What do you do to prepare for a financial meltdown now?

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 787

There are so many threads about financial meltdown in the next week(s).
I guess in Australia we'll have some weeks more.
But what are you doing right now?
Until now we did everything to pay the mortgage down very quickly, but maybe at the moment may be better buying some stuff which will be unaffordable in future? We usually do not have lots of cash at home.
What do the board members outside of the USA expect/prepare?

americandream

Nothing. What can one do?
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Bugger me, I hear oil's runnin out mate!

wisconsin_cur · Moderator Joined: May 10, 2007 Posts: 2918

If it is happening today than there is nothing to be done but watch... and enjoy that expensive imported beer/wine in the fridge/cellar... it is the last you'll see for a while.
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"Against stupidity the gods themselves contend in vain."
-Friedrich von Schiller

grommit

"Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable."
John Kenneth Galbraith

vision-master

killJOY · Fission Joined: Feb 21, 2005 Posts: 2471 Location: ^NNE^

It's just another day for us hoi-polloi.
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"By the time individuals discover that remaining resources will not be adequate for the next generation, the next generation has already been born. " David Price

aflatoxin · Heavy Crude Joined: Jul 31, 2005 Posts: 256

I'm gonna have a brew, pop some popcorn, and sit in my treehouse.

wisconsin_cur · Moderator Joined: May 10, 2007 Posts: 2918

ReverseEngineer · Intermediate Crude Joined: Jul 16, 2008 Posts: 746

alokin · Intermediate Crude Joined: Aug 24, 2007 Posts: 787

eastbay

BigTex

Something to think about too will be the tight gas supplies the next few weeks combined with whatever fallout there is from Lehman and co. falling apart.

High gas prices have a way of upsetting people and could compound an already bad situation.
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Smile

eastbay

DantesPeak

A huge drop involuntary drop in oil demand by US refiners, at least twice as much as the fall in GOM oil output.
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It's already over, now it's just a matter of adjusting.

Jack · Dark Lord Joined: Aug 11, 2004 Posts: 5064

catbox

Well...we have lot's of food in storage and a good water supply....that trumps the money we have tied up in the market=nothing!

Here's an old Lee Hazlelwood tune set to a short film....kind of fitting:

My Autumn's Done Come
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President Bush: “There’s no question about it. Wall Street got drunk—that’s one of the reasons I asked you to turn off the TV cameras. It got drunk, and now it’s got a hangover."