Galvorien52
Stafford MO
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Joined: 02/06/2007
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Hard to say for sure but I think some of the people who would know would be those who weathered the Great Depression. I'd like to hear from some of them as to their thoughts on the subject and what really happened during those years. I know that some made money - some always make money! - but with the nervousness of the markets right now I think the retelling of their stories would be most interesting. I strongely suspect that our vagabond life will come to a screeching halt (that sound you hear is me crying!) and the people most able to weather it will be those like Mrs. Mik!
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Doug4.7
Hartselle, AL, USA
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Joined: 10/02/2003
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grant135b wrote:Now comes the Devil's Advocate -
This is like deja vu all over again. Shades of 1987...
Overall, this situation, too, shall pass. Very good point. This all does seem familiar. I keep thinking of Penn Square Bank and such.
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Kajtek1
CA
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Joined: 12/04/2002
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I don't know about 1987. This was the year when I was buying my first CA house with market going steady 14% up every year and had good paying jobs.
For me the dollar loosing it value daily is the deja vu of communism.
Pessimist sees dark tunnel, optimist sees a light at the end, realist sees lights of coming train.Engineer sees 3 idiots on the tracks.
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Wrace
Seattle WA
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Joined: 09/03/2002
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I think keeping a couple K of cash on hand is a prudent thing to help get through short periods of economic/banking interruptions. It is usually better to have more options rather than fewer options, and the relatively small amount of "interest" I'm losing on that money as an investment is not outweighed by the comfort of knowing it is there.
Having some cash in the safe at home also allows us to jump on any craigslist deals we may come across without having to bother with the bank right away.
Similarly, we carry "some" cash with us while traveling as well. Again, more options rather than fewer options. I accept the risk of theft/lose of the money and feel it is worth the trade off. If you don't feel comfortable carrying it on your person while rving, they make a number of quality small safes that can be hidden and bolted down inside your rv.
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baldag
Chattanooga Tn
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Joined: 09/18/2006
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If the economy collapsed, the most important things would be;
1) A safe hideaway
2) A supply of assault weapons and ammunition
3) a supply of non-perishable foodstuffs
4) A supply of medicinals and antibiotics
5) A supply of trade goods
6) Vegetable seeds
7) Playing cards and a Scrabble game
George
"I was cut out to be rich, but I got sewed up wrong"
2006 Dodge Ram 2500 QC Laramie 4x4 SB CTD auto "Buck"
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jcapps
Not a senior just a
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Joined: 08/18/2004
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baldag wrote:If the economy collapsed, the most important things would be;
1) A safe hideaway
2) A supply of assault weapons and ammunition
3) a supply of non-perishable foodstuffs
4) A supply of medicinals and antibiotics
5) A supply of trade goods
6) Vegetable seeds
7) Playing cards and a Scrabble game
George
6 out of 7 ain't bad.
"The great challenge of adulthood is holding on to your idealism after you lose your innocence."
– Bruce Springsteen
"This ain't the practice round"
- a friend
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coolbreeze01
Redding, Ca
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Joined: 08/24/2006
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Nothing wrong with cash, however, remember the family in Kansas that was wiped out many years ago because of a rumor they had money at home?
All I am saying is, don't advertise your cash stash.
2008 Dodge 3500 CTD LB SRW 4X4 6-Speed Auto
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dave Stringham
I was hoping you'd know, California
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Joined: 07/13/2005
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I dont think you are going to hear from a lot of people who actually lived through the great depression....My grandmother (who is 97)lived through those years.......from that day on, she kept a lot of chickens and grew her own food and canned everything she grew in case it ever hit again and the family had to come home to eat....she didnt even have bed frames.....mattresses sat on boxes of food she canned..
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Wrace
Seattle WA
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My mom and dad lived through the depression and my mom in particular was very frugal and very distrusting of financial institutions as a result. She had money in the banks and other mainstream investments but she also had "rainy day" money in a safe deposit box and in her home. She told me about the safe deposit box before she died but after her death we found cash that was hidden in various places in the house, like inside of books that were on the book shelf and such.
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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Very few of the high-rollers in debt up to their ying-yang's have much cash anyway. They could not care less since everything they own is owed on and financed.
Cash is king. When was the last time you had to buy gasoline or water with gold coins anyway? ....I thought so.......
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions. 
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