The Great Depression 2.0 - Are You Ready?
- Thread starter livingston
- Start date
Saltwater60
.950 JDJ
Not sure I am. Never have enough ammo. When prices drop I’ll be buying more. I planned on another gun but might have to re-evaluate.
livingston
20×102mm Vulcan
Just purchased over 100 canning jars ... could be in short supply come canning season... just say
No....
But my wife and I will live ok.
It wont be fun but we can survive on very little money if needed.
Its been awhile sinse we struggled but 17 years ago we were as poor as crap.
We lived in a dilapidated single wide and made about $12,000 a year to live on. We can live on less if needed now. We are much wiser now.
But my wife and I will live ok.
It wont be fun but we can survive on very little money if needed.
Its been awhile sinse we struggled but 17 years ago we were as poor as crap.
We lived in a dilapidated single wide and made about $12,000 a year to live on. We can live on less if needed now. We are much wiser now.
livingston
20×102mm Vulcan
Biggest thing to worry about are taxes on your property ... Even if you own that home 100% one cannot pay the taxes your property will be sold on the courthouse steps ... Cuomo said he is cutting aid to counties (maybe by 50%) A fellow was on the radio and said 4 out of 5 rental units he owned did not pay last months rent...If this continues how long will he own the units ... I travel through some smaller town ... almost all of main street closed up ... what kind of sales taxes are going to be generated ? ... For now few government workers will be let go ... Where will that money come from to support a bloated payroll...? Government spends money like a drunken sailor ... Find a decent article on the 29 crash when the banks took a holiday... And their customers took a 90% haircut on their accounts ... ... Don't know how bad this will get prepare for the worst while one can. ... Keep some money out of the banks hidden away where you can get it without interference .
Blimey
.450/400 Nitro Ex
But why would a county steal my house for h paid taxes; who will buy it if 30% are unemployed?
You can’t get blood from a stone. If there is a large scale delinquency of property tax payments, that will be when SHTF.
livingston
20×102mm Vulcan
Read depression history ... A friend of mine had an uncle . He owned 7 paid off farms .Rented them out ... Never could get any rent At the end of the depression he lost them all on the courthouse steps... Who would buy your $200.000 house... Perhaps a government worker that is still working would buy it for $200... and the taxes owed... .. The county DA or county judge ... Still drawing the paycheck...
livingston
20×102mm Vulcan
All that property will be sold on the courthouse steps for what ever money they can get. ... Government workers need to be paid....You will always have people with money... Lawyers, Repo firms working for the banks ...When most of the shale oil land in NY is sold on the courthouse steps to NY City lawyers you will see drilling in NY State ... When things return to normal.... Property stolen in a legal way...
They are gonna have to kill us.
Once these fools open the economy it will be back to business as usually. Possibly even better as China’s dominance over manufacturing is over.
If Trump wants to demolish the Dems once and for all and go down as one of the greats, it’s time to forge a true pact with Mexico and craft tax laws which force American companies that want to sell here to either manufacture in the USA or Mexico.
A Mexican Renaissance would brought on by Trump would turn Democrats into babbling baffoons.
If Trump wants to demolish the Dems once and for all and go down as one of the greats, it’s time to forge a true pact with Mexico and craft tax laws which force American companies that want to sell here to either manufacture in the USA or Mexico.
A Mexican Renaissance would brought on by Trump would turn Democrats into babbling baffoons.
holdover
.475 A&M Magnum
No way. People believe that, but the damage being done is severe, Even the fed said it may take ten years . A lot of mom and pop businesses are not coming back because they cant. And with 32 million on unemployment right now watch what happens when the benefits run out.
So far, Mortgage applications 24% down, Refinance applications spiked 26% for the week and were 168% higher than a year ago. Auto sales down 35%. Job losses at depression era levels . If something isnt done soon , there's no coming back for years . Commercial real esate is getting its ass kicked as store close and rent stops , they are on the verge of a massive nose dive. And so soon will be the housing market.
So far, Mortgage applications 24% down, Refinance applications spiked 26% for the week and were 168% higher than a year ago. Auto sales down 35%. Job losses at depression era levels . If something isnt done soon , there's no coming back for years . Commercial real esate is getting its ass kicked as store close and rent stops , they are on the verge of a massive nose dive. And so soon will be the housing market.
My concern is everywhere is suffering.
Businesses are getting absolutely clobbered. Many will never recover or reopen. Revenues are down at unprecedented rates. Corporations as well as small businesses are suffering. There are layoffs, furloughs, downsizing like there hasn't been since the great depression. Guess what is the only sector that is pretty much business as usual? Government. Entities like NY state are operating as usual. The issue is their going to have a massive budget shortfall with such a massively reduced revenue stream. Think of how fewer tax monies are being collected. The government (as opposed to a private business) isn't simply going to say we need to cut our spending proportional to our lost revenue, they are just going to expect to have to find new ways to screw us and collect the taxes they are not currently receiving. It's going to make a bad situation into a terrible situation.
