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Red Flags for a Looming Crisis - PART 5

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Starting another edition of this thread...

 

dance

 

 

It's always a fascinating read... and makes me think twice when my "intuition" kicks in.

 

 

Link to Part 4

 

 

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Went shopping this afternoon for a few clothes for DD for school. The mall looked like a ghost town compared to most weekend days. There were still people there, but not nearly as much as usual.

 

Also noticed a difference in my own family members. We only bought what was needed and there was really no one asking for anything else. DD put back a t-shirt she would have liked to have but said she didn't need it. Believe me, that is a red flag! smile

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DH heard an ad from a local car dealer today saying they are taking $15k off the top of the price of any truck they had in stock. That means a $30k truck would sell for $15k.

 

 

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Originally Posted By: Simplegirl
Went shopping this afternoon for a few clothes for DD for school. The mall looked like a ghost town compared to most weekend days. There were still people there, but not nearly as much as usual.

Also noticed a difference in my own family members. We only bought what was needed and there was really no one asking for anything else. DD put back a t-shirt she would have liked to have but said she didn't need it. Believe me, that is a red flag! smile


I went to Costco yesterday afternoon and it was way more empty than it should have been for a Saturday afternoon. No problem getting a good parking spot, they only had 3 checkout lanes open (and the lines were NOT long), and it was just too quiet.

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Originally Posted By: MommaDogs
DH heard an ad from a local car dealer today saying they are taking $15k off the top of the price of any truck they had in stock. That means a $30k truck would sell for $15k.



Wow! just wow....

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A friend didn't make it to church this morning so she had it on TV, the precher was talking about stocking up because of food rationing.

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I just got back from a conference in Orlando. Coworker and I had a little extra time and took off to site see. I remember when we took the kids several years ago at this time that there were line outside Ripleys Believe It or Not. I saw NO lines. We went to Sea World...again NO lines. What I DID notice were a lot of folks visiting from England and other countries. Not alot of Americans vacationing...didn't seem.

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In the wee hours of the morning this morning I woke up and watched a few minutes of T.V. It was a preacher talking about food rationing also.

 

Last week I took the kids to the dentist and while there I had to make one follow up appointment. They got me scheduled in immediatley for this week. This is very odd because it is a pediatric dentist so alot if not most of their patients are on medicaid, I made a comment to the receptionist and she said that it is very quiet and has been. She said something about maybe people will come in once school starts but the price of gas is becoming a problem to even get people into the dentist.

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I saw this on another group I frequent. Basically, this recession is going to deepen.

 

This is from today's TimesOnLine British newspaper,

http://www.timesonline.co.uk/tol/comment/c...icle4326794.ece

 

(quote)

From The TimesJuly 14, 2008

 

This recession could easily tip into a depression

 

The experience of the 1930s makes me think that the present downturn

will be relatively long and difficult

William Rees-Mogg

 

(snip)

 

The present recession has some characteristics which make me think

that it will be a relatively long one. The recession is centred on

banking and property. In an ordinary recession, one has to wait for

consumers to regain their confidence, which, in turn restores the

confidence of business. Now one has to wait for the bankers as well.

At present, banks are too anxious even to lend to each other, let

alone to expand consumer credit or business loans.

 

This recession has produced a succession of nasty surprises. Things

are always proving to be worse than anyone had expected. Last week the

crisis spread to the American mortgage giants Fannie Mae and Freddie

Mac, created by President Roosevelt in 1938.

 

These are far bigger than the investment bank Bear Stearns and

Northern Rock put together. They have brought the crisis from the

level of billions of dollars, to the level of trillions. No doubt they

will be saved because the US would be bust if they went down. But you

cannot save six- trillion-dollar institutions without suffering on a

large scale.

 

The debt crisis, the banking crisis, the property crisis, the oil

crisis, the shift to Asia, the bear market in stocks, are huge global

adjustments that have all come together at the same time.

(snip)

(unquote)

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tinfoil Better get everything ready. We are headed for a bumpy ride it seems.

