I’m no longer worried about another Depression. We’re already there. The fear is gone, now it’s just a matter of dealing with the consequences.
Looking at this from a historic viewpoint, I would have to say another world war was in the offing.
We already knew we were at war, but have been denying the reality of it.
We readied for the consequences two years ago when we set on a course to become debt free. In June we will be there.
Also, we changed our buying habbits, especially for food. We started buying in lots when food items are on sale (non-perishables). That has saved heaps of money.
No but wait! We must see two quarters of negative growth! My small pharma marketing business forecasted $90k in January factoring in poor financials. We did $56k. For last month, we forecasted $130k. We did $34k. I can’t keep people on staff and will shrink from 11 employees to four. Can’t get an increase on our LOC, our back is close to insolvent, but is feeling Central Bank bailout may help. Yeah right. Your right, we had better get used to depression, because the economy must contract A LOT MORE to even have foreigners buy up the land. We’re going to have a role reversal where our China, India and EU nations use the U.S. to outsource and begin putting manufacturing plants here. That will help at some point but we will be a 2nd class nation for a decade before we have created our own energy supply and fixed the financial mess. Sad, so many responsible Americans go broke while so few become fab wealthy. I guess I will drive one of their cars or dig in their gardens one day to eat. Just like a Mexican, but they will get government freebies and be actually earning far more in net income.