Preparedness for when

[Deleted User]

Hugs NARGLE hope you have some sunshine today and a little bit of time out with something to make you smile, here when you need us, Lyn xxx.

jk0

Sorry to hear about the washing machine scam Nargle, (and the other things.)

I do buy odd things on Ebay, but mostly use Amazon, John Lewis or AO online. I think there's something to be said for choosing a firm you've heard of.

BTW, if anyone is looking for Land Registry online, there are a number of copy cat sites that come up on Google that charge more money than them to download documents. Shockingly the real Land Registry is quite far down the search list. Recently I paid £15 for a £3 document!

Frugalsod

kittie wrote: »

Is this where you got your last post from frugalsod?

http://www.cnbc.com/2015/09/28/glencore-may-spark-a-lehman-moment-for-miners.html

Anyone can re-chew someone else`s words, you really do need to name all your sources frugalsod. You post as though they come directly from you

No both links and the quote were from Zero Hedge. I do not bother with CNBC as they are not really accurate anyway. And you have to delve much deeper to make sense of CNBC and Bloomberg. For example they never really saw the crisis coming and really only look at the earnings per share which for US companies are manipulated significantly.

The quote was verbatim from the article and why I put it as a quote. They were not my words, hence I had it as a quote.

The real problem for Glencore is its debt load and not its trading or mining sides. Its leverage does not even need to be anywhere near the levels of Lehmans for it to be a problem. The mining side can be laid off till prices recover. This is what mining companies have done for decades, and is what Glencore is doing to its zinc mining operations now. The trading desk can make money in falling markets as well.

kittie wrote: »

and while I am here, this thread still has some aspects that made it a good thread ie prep for whatever but it has turned into a sub forum for zerohedge nonsense and needless scaremongering.

Zero-hedge data is more accurate than elsewhere but the analysis from many of the authors is not that great and the comments are not worth reading at all. Sometimes I think that they are right but I always check the motives of the author on Zero hedge. Many are touting gold or silver as a safety net to any such problem. I think Gold and silver could fall further as their industrial demand falls. Others are promoting their investment business. It is no different from the economist who appear on the BBC or ITV. They work for banks and so it is in their interest to make the problems appear elsewhere and that things are really rosy.

Many have predicted hyper inflation especially if the currency collapses. I do not think that is likely If the banks collapse the debts and liabilities will evaporate together. I doubt that currency collapse is realistic either.

kittie wrote: »

Life is for living and not being in a perpetual state of `what if?` This is why there are so few posters on here nowadays, the very few who regularly post are the ones that keep bumping the thread, it isn`t down to many posters any more. Most of the stalwarts have been sensible enough to leave, rather than be sucked into such negativity. The regular posters can be counted on one hand now

Of course life is for living and enjoying. The fact is I am planning long holidays around the world, hardly the actions of a person holed up in a bunker. Why would I plan to swim with whale sharks in the Philippines and climb volcanos if I was concerned about the banking system? The risks are still there which is why governments have brought in bail in rules even though according to you there is no problem with the banks. I do expect a banking crisis but am getting prepared for it. I will still go on and enjoy things and longer term think that we will eventually fix the system but at the moment the government are more concerned about getting re-elected than fixing the banks.

Though the one aspect of prepping that seems to be lost on many people is avoiding the situations where you have to react to it. Avoiding complications is the most realistic prepping even more than an abundance of skills and food stocks, which are useful but if your bad decisions have put you in a situation where you need to use them then you have partially failed.

Deflation is the real problem and government efforts to arrest that threat have not had any effect. That is why I am concentrating on debt clearance before that happens. I am also concentrating on lowering my basic day to day costs so that I can cope with the fall in incomes that will be coming over the next five years.

kittie wrote: »

I had to come on to put the record straight, as far as I can see, there is no future crisis. I continue my financial affairs via stockmarket trading as from many years ago. In 2006 there was going to be a big change and I started a thread at that time to help pre-warn and for people to prep as fast as they could. I have no worries nowadays, in fact the signs are looking good for the future. The world has always been in a state of flux and tbh it is far better to just get on with life rather than to continue reading the drip drip negativity that comes forth from one or two posters

And I don`t care what people think of my post, I am not going to sit back and see people scared witless for no reason except through reading the garbage that is written here, the garbage that is written as though it comes from the poster via a lot of personal knowledge :rotfl:

You clearly see that things are going well because you have been a beneficiary of QE but should that stop then how far will your stocks fall? When the crisis hit in 2008 all the efforts were to avoid another depression caused by the stock market collapse in 1929. So QE was there to bail out the banks and hold up asset values. It was massive extend and pretend to avoid a depression. Where as if you ask most people things have not improved since 2008. If QE fails for any reason what level should the stock market fall to? Many US stocks are valued more highly but their boards have been borrowing significant amounts of money to buy their shares. This raises earnings per share and makes the company look fairly valued per share but the same store sales may have fallen. This is what has happened to McDonalds. Their sales for several years have been falling on a weekly basis to the extent that they stopped announcing weekly sales. Some other big companies that no longer report monthly sales figures.

The crisis in 2008 was a debt crisis and we now have a bigger debt crisis. That is why I am pessimistic about the financial markets. The high yield markets like the Oil Frackers have some $5 Trillion of debt at stake, Now that will not all fail but say $2 Trillion has to be written off. That might be within current bank reserves so not a problem. That ignores that this will cause a collapse in housing values in those fracking areas and that will lead to bigger losses. Remember the sub prime crisis was only really in 4 US states but it devastated the world economy, and there are still 14 million homes in negative equity in the US.