 

I know we talk about this all the time on Mrs. Survival, but before the last couple of months I guess I didn't WANT to believe it would really come to pass. And honestly I am not scared for my own family as far as how we will survive because we have the tools and the knowledge to do pretty well with my extended family all mostly closeby. But, there are so many others out there who still seem to have very little clue as to what they will be facing. I am more afraid of those people once they get desperate as they undoubtedly will.

 

I guess it really is starting to hit home.... very hard.

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http://www.cnn.com/2008/US/06/20/redcross.money/

 

WASHINGTON (CNN) -- For only the second time in its 125-year history, the American Red Cross has borrowed from banks -- this time, to provide services for the victims storms and flooding in the Midwest.

Red Cross volunteers sort donated clothing for flood victims at Prairie High School in Cedar Rapids, Iowa.

 

 

"We anticipate right now we will need in excess of $15 million to cover the cost of the last six weeks of storms," spokeswoman Suzy DeFrancis said.

 

The agency said it has 3,500 personnel in the Midwest to help flood victims and has been providing food, counseling and cleanup kits to many people who have been forced to flee their homes.

 

The last time the Red Cross borrowed money was in 2005, when it took out $480 million in loans from banks after Hurricane Katrina.

 

But the agency paid off that debt with more than $2 billion in donations from the American public, and it is counting on the generosity of Americans once again.

 

"I think when they understand the need and how great it is in the Midwest, particularly for these people who lost everything, that they will continue contributing to the Red Cross," DeFrancis said.

 

The slow economy has resulted in lagging donations, the Red Cross said. But one critic said the charity is struggling because Americans don't believe that it is spending its money judiciously.

 

"I think Americans have come to doubt the Red Cross' ability to spend their money wisely," said Paul C. Light, a professor at New York University's Wagner Graduate School of Public Service. "And Americans can now give directly to disaster through the Internet through much smaller organizations that are locally based, and I think that's where the money is going. They just don't have confidence in the Red Cross anymore."

 

The Red Cross has had its share of problems. It has gone through five CEOs in six years. The last one, Mark Everson, resigned because he was having a personal relationship with a female subordinate.

advertisement

 

"There's not only been a lot of turnover at the top, the Red Cross just sliced off a huge number of headquarters personnel to try and flatten the organization," Light said. "There's a lot of unease in the organization."

 

DeFrancis said that although the Red Cross has had its troubles, Americans still see it in a favorable light.

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Wow, when people can't even donate to the Red Cross, times are getting bad indeed!!! YIKES!!!

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I know most of you are animal lovers, in the paper yesterday they said that the shelters are bursting at the seams. People are bringing them in or just leaving them to fend for themselves.

Can you imagine leaving a dog in a fenced yard and just leaving. That is what some people are doing.

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This morning my co-worker comes into my office and asks me about vegetarian meals. We start talking and she says she's decided no more roasts, no more huge steaks, and they're going to have vegetarian meals 2 or 3 nights a week. She's freaking out over grocery prices. I mentioned what the UK government said, and the strikes in Spain and said "If it's happening in Europe, then I think we could get food disruptions here too." Her response? "Oh, I know we're going to have food disruptions." So I told her I am working on stockpiling a 3 month supply of the food we eat on a regular basis, buying 3 or 4 boxes of cereal each week, etc, and she said that this was an excellent idea and she's going to start doing that now.

 

Amazing. I never would have thought this woman would be even slightly interested in prepping.

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My DH told me today that they are looking for a big layoff and 6 mos. or so possible a shut down where he works. BF Goodrich tire plant! This is the plant thats biggest contract was the Hummer tire that is gone now. This is the first time this rumor has come up except at contract time. Scares me. We only have 5 years left and our house would be paid for and he was planning on taking an early retirment. Now we have to worry if he'll have a job 6 mos.!

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Aw man, Kelly! That's ROTTEN!

 

Well, you have 6 months. You can save every penny, you can slash every conceivable expense for the next 6 months, to get ready. So, horrible though that news is, at least you have some warning.

