or financial programs. I get my news mostly from BBC radio these days. Even the really bad news is delivered with a "stiff upper lip, no worries" tone of voice.

I can't influence anything and I'm not going to panic and change what I do, or how I live. When the July 7 bombers hit the tubes and buses in 2005, DW was due to be there within a couple of days (she was already over there, on a 6 week vacation). She went anyway, and was staying in the London School of Economics student Dorms right by the most badly damaged Tube station. She had to walk a bit more to catch a bus and take the Tube but said everything seemed fairly normal, except when someone wearing a backpack got onto a Tube or bus - people openly watched them closely but never said anything.

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Old 10-27-2011, 08:16 PM   #22
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Old 10-27-2011, 09:31 PM   #23
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I agree with W2R2 too! I've gotten myself on overload many times and had to shut it off. I make it a habit to not watch T.V. or the news during the day. Get enough headlines on the internet.

On the flip side, my sister in law is freezing seeds so she can grow her own food when the world ends and in her words "aims to be self sufficient".
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Old 10-27-2011, 09:55 PM   #24
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One of my favorite pastimes is reading old, sometimes really old, issues of the Wall St. Journal. Go back to any year you like, all the way back to 1889, and you find extremely convincing arguments that the sky is falling and America is doomed.

It's a bit depressing, because it's those articles that convinced my ancestors not to buy the stocks that would have made me the snotty trust baby that I aspire to be!

Anyway, and I speak from personal experience here, if you have any German blood in you, you'll never be completely worry-free about anything.
And if I claim to be a wise man, it surely means that I don't know.
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Old 10-29-2011, 10:52 AM   #25
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My biggest concern going forward is will my kids be able to take advantage of a job market that provides the same opportunities that I had. I hope so, but just in case that doesn't happen, I will do as much as possible to leave them something to make their lives a little easier. That said, if our gov't steps up now and addresses the deficit vs continuing to kick the can down the road, my concern will be diminished.
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Old 10-29-2011, 08:17 PM   #26
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Hope it's okay if share your post with my 78yo mom. Lots of German ancestry on both sides (Bodenstein and Horn). Almost daily she forwards websites to scare me. For years, she has urged all her family (She won't go without us) to move to Switzerland. She thinks that is the safest place.

Your words won't change her, but they will give her a chuckle.
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Old 10-30-2011, 06:01 AM   #27
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Originally Posted by bbbamI View Post
Change your reading habits...
+1 and maybe buy a set of golf clubs. Funny thing, I never think about oil while on the the golf course.
Retired 3/31/2007@52
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Old 10-31-2011, 10:03 AM   #28
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Originally Posted by brewer12345 View Post
Emergency preparedness is always wise. That said, that's all it is. No man is an island.
Originally Posted by brewer12345 View Post
$150 oil and $7 nat gas means I laugh until I wet my pants and then go buy some champagne.
Well, with behavior like that, the rest of us might take up a collection to transport you to your own island!

Me, I'm just going to go fishing and harvest all our fruit trees. "Plan B" is to make sure that I know the locations of Pierre Omidyar's food warehouses...

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Old 10-31-2011, 06:32 PM   #29
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Originally Posted by ohyes View Post
Lots of German ancestry on both sides (Bodenstein and Horn). Almost daily she forwards websites to scare me.
She is probably getting the sites from my dad, who never seems to run out of them.

In fairness, our folks lived through the Great Depression, so maybe we should excuse them their manic gloominess.

But, Dad, all these years, while you've been buying freeze-dried food, bottled water, and guns, couldn't you have hedged a bit and bought a few shares of stock? Ah, never mind.
And if I claim to be a wise man, it surely means that I don't know.
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Old 10-31-2011, 07:22 PM   #30
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It's hardly suprising that a retiree's combination of (i) loss of employment based income and (ii) more spare time to waste watching sensationalist media hacks competing for the most extreme prediction of the day, may result in financial anxiety attacks.

Keep yourself mentally and physically busy in whatever way works for you and remind yourself that people have been preaching financial armageddon since early cavemen predicted a shortage of rocks. Occassionally they will be right but most of the time they have been proven wrong. And for the rare occasions when the Cassandra of the day gets it right? LBYM, diversification and taking care of your physical and mental health will see you through just about anything short of complete societal collapse.
Budgeting is a skill practised by people who are bad at politics.
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Old 11-03-2011, 09:13 AM   #31
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I think it's all relative. Even if we do have a major meltdown, I want to be in a position where I'm still better off than had I not prepared for later life. My dad always told me not to worry about what I cannot I focus on saving and asset allocation...the things I can control.
"Live every day as if it were your last, and one day you'll be right" - unknown
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Old 11-03-2011, 12:29 PM   #32
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If it comes to a point where you have to dig your own well & grow all your own food, then forget about your ability to do it by yourself. Instead, start forming your own militia and hope you can lead rather than be conscripted.

Look at Somalia or Afghanistan to see what happens when society breaks down. I think the people preparing for Armageddon by stocking food & weapons are more delusional than Joe Average.
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Old 11-08-2011, 04:53 AM   #33
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There is truth to "Ignorance is bliss." You've had time to dive into all of the differing ideas and opinions regarding minutia of crap you can't control anyhow - if you look at the language used, it's meant to induce an emotional reaction so that then you may be willing to take up the cause or contribute or......

Enjoy the time you have with what you really want to do (Ebay!) - and then read only every now and then - I do read the WSJ everyday but many times I just skim the articles as it seems things repeat, repeat, repeat - like the women's magazines - same old stuff just rearranged....

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