Originally Posted by slsurface
organicmommy, my father died in 2007 at the age of 57. Two years before he died, he predicted that we were going to see a period of marked DEflation in the next 20 years. I agree with your assessment and my late-father's. We cannot sustain the sort of growth that was seen in the last 30 years. Everything will have to be re-set to lower wages and lower costs. But it's going to be a painful transition. Those of us with homes and investments stand to loose a lot in the process. But the upside is that there will no longer be 1st world and 3rd world nations...we'll all have be on the same page. The problem is this means a reduction in the standard of living for the former 1st world nations. This is what scares people. We are standing at the threshold of history. We, all humanity, just have to make the leap towards greener, more sustainable, and less wasteful society.
I agree it is going to painful for most if not all of us. Even those that don't have a lot in stocks and the market or other investments are going to feel the pain. The economy scares me every time I watch the news, read the internet, it doesn't matter. It has hit us at home lately, the factory dh works at recently went to 4 8 hour shifts for most of the plant. We have been able to hold our 5 days but who knows how long that will last. Our tax refund has gone to savings and to purchasing things that we were needing for our garden this year. We will also be getting 2 beef cows to add to the farm, we normally let my parents raise them up, but this year we will be adding 2 more so that we are all sure to have enough beef. We will be getting more broiler chickens in the spring and will be getting our layers as well. We don't own our home, we rent an awesome farm with an awesome landlord that lets us use the land to live off of as well. As long as we can pay our rent I know that our home will be safe as we pay the mortgage on here with our rent and about 50.00 more on top of it. So if he was going to not be able to keep it due to other things we could take over on that.
We are very fortunate in some areas and very scared in others. I can do a lot canning and preserving of our food. I can and do sew a lot of things as well. So as long as I can get supplies we will be ok. If that becomes a problem then all bets are off.
I hope that everyone is able to weather the storm, but it will be a strong one.
Another thing I really wish would happen is that the media would stop feeding it. Its like a big green monster, its eating up all the negativity and then burping out the worst of the worst. I want to see things turn around tho I don't think things will ever be the same as they were in my life time.