But if you have that $100k in the bank, and you could do one of 4 things with it 1) leave it there and hope for the best, 2) take it out and hide it under the mattress, or 3) pay off a mortgage that's at 3.5% --- what would make more sense? The other option I guess would be to buy real estate now, even though it's high and will probably take a nose dive, but will likely come back eventually.

An economic collapse like the depression sorta happened all at once, while this coming recession, assuming there is one, is going to take place over a longer period you would think, so a guy would have time to react.

Seems like most of you are talking about a SHTF scenario when I think we'll have more like a 2008 scenario.

Wish I could see the future.

obviously pay off mortgage if you purchased that property before the costs for property went thru the roof.

then borrow an amount you can easily pay the payments on and but some survival/barter items....

in 2008 when the housing market fell I went to the courthouse. Asked how much my property valuation would be lowered for property taxes. You woulda thought I said I was going to BBQ their dog. One worry I have is that inability to pay taxes was how so many landowners lost everything at the end of the civil war. When real estate prices plummeted I did not get lower taxes.

My grandfather raised a family. 5 children. Bought a second farm after the 1929 crash. The simple solution for you younger people. WORK!!! SAVE!!!!! And work some more.!!!!! That’s how you stay ahead from getting behind.

About 20 years ago I read a book about "The miracle of compound interest" and it was all about work and save. Unfortunately it's basically meaningless these days.

I agree. Nobody wants to work or save!!!!!!!! They feel they will be taken care of. By who?? That is the ????

Today, it's all about living the dream. People are living for "now" not the future. After all, the world will be ending soon so there is no reason to save for a future that doesn't exist. Unfortunately, for those folks, the world is not going to end in 5 years and they will all be broke and homeless. PPP - Pee Poor Parenting!

OF COURSE SPENDING IS UP!!!!!!! Eggs are almost 6 dollars a Dozen and Gas has DOUBLED!!! DO THE MATH!!!

I get so tired of this saying . Dollar value you see on financial news is exchange rates or inflation adjusted value.
Your dollar is your worth based on what you can buy things for. Not talking about new off the shelf stuff. You find a side by side owner is hard up for . It looks new , low hours . You pay 4,000 for a 10,000 dollar item because you HAVE THE CASH . Keep it or resale it fir 6,000 either way your DOLLARS are worth more ! Because you have them ! How do you calculate the dollar value in that case?

I yell this at Brandon each time I’m too slow to change the channel and here him mumble this

I would say J B but that is considered profanity but someone has to come to their senses and acknowledge just whatnthey have done to this country. Butt Boy Pete has deliberately raised the price of Diesel in some places TRIPLE and wonder why the price of EVERYTHING has DOUBLED!!! Those Trucking companys just pass it on to the Consumers.

Inflation, open boarderS, selling off of our security, fraudulent elections…we speak of foreign invaders but we don’t recognize (as a whole) our adversary’s sit in position of power and have sold their soul for profit and power. It took 3% to start the freest (and our fore fathers died for) nation the world has ever seen but apathy has taken its course and now we see Rome burn.
That’s my take on things and if your option is different that’s fine but I lived long enough not to be concerned with your option, to be honest I‘d tell ya to grab a spoon and eat my….

The last time inflation got like this was in the Carter presidency. It was a double whammy. Interest rates were so high there was no home construction jobs. Unemployment was at almost 10%. Fur market was good though. All you end of the worlders we been here before. Pretty good bet we pull out of this one too.

I’m not as optimistic Danny, when Carter was in they still taught economics in public schools. There’s a generation out here that thinks quite differently now.

I never bothered to go to high school much even before I went to work at 16 but I dont remember any economics classes?

Girls had home economics where they learned how to balance checkbooks, create a budget, cook clean and sew. We just called it home ec. If thats what your talking about.

No. You should have stayed past the 9th grade. lol

And you wonder why nobody cares about government debt.

This is nothing like the late 70’s early eighties. Unemployment is 3.4 percent and “we are hiring” signs are everywhere. Unfortunately the labor shortage will continue to cause wage push inflation. Interest rates have finally been normalized and hopefully people can get used to normal interest after 13 years of ridiculously low rates.

Lots of hiring signs out there but they seem to be looking for young people with low expectations of pay and benefits. I have a great job but have been looking for something close to home. To get that the best I have found In 5 years of looking had $360 dollar a month increase in health insurance cost for lowered quality coverage than I have now, and a 30 to 40k pay cut for me. That plant also had one primary customer and thaey made pigment for the paint at home depot. I am willing to take a 20k pay cut but want to be able to save and not change the family lifestyle to drastically. And I was not comfortable being the new guy in a place that's main customer is retail home improvement sales when interest raises are climbing, inflation is crazy high, building is slowing and we are heading for a recession. So I declined that offer though reluctantly becuse I want to be home every day.

Everyone hiring around here does not want to great employees just a body to fill a hole otherwise they would have packages to attract the best out there and even pull them from other companies.

Companies didn't offer Health insurance, pensions, and vacations just to be nice it was to attract and retain their trained employees. Now it seems they lost sight of the benefits of the 30 year guys running and training the production lines. Instead they want a fresh collage grad with zero experience and a chip on their shoulder thinking they are special and their degree means more than 30 years experience.

It's a sad state of affairs all around.