The best guides to what is happening are things locally. How many stores are closing, how busy are the streets, how crowded is your commute, are there more charity shops in your local high street, have the stores started their sales before Christmas? All these are good indicators of how things are in the community and how poor demand is for goods and services.The big chain American Apparel went bankrupt last week even before the Thanksgiving and Christmas sales period.

[Deleted User]

Just a suggestion (and I don't know how to do it) but might it be a sensible idea to split the PREPPING thread into two, it's become very long and perhaps one half be for things on a practical level like what to store, how to make chutney, how to dig a compost loo etc. and the other half for information from Zerohedge etc. so that people who are finger on the banking financial pulse readers don't have to wade their way through my chutney recipes and those who are more concerned with the price of baked beans and how to obtain clean water don't have to wade through all the financial and political info either? There will be those of us who will read along on both but it might make sense to do it?

mardatha

.......pondering a first venture into buying shares - who makes jellybabies?

[Deleted User]

BASSETTS!!!!! and they make LIQUORICE ALLSORTS TOO YUM, YUM, YUM!!!

Frugalsod

craigywv wrote: »

I even enjoy frufalsods opinions ,but I think the thread is getting too in depth about banking. please don't think im an idiot I do know about the world crisis going on around me but can we maybe go back a few months to the way the thread was thankyou. if its going to stay the same well I shall see you all on another thread not so !intelligent" and above my head xxx

Thank you.

The problem is that for most people we put our spare cash in a bank but if the banks now fail we can lose it, all because politicians were stupid enough to deregulate banks, who then made stupid bets on something or other, and lost.

Until the 2008 crisis I did not even give it much thought. I never really considered it and so like most did not detect the problems. So I am no better than anyone else here. Afterwards I worked through the impacts and worked out where the problems would be and so made some changes.

The banks are important to watch because you will all depend on them to pay your wages or pensions into your account. Most people are living from pay cheque to paycheque which is a problem in itself, but what would happen to the finances of your employer if they lost funds in a banking collapse? Would you still have a job? Could your employer even afford to employ you? Or even get the last months pay? Look at the problems that many councils had when they had funds trapped in the Icelandic banks. Now they got that money bank eventually but if they had not what do you think would happen? Since we have not really fixed the banks it makes sense to prep for any problems. I am not rich enough to worry about the lowering of the deposit protection limit or what would happen to my "non existent" excess funds if there were a bail in, I might be so far below the limit that nothing happens to me. My meagre funds could be lost and so I am trying to cope within what I think could happen to me. 1Tonsils experience of what has happened in Greece has been very educational. Things like small change being very useful. So I have been making changes from things that I have learned here.

I do find there are many ideas here for things that I had not considered, but use them as a source for further research like growing my own food without an allotment. Someone else posted an interesting link to a food storage system and I am now looking at the idea of a freeze drier rather than dehydrator. It opens your mind to alternative solutions to solve problems which is why I am not panicking.

Overall though someone will have knowledge about something that we had never considered. It might not be directly useable but with some tweaking we could make a solution that suits us individually.

pineapple

MrsLurcherwalker wrote: »

Just a suggestion (and I don't know how to do it) but might it be a sensible idea to split the PREPPING thread into two, it's become very long and perhaps one half be for things on a practical level like what to store, how to make chutney, how to dig a compost loo etc. and the other half for information from Zerohedge etc.

A prepping forum I am on got round this by devoting most of the space to practical stuff but having a section for breaking news.
Personally I find both sides interesting. While you could argue that politics, finance etc might worry some unnecessarily, it might just shake someone out of complacency into making some provision.
It's tricky as the latter can easily drift into alarmism and tin foil hat stuff but if say, there were signs that my bank was about to go belly up or global thermo nuclear war was only inches away, I really would appreciate a heads up

moneyistooshorttomention

pineapple wrote: »

A prepping forum I am on got round this by devoting most of the space to practical stuff but having a section for breaking news.
Personally I find both sides interesting. While you could argue that politics, finance etc might worry some unnecessarily, it might just shake someone out of complacency into making some provision.
It's tricky as the latter can easily drift into alarmism and tin foil hat stuff but if say, there were signs that my bank was about to go belly up or global thermo nuclear war was only inches away, I really would appreciate a heads up

What is the link for this forum please?

GreyQueen

Afternoon all, just a fly-by between potting lots of beetroots (thanks to MrsLW's trusty recipe!) and visiting a pal for a knit and natter.

I don't spend time fretting about what the stock market may or may not do. My reasoning is simple; I can't control it and I don't hold shares. Obviously, my and everybody's financial fortunes are inextricably-linked into what happens there, but it isn't within my ability to influence, so I keep a wary eye but otherwise don't sweat it. No point.

As I work in the frontline of local authority land, I get a bird's eye view of society, particularly the more vulnerable sectors of society. I also know, to the nearest million, exactly how much money my council has lost since 2010. I won't tell you exactly, because that's a RL identifier, but it's three figures and counting. In millions. With more cuts to come.

What this means is that things are getting tighter and tigher and tighter, in terms of what services can be provided for the public. It also means that many, if not most, people are operating under misapprehensions of how much support the State (local or national) can or will be able to give them if/ when they need it. You don't want to be betting on a rescue when the rescue boat has been holed and is sitting underwater.

You have to understand that if you lose your job and apply for benefits, you will be lucky to get anything out of DWP within 8 weeks. And housing benefit calculations are running months (6+ months is common) behind real world changes to your circumstances, and you could lose your privately-rented home to arrears before they kick in. Tax creddits will be going up the swannee for a lot of people come April 2016.

These are just small examples (am in a rush to head out the door) but understand absolutely that you need as a minimum, 3-6 months' worth of expenses accessible at all times. Or you'll be at risk of hocking your goods and chattels to pay the bills.

Laters, GQ x