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kelly, I'm sorry. Cowgirl's right -- try to look on the bright side. At least you have warning. Act now, and your family should be okay.

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Kelly,

Having a notice is good, and we can hope that they get another contract soon. But in the mean time, you can plan now. Just know we are all here for you.

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Tracie, that is interesting that that the lady in your office knows about food.

My Boss has an Aunt that he has been trying to get to have extra food in the house for years and last month she told him out of the blue that she is buying extra food each week.

I think the news media is putting food stories out there a lot now and some people are paying attention. I think it just takes someone saying something to make them think.

The problem is we know what to do because of research or knowing someone who does food storage. And when you start it is a big job just to figure it all out.

I have been doing this for several years and I am still learning.

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I posted this in the walton thread, but I'll mention it here too. THe driver said they can't get enough food to fill all the orders. A load of rice he took was never carried into the building, but distributed to customers from the tail gate. He said they have been extremely busy trying to fill orders.

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Originally Posted By: BiscuitMaker
I know most of you are animal lovers, in the paper yesterday they said that the shelters are bursting at the seams. People are bringing them in or just leaving them to fend for themselves. Can you imagine leaving a dog in a fenced yard and just leaving. That is what some people are doing.


This is so very true. Last Thursday, my husband found a 3 month old kitten IN THE WOODS, about 10 miles from remote civilization. Someone had to have dumped her. It was a miracle we found her when we did. Another day and she would have died. We ended up taking her in. I cannot understand how someone can THROW AWAY an animal....

Now Maggie our miracle cat has had a bath, is now minus the fleas, and is quickly adjusting. Still very skinny, she is slowly growing. She has no desire whatsoever to run outdoors. :)Attached is a pic.

1152-Maggie3.gif

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As bad as it is that people are dumping animals I think that before it is all said and done the same thing will start happening to children as well as with people with disabilities. I think it is just a matter of time.

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Red flag for me for today:

 

DH went to the bank to make a deposit. We know the manager, because we've been going there for almost 7 years and they have helped a lot with some things. Anyway, bank manager tells DH that Matt Lauer sais something this morning on the Today Show and when the bank opened, they already had a line of 30 people waiting to get in, and it continued for quite a while that way. By the time it was over, customers had withdrawn over $750,000 and closed their accounts. Mind you, this is not a large branch of the bank, and one of two branches in this town.

 

We found it scary that just because someone says to go withdraw your money, that everyone does without question. Their mortgage side is not doing well, but their retail and personal banking side is doing fine.

 

DH and I have decided that we will only deposit what we need to cover bills for checks or debits we do that week. Everything else is going to have to be cash, for now.

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I went to Walmart tonight to get a couple extra table fans. Fans are my weakness. I can't sleep without one and I can stand a lot of heat if I have a fan blowing on me.

 

Anyway, they had one row of fans and one row of heaters. I guess all the talk of high heating prices this winter has spurred people to start buying the small electric personal type heaters. I've never in my life seen new heaters for sale in July. This is a small Walmart. Not much bigger than a regular K-Mart.

 

I also noticed they had a lot of new shelving. Some of it was the metal kind but most was the plastic stacking kind. This Walmart has never had the plastic kind except for the small units for a bathroom corner. And all of the different packaging had pictures of food being stored on the shelves.

 

I hope people are starting to take notice. Either that or places like Walmart are trying to create a market to cash in on. Either way, if one more person preps that's a good thing.

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Originally Posted By: Grace&Violets
Red flag for me for today:

Anyway, bank manager tells DH that Matt Lauer sais something this morning on the Today Show and when the bank opened, they already had a line of 30 people waiting to get in, and it continued for quite a while that way. By the time it was over, customers had withdrawn over $750,000 and closed their accounts.

DH and I have decided that we will only deposit what we need to cover bills for checks or debits we do that week. Everything else is going to have to be cash, for now.



Wow, that is scary. I have auto deposits on EVERYTHING SSI, Adoption subsidies, and child support (when I get it). I also have automatic withdrawal on things like electric, phone cable etc.

I am part of the cashless society, a fact that I really hate.

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