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9 comments:
I think that it is scary. I feel that this could be the beginning of the end. HOWEVER-people are freaking out. I get probably 2-3 emails a day about how everything is going downhill and before we know it we will be in bread lines and things like the dust bowl will be back. My point is I feel that the world is a scary place. But we just have to put our head down and press forward. Don't become overwhelmed with all the "hype" of the econonmy. Be smart. Get food storage and invest in things you feel necessary. But don't freak out.
I agree with the above post, in part. We need to be prepared. We need food storage, we have been told that from prophets as far back as I can remember. It is always good to be prepared for the worst. I don't think that this is the begining of the end. Since the time Christ assending into heaven over 2000 years ago saints have thought the second comming is just around the corner. Yes we could go into a depression, yes christ could come next year, and we need to be prepared for it. But, I think if we elect the right guy for president, the economy will turn around. We need to prepare for the worst but live for the best because if you don't life will just slip by and you will have missed it worrying about what is around the corner.
I worry sometimes about the economy as well. But all we can really do is be prepared for the worst and hope for the best. Have food storage and money saved up, and get out of debt if you have any. God only knows what is going to happen but if you are prepared you have no reason to be afraid.
Part of the reason the economy sucks right now is because the media has everybody freaking out, and so people have quit spending like they normally do. That means stores/businesses are making less money, which means they are firing employees left and right, which means each of those families have less money to put back into the economy, which perpetuates the cycle. The best advice I could give would be for everybody to quit freaking out and just spend like normal, and continue investing in the stock market, or whatever you used to do. Be smart with your money, of course, but don't pull your money out of the economy and make things worse. I hate the media by the way.
Amen to the last post! The MEDIA does not help one bit. On one station you have people saying its starting to go up hill and on the next station you better get your self a bunker! People need to not panic and we will get through this...
Seriously!
The comment at 12:16 said it perfectly. Everyone who's letting fear control their actions is only making the situation worse!
The economy is only technically in a recession if it has 6 months of negative growth. It hasn't had that yet. The last time it had that was during Bill Clinton's last year as president.
That said, there are a ton of people I know who are going through some hard times. And the stock market roller coaster isn't helping people's confidence, as well as the media.
I think the best thing you can do has always been counseled by wise leaders: Spend less than you make, pay off your debt as quickly as you can, have a storage of food as well.
My husband and I have always been thrifty, but we continue to be more so. We are building up a food storage, as has been instructed by leaders of the LDS church. We are also continuing to invest in a mutual fund. We're not really doing anything different than we normally would - we just think carefully about purchases we make.
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