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Preparedness for when
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moneyistooshorttomention wrote: »Now you just know I gotta ask - if its that secret then where did that information come from?
I can't remember.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
I think it does depend significantly on the make up of your customers. If they are ordinary working people possibly some minimum wage earners then it should be very good for you. If you do not have these types of customers it will be harder. Though even the rest could find that they are spending more.COOLTRIKERCHICK wrote: »Daz,
Even though it sounds good min wage going uo like that, for small firms like ours who are struggling, this could be the final straw..
Don't forget, its not only wages increases, we also have to pay 5% of your wages into a pension fund, PLUS from last April if an employee is off sick, and claims sick pay, we can not claim it back, plus we also pay employers tax contributions on top of your wages...
We have gone without taking any money out for our wages some weeks, so we could pay staff..due to things either being quiet, or waiting for invoices to be paid..
Sooooooo I can see alot of small firms either not taking on, leaving staff go, and loads closing..down..It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
I do not think that the US stock markets are as dire as some others. China is far more overvalued. Also in a crisis money will flow back to the US and the US stock market might benefit.Butterfly_Brain wrote: »CTT I think it will be worse than 2008 crash and that everyones bank accounts will be raided to bail the banks out this time, just as they did in Cyprus.
They can close the banks at any time, you only have to look to Cyprus and now Greece to see what happens.
I will be drawing out as much as I can and paying extra off of the mortgage to clear it as quickly as I can, that is our only debt and we only owe £10,000 now.
I wish we could afford a smallholding of our own especially as the animal feed of the big suppliers to the supermarkets is now contaminated with gmo's. But unfortunately we can't afford it
At least if you have your own livestock and land you can feed yourself whatever sort of storm comes along.
That does not mean I think that the US market will be the first to go pop. It is clearly overvalued and in bubble territory but there are still lots of buybacks to hold up the value for now. Though should the US central bank raise interest rates even slightly that source of funding will end and then it could collapse soon after.
I do agree with your other preps. While Greece is likely to bail in customers I do not think it is going to happen here tomorrow. It takes time for losses to ripple through the banking system towards London. Then it will be a problem but in the meantime it gives us an opportunity to withdraw cash and build balances outside the banking system.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
That is a perfect demonstration that deflation is still rampant in Greece. Companies are trying to make bigger profits than the market can bear. So they end up with unsold food or any other product for that matter.There is no truth in the article about Greek banks taking deposits. There are also no shortages at the moment. This uses stock images of the supermarket. In the market in Athens they are complaining of having to cut the cost of food as they do not have enough customers to buy fresh food.
They do have 30 to 40% of their loans as non performing. That would mean that the banks would have to make significant write downs at some point.We will have to see what happens with the banks. They were not closed by the government, but by the IMF and ECB.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
Just a quick update....at the moment the banks are not planning a haircut on accounts but the figure of accounts over one hundred thousand euros was mentioned a few weeks ago before all the chaos broke out.
€100 000 is the current EU limit for deposit protection. It is the same figure that was used in the Cyprus bail in. The UK figure, which has just been reduced, would be the same if translated into euros. Most people are well below this figure anyway.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
Okay now that I have dealt with all the past posts that I missed while cat sitting I have my own SHTF situation. I got home to discover I am going to be evicted.
So went off to see the letting agent today and they were really sorry but they will be trying to find me something locally. As I am the least trouble among all their tenants I am top of the list in terms of finding somewhere. In fact before I left they may even have something in the same block as I am already in, so moving will be very easy as it is two floors up and next door to the flat that is directly above mine.
I have already seen an advert for a place next door to my parents but it is a top floor flat so it will mean a lot of lugging of all my preps up three flights of stairs. It is not that much bigger than where I am now am may be even smaller but it could reduce my expenses by more than £30 a week if I can get it at the right price. So my current plans are to eat the contents of the freezer which will mean no spending for months.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
Love this take on banking and the banksters, made me chuckle anyway.
https://www.youtube.com/watch?v=MnFq0ahL2V0Blessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
Sorry to hear that you have a housing crisis frugalsod
But it could be that you get a better place at a cheaper price.
xxBlessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
I look at the change as an opportunity for me to rethink my prepping and what I really need. It will give me a chance to change things for the better.Butterfly_Brain wrote: »Sorry to hear that you have a housing crisis frugalsod
But it could be that you get a better place at a cheaper price.
xx
It is the the reduction in my water bill from unmetered to metered that will make a big impact. Living as green as possible does reduce my water use.
The local move will be done by myself with a porters trolley so will save me an absolute fortune in removal fees.It's really easy to default to cynicism these days, since you are almost always certain to be right.0 -
Butterfly_Brain wrote: »Love this take on banking and the banksters, made me chuckle anyway.
https://www.youtube.com/watch?v=MnFq0ahL2V0
I love those ladies. Anyone seen 'Cheap Flights'?
https://www.youtube.com/watch?v=l6pj3Fdbwng0
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