The coming financial crisis - Now I know how Noah felt...

**BraggSurvivor** · 03-08-2008, 01:28 PM

I firmly believe our financial problems have just begun. At best, I expect that we will see a Great Depression larger than the one in the '30s. Worst case scenario is a complete financial collapse. To me it is the most obvious fact in the world.

I feel like Noah trying to warn people of the coming flood. They think I am nuts. Last night, I was talking to a lady I have known for years. She is an MBA. So, she is not stupid. The conversation covered many topics. Eventually, it reached politics and it was appropriate to mention my views on the economy. She looked at me like I was insane to suggest that we were entering a Great Depression, not a slowdown or recession. She said that "they" were in control of the economy and Canada was the greatest country on the face of the earth blah, blah, blah. "They" would never let that happen.

This scenario has happened more than I care to admit it. I have to ask myself. Why do I do it? Why can't I just keep my mouth shut?

**Sourdough** · 03-08-2008, 01:42 PM

Because "We" care. And if we warn them, we feel better, than if we keep it to ourself.

We have to some extent shifted a small amount of the responsibility that we feel for those we care about over to them, in a sense they are on notice. The ball is in their court, deal with it.

I have been researching bank ratings for friends, and if you want to see a silly look, of shock, tell them their bank is rated D+ or E-........

**Rick** · 03-08-2008, 02:03 PM

Bragg - So let me get this straight. Everyone you talk to is wrong but you?

Hmmm.

**BraggSurvivor** · 03-08-2008, 02:19 PM

Originally Posted by Rick

Bragg - So let me get this straight. Everyone you talk to is wrong but you?

Hmmm.

No, just 95% of who I talk to is wrong.

It was estimated that in Pompeii that only 5% took heed to the forecoming danger and survived. They watched safely from a distance. Hmmm.

**Rick** · 03-08-2008, 02:31 PM

Hey, you walked into that one. I had to take advantage of it. It wouldn't be ..... well, me if I didn't.

**Canadian-guerilla** · 03-08-2008, 02:40 PM

i know how you feel Bragg
i like to think of it like in the movie Terminator 2
where Sarah Conner is dreaming
and she is at the fence, trying to warn people

no fate but what we make for ourselves

prep now, or pay later

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**BraggSurvivor** · 03-08-2008, 03:46 PM

A few days old but:

http://business.timesonline.co.uk/to...cle3451136.ece

Also says "you ain't seen nothing yet" when it comes to the dollar.

And predicts...$3500 gold.

**wildWoman** · 03-08-2008, 07:42 PM

Well that's all very nice to warn people about impending doom, and so what exactly are they supposed to do now??? Leave their office jobs and mortgaged homes to head into the country and whip up a self-sufficient homestead within a few months? Without having the knowledge, skills and especially heartfelt interest? How's that gonna work?

**canid** · 03-08-2008, 09:15 PM

Originally Posted by Rick

Bragg - So let me get this straight. Everyone you talk to is wrong but you?

Hmmm.

what? you don't get that a lot?

**BraggSurvivor** · 03-09-2008, 12:25 AM

Originally Posted by wildWoman

Well that's all very nice to warn people about impending doom, and so what exactly are they supposed to do now??? Leave their office jobs and mortgaged homes to head into the country and whip up a self-sufficient homestead within a few months? Without having the knowledge, skills and especially heartfelt interest? How's that gonna work?

To be completely honest wildwoman, I've been prepping so long I dont think I would want to start from scratch all over again. But first thing I'd do if I had to start all over is read these boards and make up my mind on which direction I wanted to take and second change my thinking and lifestyle. Getting out of debt would be third because if the impending financial doom is gonna play out as I believe it will, it will be the wealthy and debt ridden hurt the most. The middle class in North America is almost extinct.

Not everyone who prepares will have to play the Grizzly Adams role but IMO knowlege is golden in these times. (no matter how bad it plays out)

**crashdive123** · 03-09-2008, 12:33 AM

The really great thing about preparing for what might come down the pike, even if it doesn't happen, is that you are prepared. I've got home, auto, life insurance. Hope I don't need any of the real soon. Those, along with disaster preparedness, wilderness survial preparations, and on, and on give me and those that are important in my life a bit of comfort and security in the knowledge that we are ready if..... And if it doesn't happen? Great - I'll probably live longer due to lower levels of stress.

**dilligaf2u2** · 03-09-2008, 03:51 PM

I canned some foods at the pantry. I am using the old stuff now. Who there can say "15c for a 1 pound box of instant potato's". That is what they are costing me at this point. "Who can say 45c a lbs for quick cook oats"?

I bought cans of coffee when a #10 can was about $2 a can. I am down to 2 cases.

Telling others to prepare for coming hard times is like telling a chicken the sky is falling. You get funny looks, till the sky falls. Then they are at your house looking for you to save their assets.

Don

**Rick** · 03-09-2008, 03:58 PM

I will concede this, for some there are going to be very hard times ahead. For those that placed themselves in debt, assumed mortgages that were either to large in relation to income or took on some risky form of financing, it will be a SHTF situation. That much is certain.

Crash - I know my luck. All the preparations will probably end up with me getting killed while canning (pressure cooker will blow) or some over stocked shelf will fall on me and crush me. HEADLINES: Man Killed by Falling Tuna.