Businesses are getting absolutely clobbered. Many will never recover or reopen. Revenues are down at unprecedented rates. Corporations as well as small businesses are suffering. There are layoffs, furloughs, downsizing like there hasn't been since the great depression. Guess what is the only sector that is pretty much business as usual? Government. Entities like NY state are operating as usual. The issue is their going to have a massive budget shortfall with such a massively reduced revenue stream. Think of how fewer tax monies are being collected. The government (as opposed to a private business) isn't simply going to say we need to cut our spending proportional to our lost revenue, they are just going to expect to have to find new ways to screw us and collect the taxes they are not currently receiving. It's going to make a bad situation into a terrible situation.
Bingo! That fact really gets my goat. Government is funded by the tax base, i.e. taxpayers. If there is a huge contraction in the work force there should be contraction in the government. You can't tell me every govt worker is essential. In my suburb my wife works for the town in the assessing department. They are considered essential so she has had to go to work every day. The vast majority of the town employees were sent to "work from home" which in all practical terms means they get paid for doing nothing. Private businesses are under lockdown or operating at reduced capacity. Want to know what won't be affected? Your school and property tax bills. Curious how with all the talk about mortgage or rent deferments no one in govt has talked about tax deferments.
Blimey
.450/400 Nitro Ex
Multi-year recovery is already a lock. It's happening. The question is how many years. V-recovery was a pipe dream, no chance of it now. This is absolutely the worst economic disaster since the great depression. Moreover government will have to raise taxes to cover its stimulus + its precipitously lower tax receipts. These will happen while the economy is already beaten down. There is no fast recovery plausible.
My wife and I are both still employed, but I can't pretend I'm not scared out of my fucking mind over what this is doing to the economy because I am. There is no facet of the economy that won't be impacted by this. So far 1/50,000 Americans have died from this. Enough is enough. Millions every week are losing their jobs and I see most in government just not even mentioning economy, like it doesn't matter.
I saw yesterday I think on WSJ that they are saying approximately as many deaths from covid are from covid fear; e.g. heart attacks admissions at hospitals are down. Not because they aren't happening. People are afraid of hospitals.
I love everything you said except this part.
I actually think that our taxes will be affected, they are going to go up, and noticably so.
Local districts are going to be getting less state aid,. So the local tax payers are going to be left covering the shortfall.
:/
Saltwater60
.950 JDJ
Yes taxes are what scares me. Also don’t forget what do you think your medical insurance will look like next year. Huge jumps in taxes and medical insurance premiums are coming.
Even if we open up right now the economy will not recover quickly IMO. It will take some time for sure.
I’ll live. Many of my neighbors won’t as they don’t have the means to. It might not be fun but that’s life.
Also I doubt the cops and whoever will be coming and doing forced evictions on your home if they aren’t getting paid. Will it happen sure but the banks won’t allow it if they are going to get $0.10 on the dollar. They can’t afford that.
My grandmas house is for sale right now and I thought about buying it for rental property but NYS laws and no one paying rent made that no decision very easy for me.
Even if we open up right now the economy will not recover quickly IMO. It will take some time for sure.
I’ll live. Many of my neighbors won’t as they don’t have the means to. It might not be fun but that’s life.
Also I doubt the cops and whoever will be coming and doing forced evictions on your home if they aren’t getting paid. Will it happen sure but the banks won’t allow it if they are going to get $0.10 on the dollar. They can’t afford that.
My grandmas house is for sale right now and I thought about buying it for rental property but NYS laws and no one paying rent made that no decision very easy for me.
holdover
.475 A&M Magnum
Cuomo is tossing around the idea of making home schooling permanent. He's out of his mind. A single mother with three kids is automaticly going to have to apply for welfare. She cant work , Its not like she can send them to daycare, they aren't going to teach them too, and some kids are to old for day care , Like a 8 or ten year old. what is she supposed to do? Whos going to school the kids if shes working? Whos going to feed them if shes not? This is third world shit .
holdover
.475 A&M Magnum
Yeah I was considering some rental property this year too, but not now. I may wait a year and see what happens . If I can get them dirt cheap I might,
holdover
.475 A&M Magnum
Anyone notice the lack of sirens lately? Its been pretty quiet . I usually hear sirens everyday, police, fire, ambulance. lately almost nothing. Pay attention today and see if you notice it. I hear the hospitals have been pretty slow too.
I saw that. I actually heard that fuckwit say in his own words (I'm paraphrasing) "perhaps the old school model of traditional schooling is obselete with a teacher in front of a classroom, we have new technology where we can do things from home now. Maybe we'll look at that going forward.
