Posted on 06/25/2013 3:02:39 PM PDT by Kartographer
#1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck. But most Americans are acting as if their jobs will always be there. But the truth is that mass layoffs can occur at any time. In fact, it just happened at one of the largest law firms in New York City.
#2 27 percent of all Americans do not have even a single pennysaved up.
#3 46 percent of all Americans have $800 or less saved up.
#4 Less than one out of every four Americans has enough money stored away to cover six months of expenses.
#5 Wages continue to fall even as the cost of living continues to go up. Today, the average income for the bottom 90 percent of all income earners in America is just $31,244. An increasing percentage of American families are just trying to find a way to survive from month to month.
#6 62 percent of all middle class Americans say that they have had to reduce household spending over the past year.
#7 Small business is becoming an endangered species in America. In fact, only about 7 percent of all non-farm workers in the United States are self-employed at this point. That means that the vast majority of Americans are depending on someone else to provide them with an income. But what is going to happen as those jobs disappear?
#8 In 1989, the debt to income ratio of the average American family was about 58 percent. Today it is up to 154 percent.
(Excerpt) Read more at theeconomiccollapseblog.com ...
I guess I am a Prepper.
I have paid off all debt. I have saved over 6 months of expenses. I have taken my 401K and Pension and put in the form of Self Directed IRA (cash) awaiting deflation to begin.
I thought we would see inflation first, but $85 billion/ month pumped into economy and not sign of inflation. Ask yourself where is the inflation? I have wondered and the only reason I can think of is that every dime is being used to keep GDP (+) with mostly government expenditures. Prices are stable due to govt spending, but wages have gone down. When Berneke rolls up QE version12 prices will follow to truly meet real demand. Not financed demand. The money is spent.
I want to be heavy with cash to buy assets for pennies on the $.
Call me a Prepper. I am not in a hole in the ground, but ya’ damn skippy that I am prepping.
#1 Most employed Americans receive their incomes directly or indirectly from government debt/revenues without producing anything useful.
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American — Land of the Free. Takes on a whole new meaning.
Scary facts...the amount of folks who’ve not saved or set aside much, and depend (up to 100%) on the gov’t, is unreal.
Got those too. I need to sort them and move them in there. Thanks for the reminder!
/johnny
If you have $1000 and no one else has money to buy goods the prices drop and your $1000 worth much more.
I’m not prepared for a disaster that is going to last for decades.
Me neither, but I want to be prepared enough to give me time to learn, adapt and over come!
Meadow muffins.
If you don't have the skills and the tools to obtain food, water, and safe shelter, your cheery attitude just lets you put a brave face on disaster. Attitude matters, but is useless without skills and tools.
/johnny
I think it will be Argentina++ and bouts of Mad Max.
Depends on the goods and the chance to replace it. Example you are half way across the desert you are out of water so you offer a traveling companion a $1000.00 for his lone canteen of water, do you think he would sale even at that price?
I had 6 months worth of expenses saved. A year ago. It lasted about 8 months.
Then what do you do?
At least I own this place, and can't be thrown out.
/johnny
/johnny
Until ‘Bama’ wants to build a gold course on your land. ;-)
I think having cash is important, but I would rather have barter-able goods such as canned food, bottled water, ammo, alcohol, medical supplies, and high demand everyday common items such as TP.
He who has excess TP will become a VIP in the coming apocalypse. :-)
On this topic, what do I do with all the bodies of looters that come onto my property to do me harm? Any suggestions?
I hope that it wipes John Morgan out financially.
Johnny claims they make Great hog feed, but I don’t know and I will not speculate how Johnny knows. ;-)
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