Economic outlook

[ApatheticNoMore]

I find the predictions are many things that are already happening or near so. The layoffs, the small business closures, the rich not spending (it is where spending is down, it's not poor people whose spending has gone down), the local governments crunched for money.

But I just find the suggestions dubious, put all one's money in cash? Really? Eliminate debt? I don't know if housing prices go down an equally good case could be made for taking out debt to buy. I don't carry or even cosider the possibility of other debt unless I was forced into it by circumstances (which actually is how much debt is acquired - medical debt etc.). Gold and silver, have some if you want as a sort of diversification play, but how much good will they really be.

[ApatheticNoMore]

I saw you wrote elsewhere that money spent on keeping all these old people alive could solve much of the global starvation problem.
Guess what? If tomorrow I get Covid and end up at the ER, I could be deemed too old to treat. Don’t think for one minute all the money saved will end up helping anyone starving in a third world country eat.

the starving children in the 3rd world are being thrown in because yeppej has obviously lost the argument in any data from any modern countries or even in the U.S. (un-developing country that it is). Prioritizing the economy over the pandemic was a false dichotomy that saved neither. The U.S. economy is suffering. But China's has GDP growth again. They dealt with the pandemic far better.

And starvation NEVER needs to happen in the U.S. EVER, just give people food or the money they need to buy food period. I mean it could be said it never needs to happen in the world ever, but it's more complex. Starvation isn't an issue anyone should be worrying about in the U.S. it's completely unnecessary always.

[sweetana3]

It is not a popular idea but I believe in "balance in all things". Rushing from one extreme to the other is a quick way to crash and burn. We have always balanced our investments, really tried hard to live at a lower standard of living, kept debt to an absolute minimum, learned to do things ourselves or keep it simple so loads of repairs are not needed.

[razz]

It is not a popular idea but I believe in "balance in all things". Rushing from one extreme to the other is a quick way to crash and burn. We have always balanced our investments, really tried hard to live at a lower standard of living, kept debt to an absolute minimum, learned to do things ourselves or keep it simple so loads of repairs are not needed.

I agree. The simpler life can be, the less maintenance in time and cost.

I just sold my 7-year-old riding mower that I had needed on our farm and also used a lot as I landscaped my urban yard hauling stuff to the back. That landscaping part is now complete. I bought an 21" electric mower, cordless with 2 80V batteries.

[Tybee]

I would hate to get rid of my riding mower. In addition to mowing, we just used it to use massive brush cut off of the maple tree, and to remove a giant limb from the roof.

[iris lilies]

We are new to the world of riding mowers after 30 years using push mowers. We now have 1 acre in Hermann so of course we need a riding mower, but we also need it to haul buckets of mulch and compost down the hill to the Iris beds and other landscaped islands which will only get bigger as time goes on.

[SteveinMN]

It is not a popular idea but I believe in "balance in all things". Rushing from one extreme to the other is a quick way to crash and burn. We have always balanced our investments, really tried hard to live at a lower standard of living, kept debt to an absolute minimum, learned to do things ourselves or keep it simple so loads of repairs are not needed.

Here, too. I don't see where many of the remedies prescribed (move to all-cash and precious metals, etc.) are helpful or necessary. While our economic systems are quite complex, many people have bought into them (figuratively and literally) and -- for better or worse -- steps will be taken to preserve status quo. Not saying there won't be more damage or that it will be kind to anyone but the ultra-rich (even that may change). But I am not planning for some Mad Max post-apocalyptic world or even an Ayn Randian world. There's too much wealth in the world at stake to devolve to that and too much of a need for "little people" to make all that happen.

I do think there are things we can do to smooth out bumps in life (have a sum of cash in the house, keep the pantry full, stock TP and some disinfectant and first aid stuff, move up prescription refills if you can, maybe grow/preserve some of your own food, etc.). We'll do that. But doomsday prep; not for us.

[Teacher Terry]

No doomsday prep for us either. What we do in the states isn’t causing kids to starve in other countries. We had a acre in New York so had a riding mower. Now we have a low maintenance city yard which we love.

[frugal-one]

I find the predictions are many things that are already happening or near so. The layoffs, the small business closures, the rich not spending (it is where spending is down, it's not poor people whose spending has gone down), the local governments crunched for money.

But I just find the suggestions dubious, put all one's money in cash? Really? Eliminate debt? I don't know if housing prices go down an equally good case could be made for taking out debt to buy. I don't carry or even cosider the possibility of other debt unless I was forced into it by circumstances (which actually is how much debt is acquired - medical debt etc.). Gold and silver, have some if you want as a sort of diversification play, but how much good will they really be.

Yeah, not all money is converted to cash. Did do enough though to last our lifetime if lived frugally. Scary thought.

[catherine]

We are new to the world of riding mowers after 30 years using push mowers. We now have 1 acre in Hermann so of course we need a riding mower, but we also need it to haul buckets of mulch and compost down the hill to the Iris beds and other landscaped islands which will only get bigger as time goes on.

A riding mower came with the house in VT, and we do need it because although we only have 1/4 acre, we share the mowing of some of the joint property which is an acre in total.

That mower was an ancient Poulin, and we used it our first and second years here but it was like beating an old mare to get the. job done. DH finally replaced it with a used Cub Cadet. He LOVES that thing. It's ridiculous. Like IL, he also uses it to cart stuff. Sometimes he'll cart things to the truck that we can so easily just carry by hand, like two bags of garbage. But he loves his toy!