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Online Discussion: Tracking new emerging diseases and the next pandemic.

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Ironstone View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ironstone Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 1:52pm
Best thing that ever happened to me was having no credit after a divorce.  I learned to live without creditcards.  When i was able to afford a home i was deluged with offers to sign up for another.  Too late, i did not need them.  I seldom use a TV and have a small B&W, about 8 inches, i would guess.  in the garage i have two brand new color ones still in the boxes.  Guess people felt sorry for me and tried to move me into the remote control age.  Habit, in living and spending, will detrmine how well we do in this.  I was lucky.
Ironstone
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 2:51pm
BamSteve, would very much appreciate your thinking. Different opinions very much welcome.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 3:15pm
Femvet,
 
I would agree with your points - I am just too poor to do it (My sarcastic sense of humor always gets me in trouble).  Although I guess if I really believed that society is going to degrade to the level being discussed - I would pull money out of retirement plans, take the penalty and pay off debt/mortgage.  For myself, I don't believe that would be a wise decision based on my perception of the current threat.  I would think that quite a few people have 401K or IRAs and I wonder how many people have removed their money from those plans.  Those plans could be worthless a year or two from now in a widespread economic meltdown.   I am betting that the melt down does not occur.  But I am watching the cards as they come out of the deck and reserve the right to change. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 5:05pm

Femvet,I heartily agree.

Get outta debt,this would seem a no brainer, but of course, you know people are materialistic and greedy, they borrow, spend, borrow, spend, borrow.

Advance payments does have an advantage, the money is safe somewhere. Good thinkin'.

The only survivors are people with no debt, owning a house, cash in hand, and an over packed cupboard, period.

BTW, if this plague hits hard, and folks start dyin' causing empty houses to flood the market, it will bring a downward spiral in the market. I'm selling my rental houses now and possibly my residence after hurricane season.

I have heard people say, don't worry if you can't make your mortgage, we'll all be in the same boat, the banks won't take our homes away. Well, don't be too sure about that. Remember, all rich investors need to put down is 10% and if noone wants to buy your house at it's present value, the bank will take whatever it can get, and that may be considerably lower than todays market value. Imagine losing all your equity. Someone buys your house for a song and you're out on the street. Don't say it can't happen, it did, it was called the great depression. My grandfather lost his home and his 11 children were on the streets until they found a much smaller house. My mom still cries when she tells the story.

Concerning inflation, I see first inflation, as supply and demand will increase prices.

But if the flu goes to a third wave and it's a super killer, then yes, it could become a deflationary market, but this of course would take time.
HOWEVER one would have to include the calculation of the monies/estates inherited from the victims of AF.

There may develop a deeper chasm between the haves and the have nots.

MK
    
    
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ladybug Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 6:25pm
Many of the local banks in Southeast Louisiana were closed for several weeks after Hurricane Katrina hit, and most stores were operating on a cash only basis. Fuel was prepay only and there were people filling 55 gallon drums of gasoline up as well as lines miles long at the pump to fuel up. It was unbelievable, and we are 70 miles north of New Orleans. Power was out in our area for almost a month and so was the water due to possible contamination. Stores were out of everything and suprisingly enough our Walmart Supercenter is still not open 24/7 because they are unable to keep the shelves stocked due to the number of people who have relocated from areas that recieved alot more damage than we did- Damage in our area was extensive, but being 70 miles away from the storm helped buffer the blow a little. Storefronts were blown out, roofs torn off,trees on houses and vehicles, and mobile homes were flipped onto their sides here. We plan to be prepared for this, we have 6 children depending on us to be, but it sure is scary!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mississipp Mama Quote  Post ReplyReply Direct Link To This Post Posted: March 28 2006 at 8:54pm
  Ladybug you sound like you are in my home town Hattiesburg. We plan to be a lot better prepared, I'm looking into getting a hand pump well.  We bought 3 porta potties like the ones the construction guys use.  Picked them uptoday.  Our walmart is reopen 24/7 but it'hard for them to keep the shelves stocked.  I hate to see what's going to happen if and when the SHTF.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: March 29 2006 at 7:15pm
My last minute preps will be candy flour pancake mix cake mix dried fruit.
I am buying canned food and water and rice now paper products last.
Also I bought radio and batteries the last time we had a power outage .
I bought a generator too. 
I will buy electronic next wind radio battery tv walkie takies
 
funny thing is the generator makes me feel safe .  I dont want to rely on candles    I will use candles when Ineed to look I wiil buy solar lights.
 
 I see this lasting 18 months and in waves .I still beleive cash will be the currency needed but gold and liquior will be king for awhile I will be taking cash out for spending   
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Post Options Post Options   Thanks (0) Thanks(0)   Quote K_Ohio Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 8:15am
If chaos comes, I think there will be a huge run on banks and they wont be able to pay out as they have limited cash on hand. I was amazed to discover just how little cash a bank holds.
I asked about removing 80K and they said that might be a problem.

You have 80K???? Damn I'm in trouble. I live paycheck to paycheck with 7 kids to raise and not a farm animal in sight. I've been trying though $20 here $50 there. It's gonna take awhile but at least I've started.
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sweetpea View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sweetpea Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 9:24am
I'm curious what one would do with $80K? I hope you have a good safe at home, you could keep it stashed there until the banks are back to normal again.  I figure when TSHTF that our world would become a world of bartering for goods, money wouldn't be of much use except that it's just another piece of paper ...
 
I have a different mindset, that a majority of my savings is my personal storage ... and whatever pidley amount I have left in savings, well I'll just have to trust FDIC with that.  I might keep several hundred out for minor purchases at first, but soon money will become useless when people start to run out of food and water ... that when the bartering begins ...
"When an emergency arises, the time for preparation is past."
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Amethyst View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Amethyst Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 9:38am
Personally, if I had that much money saved up, I'd buy a house, or a small cabin up north if I already had a house.  I live in an apartment right now and if a pandemic hits, I'd probably be safer outside of the city than in it.  But a house would be more secure than an apartment (IMHO). 
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sweetpea View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sweetpea Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 12:01pm
Amythest ... that is a very good idea, and with what MIGHT be left, just add more supplies ...
"When an emergency arises, the time for preparation is past."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TNbebo408 Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 5:33pm
80K, dang and I thought I was set with 500 bucks hid in my truck??????
Don't blow your kids lunch money for things they may never need.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: March 30 2006 at 9:18pm
Let me give some encouragement about saving money. Yep, I have alot now, even after "purchasing" six adopted kids. Adoption wasn't cheap, even though 5 of my kids were handicapped. I stayed home 15 years to raise them, gave up my nursing career. We were thrifty. I clipped coupons,and bought what we "needed." Went to yard sales alot. Hair cuts by mom. No $25.00 fake nails, no cable TV, no new cars, a simple life, but a good life.

But MOST importantly we gave God His share and He has ALWAYS blessed us. : )

MK

    
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