Economic Expectations Pulse - Poll

[jds6958]

I would like to take a moment to guage the sentiment of the RR community regarding current economic conditions.

1) I do not expect to experience any negative impact related to the economy for the next 4 years.

2) I expect a moderate economic downturn, but the U.S. and global economy will recover near term. I am not that concerned.

3) I am rather concerned about the economy. I expect a series of events leading up to some rather uncomfortable times, similar to downturns over the last few decades.

4) I anticipate events that may reduce our standard of living and comfort level to the Great Depression era. I expect this to impact my daily living quite severely.

5) I believe we are about to experience an unprecedented series of events stemming from the systematic collapse of the U.S. and/or global economic structure that retains the capacity to usher in extreme chaos in a very uncomfortably unpredictable way.

6) Other - feel free to explain -

Also, if you have or have not taken steps to prepare and you would like to discuss it, please offer your comments.

[jds6958]

I voted for 5, because that is how I prepared. I also believe that #4 is possible as well. #3 or #2 would happen if we found a new bubble in time, but I do not believe one exists.

[ojibweindian]

I'd actually vote for number 4, if I had any faith in society's ability to deal with adversity.

Nowdays, I fully expect large increases in crime, rioting; generalized social unrest. I've prepared to live a somewhat mobile existence in a much more hostile environment.

[jds6958]

I'd actually vote for number 4, if I had any faith in society's ability to deal with adversity.

Nowdays, I fully expect large increases in crime, rioting; generalized social unrest. I've prepared to live a somewhat mobile existence in a much more hostile environment.

Whatever happened to the good 'ol days in which people were content with standing in food lines during a depression....

[ojibweindian]

Whatever happened to the good 'ol days in which people were content with standing in food lines during a depression....

:D

Was actually thinking "Whatever happened to the good ole days when people were actually more self-reliant."

What's really amazing is that there aren't really too many people that know how to hunt, grow and store their own foodstuffs, know basic survival skills, etc.

I used to disappear into the forests near Mt. Hood, OR for days when I was a teenager. Learned all sorts of wilderness skills. From the Navy, I learned all sorts of advanced first aid and field medical skills. All of which, I think, will probably become invaluable in a few short years.

[WretchSaved]

we are getting closer and closer and closer and closer and closer. i have all the Faith in our Lord that i will be taken care of.

[jds6958]

:D

Was actually thinking "Whatever happened to the good ole days when people were actually more self-reliant."

Well, I know how to can food now. Hunting and growing is well within my capability, if it all comes to this. At this point, I worry less about my family and worry more about others. I read a statistic the other day that said only 5% will take action to prepare for an unfamiliar danger. We are so many generations from the last economic meltdown or things such as, self sustainability, moral background, close family network, etc, that most will not be prepared...

[jds6958]

I will leave this poll out for a while. Thanks to those who participated. I created this poll because I wanted to guage two particular audiences, the gold community and the RR community. I wanted to see if there were any significant differences in expectations in our upcoming economic situation. It turns out that the expectations are about the same. RR was a little more biased to response #5. That could be because of the small sample size or because most here have been exposed to my ranting and raving in my other thread and maybe I made a convincing argument so far.... Or it could be that RR expects an economic crisis to usher in certain prophecies.... It also may be that certain members in the gold community have not done much DD on current economic conditions and just like gold because it is shiny....:idunno

Anyway, here is the other thread. I expect to poll about every 3 months to satisfy my curiousity...

https://www.kitcomm.com/showthread.php?t=11988

[Nova]

4) I anticipate events that may reduce our standard of living and comfort level to the Great Depression era. I expect this to impact my daily living quite severely.

I voted for #4. But either #3 (shorterm) or #5 (longterm) are possible. If the problem was the federal debt alone, or the housing/bank crisis alone; I'd vote for #3.

Six months ago, I'd have leaned toward #5. But when I pray, I have a sense that the timing isn't right yet. I think the current situation is a wakeup call to individually get our financial houses in order. And not to count on the government being our solution. Although I expect the government social programs to continue & even increase as unemployment rises; ultimately our currency will collapse & that safety net will be gone. That may be a year from now, or 20 years from now. But if we continue our current course, it is unavoidable.