Hrs trying to set the stage to condition is to not be surprised when school starts closed in September.
Here is the exact quote
He outlined plans to work with the foundation of Microsoft Corp co-founder Gates to improve New York's education system, which includes the largest public system in the country in New York City, with more than one million students.
While he did not provide specifics, Cuomo suggested a fundamental rethink of the classroom was on the table.
"The old model of everybody goes and sits in a classroom and the teacher is in front of that classroom, and teaches that class, and you do that all across the city, all across the state, all these buildings, all these physical classrooms – why with all the technology you have?" Cuomo asked.
New York to work with Gates Foundation to 'reimagine' schools: governor
New York will work with the Bill & Melinda Gates Foundation to "reimagine" the state's school system as part of broader reforms in the wake of the coronavirus pandemic, Governor Andrew Cuomo told a daily briefing on Tuesday.
mobile.reuters.com
Yes there is huge talk with this nonsense and I believe thats why this big wig from Google was hired. To craft online virtual schooling. So with that said do we demolish all the brick and mortar schools? No more buses needed? No heat to pay for? No need for all these teachers? Sports done? So that means no more school tax?? Lol...
holdover
.475 A&M Magnum
Just because you can, doesn't mean you should. There's a petition going around about this. I think he has every intention of doing it .
Blimey
.450/400 Nitro Ex
Here's my question: how willing are teachers, police unions, etc. going to be to renegotiating? Because I can tell you if they think they are getting raises (or even keeping same pay) while sitting at home largely (this aimed at teachers) and millions unemployed I can't get behind that.
For years I have considered getting into rental properties as a hedge against blips in equity market.
This pandemic has made further consideration of such an easy and hard no. There are land lords out there paying multiple mortgages and getting huge cuts in rent. And as the government so very, very helpfully pointed out they have not said people don't have to pay their rent, just that they can't be evicted. I promise you some have made the conscious decision to just stop paying, knowing the government will baby them and keep them going for many months without paying. Then if they ever can be evicted and damage recovered it's a huge burden on the landlord.
I'm sure government has not considered the long term implications of what they did. There's no way in the world a lot of land lords will not keep this in mind in the future. It will surely make that proposition less attractive.
Blimey
.450/400 Nitro Ex
Fuck this shit.
Fuck me with a log, we need kids back in September. Many of us are pretty busy at work and can't find the mental attention and/or time to do this.
But that said, cut my school taxes down to $0 and I'll find the time. Somehow I don't think that's part of this bargain.
Blimey
.450/400 Nitro Ex
What the fuck!!!Here is the exact quote
He outlined plans to work with the foundation of Microsoft Corp co-founder Gates to improve New York's education system, which includes the largest public system in the country in New York City, with more than one million students.
While he did not provide specifics, Cuomo suggested a fundamental rethink of the classroom was on the table.
"The old model of everybody goes and sits in a classroom and the teacher is in front of that classroom, and teaches that class, and you do that all across the city, all across the state, all these buildings, all these physical classrooms – why with all the technology you have?" Cuomo asked.
New York to work with Gates Foundation to 'reimagine' schools: governor
New York will work with the Bill & Melinda Gates Foundation to "reimagine" the state's school system as part of broader reforms in the wake of the coronavirus pandemic, Governor Andrew Cuomo told a daily briefing on Tuesday.
I know right.
I can't explain how pissed I was when I heard his own stupid voice make that statement.
My takeaway,
He is trying to condition us to get used to the idea of them not going back to school in September and a permanent shift to virtual schooling.
My next logical takeaway, is they have no clue how bad that will screw some families and their parents will no longer be able to work if their kids are not in school. A huge chunk of parents will just never return to the labor force. A huge chunk of former workers will now become dependent on government aid to survive. Oh, wait. Brilliant.
Tin foil hat, but this seems like a significant step down the road of agenda 21/2030.
One step closer to being techno-serfs.
My comment had to do with the timing of tax bills, i.e. you will still have to pay them on time with no deferment. But your point is probably correct as well. With declining tax receipts we all know the first knee jerk reaction of politicians will be to raise taxes instead of cutting spending. To the political class there is no such thing as a "non-essential" expenditure.
I think this issue is what will cause major political repercussions. It's one thing to tell the populace to stay under lockdown and prevent them from earning a living. But when they turn around and tell them their tax obligations not only remain the same but actually increase - that's when the pitchforks come out.
Blimey
.450/400 Nitro Ex
I know for a fact some nurses at a local hospital have quit because of daycare issues from this. And now that there is a hiring freeze at said hospital...guess who can't get a job even if they had daycare.
I'm seeing a distinct lack of attention to this by politicians. I think the consensus must be that it's just so nasty to consider that we should trade lives for economy that they are unwilling to discuss it, even though it is reality, we have always traded lives for economy, and will have to do so now as well.