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Friday, June 1, 2018

The Next Crash



I started getting one of the early warning signs of an impending economic crash. Apparently, while I wasn't paying attention, local property prices have skyrocketed. When my new neighbor told me what he paid for his place, I thought he was robbed. Only later did I learn that it was in line with similar properties in the area.

The financial collapse warning sign, for me, is when my mailbox fills up with letters offering me money. My income is pretty static. I haven't gotten a raise in my retirement pension in many years. They aren't offering me money on the strength of my income. The offers are for home equity lines of credit. At first the offers come in from companies I've never heard of. Some of them are pretty sketchy. Later on in the process, offers start to come in from financial institutions that are household names.

We've reached that stage now. Offers from real brick and mortar banks are now appearing in the mail. That hasn't happened to me since sometime around 2008. Anybody remember what happened around then? The logical thing to do would be to take every dime I could get then disappear to a safer country far away. Things could get a bit weird here. Of course, I can't see how the collapse of an economy as big as the United States wouldn't affect the whole world. Maybe I'd better move to an island where the natives live on bananas and fish and make friends with the locals.

No doubt I'll just stick around and see how it plays out. At least I'll have a front row seat. Better stock up on popcorn.

-Sixbears

14 comments:

  1. Yeah, us old codgers have seen a few ups and downs. We'll either survive the next one or we won't. The latter case is a good reason to be right with Jesus.

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    1. The longer I live, the less I feel the need to panic.

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  2. and the doom sayers said the same about BIG OIL, which never happened, given alternative energy. Prices can go up if someone has the income means to buy, but then loses the job to pay the bills. Are we speculating that there will be massive unemployment soon? Or are we speculating again that the stock market will crash, given the steel industry tariffs on all manufacturing will cause massive layoffs in that business?

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    1. I'm not saying how it will play out, just that there are danger signs. How crisis unfolds also depends on the reactions of governments, business, and individuals. Emotions also play a part and classical economics deal poorly with variables such as that.

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  3. Charity boats and more has a 1990 caliber custom on ebay that's ho reserve.Looks like a 33'.

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    1. Thanks for the heads up. I don't normally shop for boats on ebay, so I probably miss some deals there.

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  4. well, that is unsettling.
    you are not an alarmist ,unlike so many chicken littles.
    makes your word more worth attending to.

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    1. It's a warning sign of trouble ahead. However, there's no telling how it will play out. Wiser heads than mine could find solutions. At any rate, it's a reminder to check your preps. As for myself, I'm putting up more firewood than in the recent past.

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  5. I'm with Deborah. When you observe something I take notice. Thanks for your insights.

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    1. I'm certainly not trying to scare anyone. It is a good warning to look at our personal situations and examine how we are squared away.

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  6. Sounds about right, I see it coming as well, I'm just glad (and blessed) to be in a place where I have so few bills that I don't need much to survive :)

    I'm back in the blogging business :)

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    1. Welcome back, Wretha! Glad you are back blogging. So many of the old blogs are gone.

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