Government measures will continue to deflate the dollar. By increasing the currency in circulation, the buying power of the dollar is diluted. So each dollar buys less. I think the real inflation rate was more like 10% last year. And will be higher this year.

I think the FED realizes this. But is so concerned about a deflationary economy (like in Japan) that they are willing to trash the dollar regardless. Plus, devaluing the dollar is a form of taxation. Because it transfers wealth from the public (or anyone holding dollars) to the government. But the net effect is loss of private wealth. And I'm concerned about how investors (particularly foreign ones) are going to react to the drop in ratings.

Another area that concerns me is our income tax base. Acording to the statistics I've read, 30-40% of all wage earning households pay no income tax. The top 10% of wage earners pay 50% of our income taxes. And the balance (50%-60%) pay the rest. If our government continues to trash our economy, what is to stop those top earners from fleeing & taking their income with them. After all most are already global with their companies.

I frequently hear people quote scripture saying God will provide. And yes He does. Thru one of 3 ways. First, He provides primarily by giving us gifts, abilities & opportunities to generate income. Second, He provides by moving others to bless us & share their excess. I suppose government programs could go here. But don't think that was ever His perfect plan. Third, He can (not as often but still fully within His scope) thru supernatural intervention.

So when I look at the situation, I think God has provided. But we haven't made wise choices with our finances. I'd say 90% of the people I know with money troubles are because of poor planning & living beyond their means. The other 10% are caught in situations beyond their control. Not to discuss my giving, but I've helped people in both situations. But in the first case, I try to steer them toward better management. Sadly, most would prefer to keep their lifestyle despite having a crisis pop up every few months.

I think there is still a window of opportunity for us (as individuals) to reduce our debt & shore up our own situations. Those who did the best during the Great Depression has paid off homes, jobs & the ability to grow their own food. Regardless of where you are in the spectrum, challenging times are ahead.

[jds6958]

I voted for #4. But either #3 (shorterm) or #5 (longterm) are possible. If the problem was the federal debt alone, or the housing/bank crisis alone; I'd vote for #3.

Six months ago, I'd have leaned toward #5. But when I pray, I have a sense that the timing isn't right yet. I think the current situation is a wakeup call to individually get our financial houses in order. And not to count on the government being our solution. Although I expect the government social programs to continue & even increase as unemployment rises; ultimately our currency will collapse & that safety net will be gone. That may be a year from now, or 20 years from now. But if we continue our current course, it is unavoidable.

Government measures will continue to deflate the dollar. By increasing the currency in circulation, the buying power of the dollar is diluted. So each dollar buys less. I think the real inflation rate was more like 10% last year. And will be higher this year.

I think the FED realizes this. But is so concerned about a deflationary economy (like in Japan) that they are willing to trash the dollar regardless. Plus, devaluing the dollar is a form of taxation. Because it transfers wealth from the public (or anyone holding dollars) to the government. But the net effect is loss of private wealth. And I'm concerned about how investors (particularly foreign ones) are going to react to the drop in ratings.

Another area that concerns me is our income tax base. Acording to the statistics I've read, 30-40% of all wage earning households pay no income tax. The top 10% of wage earners pay 50% of our income taxes. And the balance (50%-60%) pay the rest. If our government continues to trash our economy, what is to stop those top earners from fleeing & taking their income with them. After all most are already global with their companies.

I frequently hear people quote scripture saying God will provide. And yes He does. Thru one of 3 ways. First, He provides primarily by giving us gifts, abilities & opportunities to generate income. Second, He provides by moving others to bless us & share their excess. I suppose government programs could go here. But don't think that was ever His perfect plan. Third, He can (not as often but still fully within His scope) thru supernatural intervention.

So when I look at the situation, I think God has provided. But we haven't made wise choices with our finances. I'd say 90% of the people I know with money troubles are because of poor planning & living beyond their means. The other 10% are caught in situations beyond their control. Not to discuss my giving, but I've helped people in both situations. But in the first case, I try to steer them toward better management. Sadly, most would prefer to keep their lifestyle despite having a crisis pop up every few months.

I think there is still a window of opportunity for us (as individuals) to reduce our debt & shore up our own situations. Those who did the best during the Great Depression has paid off homes, jobs & the ability to grow their own food. Regardless of where you are in the spectrum, challenging times are ahead.

Great post. Thanks again for your input!