Ms Doom and Gloom
Ok, I know I'm Ms Conspiracy Theory, but now I'm adding Ms Doom and Gloom to my title. Now I have mixed feelings about putting this out here. The simple fact is that the health of the economy really is partly in our heads. Problem is, if I don't give a head's up to the people I care about, and what I'm worried about happens, I'll be responsible.
So, here goes...
Our economy is in trouble. Duh.
It is probably worse than you think.
Remember that bailout? Well, we didn't have the money for that, so guess how the government is paying it? We're printing money. And it wasn't just that one 700 billion dollar bailout, there has been at least one more 42 billion one I know of, and there may be more. Now, here's where it gets ugly. As the government prints money, the value of the money goes down. The more that's printed, the worse it gets. This is called hyper-inflation. That would be a really bad place to be, think Wiemar Republic... Another key thing to know is that pulling your money out of the bank in large amounts would make it worse. The government is insuring our money through FDIC. With qualifying accounts in set amounts, through the FDIC, the government will make sure you get your money back, but there is only a limited amount of cash in circulation. The more people pull out money to put under their mattress, the more the government has to print, the worse the inflation will get. So for the love of God, please don't do that.
I don't have much to offer as to how to prepare. I feel extremely unprepared.
We are choosing to store some non-perishable food, buying good quality clothes that we need anyway, but I don't have answers.
I will add some links here from one of the sources I've been listening to. I will tell you up front that he is conservative, so there is no surprise. You may agree or disagree, but it's the information I have.
Glenn Beck- What Happened?- http://www.glennbeck.com/content/articles/article/198/16171/?ck=1
Glenn Beck- What's Coming?- http://www.glennbeck.com/content/articles/article/198/16278/?ck=1
Glenn Beck- What Can I Do to Prepare?- http://www.glennbeck.com/content/articles/article/198/16799/
All I can say is: Be aware. Be educated. Be frugal. Be calm.
Love,
Sarah Conner ;)
So, here goes...
Our economy is in trouble. Duh.
It is probably worse than you think.
Remember that bailout? Well, we didn't have the money for that, so guess how the government is paying it? We're printing money. And it wasn't just that one 700 billion dollar bailout, there has been at least one more 42 billion one I know of, and there may be more. Now, here's where it gets ugly. As the government prints money, the value of the money goes down. The more that's printed, the worse it gets. This is called hyper-inflation. That would be a really bad place to be, think Wiemar Republic... Another key thing to know is that pulling your money out of the bank in large amounts would make it worse. The government is insuring our money through FDIC. With qualifying accounts in set amounts, through the FDIC, the government will make sure you get your money back, but there is only a limited amount of cash in circulation. The more people pull out money to put under their mattress, the more the government has to print, the worse the inflation will get. So for the love of God, please don't do that.
I don't have much to offer as to how to prepare. I feel extremely unprepared.
We are choosing to store some non-perishable food, buying good quality clothes that we need anyway, but I don't have answers.
I will add some links here from one of the sources I've been listening to. I will tell you up front that he is conservative, so there is no surprise. You may agree or disagree, but it's the information I have.
Glenn Beck- What Happened?- http://www.glennbeck.com/content/articles/article/198/16171/?ck=1
Glenn Beck- What's Coming?- http://www.glennbeck.com/content/articles/article/198/16278/?ck=1
Glenn Beck- What Can I Do to Prepare?- http://www.glennbeck.com/content/articles/article/198/16799/
All I can say is: Be aware. Be educated. Be frugal. Be calm.
Love,
Sarah Conner ;)