Do you think there could be a second Great Depression?

LuvMyMan · Mar 26, 2020

LizzieMaine said:
A lot of places here, before they were shut down entirely, were refusing to accept cash.

Do you think the cash is a no no due to possible virus on the money? I think it is what the concerns might be.

LizzieMaine · Mar 26, 2020

That's the story up here. The only place I've been too all week that'll take cash is McDonalds. Ronald always wears gloves, I guess.

PrettySquareGal · Mar 26, 2020

LuvMyMan said:
Banks close up you lose your cash. Not sure about anyone else on that matter but my money has a value to me to be in a safe place and not just "gone" due to bank closures.

I keep my money FDIC insured banks. I assume you have them in Michigan?

LuvMyMan · Mar 26, 2020

PrettySquareGal said:
I would say for now in the US as we try to flatten the curve over the next few weeks or more that the medical/science/immunologist experts are a good source for answers.

That might be, but it appears this virus is not like any that have hit the World for some time. The "politics" involved needs to be tossed out the window for now and everyone needs to pull together for a fix, not only on the virus part of this, but also for really helping to get things back to what we call, normal....

LuvMyMan · Mar 26, 2020

LizzieMaine said:
That's the story up here. The only place I've been too all week that'll take cash is McDonalds. Ronald always wears gloves, I guess.

Well hells bells...I am wearing gloves and a mask when I go anywhere. have a container of wipes to use on anything I buy, I have wiped things off. Now I guess I am going to burn paper bags I have from the last store run for some items I just purchased.

LuvMyMan · Mar 26, 2020

PrettySquareGal said:
I keep my money FDIC insured banks. I assume you have them in Michigan?

I would never count on any institution to make things right for your money in the bank, politicians can rule that protection right out the window. My personal opinion here,...if the government controls it, they can take it. Examine the issues of student loans,.,.,.they wanted to forgive loan amounts. As much as I know that is a burden for some to pay, if the person took the loan, the have a duty to pay it back, forgiveness of the loan will be passed down to everyone else on taxes sooner or later.

Bottom line is, who do you trust? yourself or some hot shot multi millionaire politician to safeguard your income and well being? I will hope bank money is safe,.,.,.but I KNOW the money I have with me is very safe. I can spray all my money with disinfectant to make it clean enough to not spread any germs.

LuvMyMan · Mar 26, 2020

Edward said:
THat was certainly my experience of the 08 crash; didn't feel any impact til 10. Since then, across my sector we've taken a full 20% pay reduction in real terms, so while I'#m very luck that my job is carrying on as realtively normal (with just aswtich to online delivery of teaching) to the point where I'm busier than ever, I'm much more wary about it financially. Ironically, I'll probably come out of it ahead because we're not eating out or socialising. A few quid on an impromptu pub lunch here and there soon mounts up. Making a real effort to stay off eBay too!

Well now, you hit one issue on a lot of people's daily routine now....eBaying....I shop like an eBay addiction....always buying for myself or someone I know. I could check my purchase history but I am clearly certain I have spent a few grand this month buying things online and most of that was eBay.

PrettySquareGal · Mar 26, 2020

I trust the bank more than I would having all my cash in a home safe, hidden treasure box in the woods or safe deposit box, really. I agree that having some cash on hand is always prudent but other than that I do keep my money in a half dozen FDIC insured institutions in case one fails.

GHT · Mar 26, 2020

LuvMyMan said:
Well now, you hit one issue on a lot of people's daily routine now....eBaying....I shop like an eBay addiction....always buying for myself or someone I know. I could check my purchase history but I am clearly certain I have spent a few grand this month buying things online and most of that was eBay.

Never bought anything on e-bay, I rarely look at their website. But! Our indulgence is to have a gardening fairy, well two actually, they are a husband and wife team. We also have an ironing fairy, both those fairies still visit, but our domestic help fairy is a bit more fearful, so I am having to learn what a vacuum cleaner is, and the wretched washing machine, damn thing looks like it's straight off the deck of The Star Ship Enterprise. Would you believe that even our kitchen waste bin/trash can is automated? Just wave your hand and the lid opens. The poor cat almost sh*t herself the first time she walked past the thing.

Technology, it blows the fusebox in my head. You should see my missus recording a TV program. She flits from one menu to another, does this and that, burns it onto a disc, it's all I can do to flick through the channels. I do hope our domestic fairy comes out of hibernation soon.

LuvMyMan · Mar 26, 2020

PrettySquareGal said:
I trust the bank more than I would having all my cash in a home safe, hidden treasure box in the woods or safe deposit box, really. I agree that having some cash on hand is always prudent but other than that I do keep my money in a half dozen FDIC insured institutions in case one fails.

My situation is a bit different then most people. I work at home, have a "network" system connected with over a hundred companies for that work. The main company that I work for has their equipment in my home which would be costly in many ways to have to replace. My home is never without a human in it, I have friends that house sit for me even if I go to a store, someone is in the house 24/7.

On my "pet" situation, of the three dogs I have, one is a trained guard dog and all three dogs require monitoring which includes the two smaller ones getting let out side to poop and pee. I can safely state my money here is very very well guarded as is my own personal safety.

LuvMyMan · Mar 26, 2020

GHT said:
Never bought anything on e-bay, I rarely look at their website. But! Our indulgence is to have a gardening fairy, well two actually, they are a husband and wife team. We also have an ironing fairy, both those fairies still visit, but our domestic help fairy is a bit more fearful, so I am having to learn what a vacuum cleaner is, and the wretched washing machine, damn thing looks like it's straight off the deck of The Star Ship Enterprise. Would you believe that even our kitchen waste bin/trash can is automated? Just wave your hand and the lid opens. The poor cat almost sh*t herself the first time she walked past the thing.

Technology, it blows the fusebox in my head. You should see my missus recording a TV program. She flits from one menu to another, does this and that, burns it onto a disc, it's all I can do to flick through the channels. I do hope our domestic fairy comes out of hibernation soon.

Wow very interesting indeed. I thought (could be mistaken but) does not your sweet wife do some super nice sewing? Being shut up inside certainly could allow her to be busy making some nice trousers for you!

GHT · Mar 26, 2020

LuvMyMan said:
Wow very interesting indeed. I thought (could be mistaken but) does not your sweet wife do some super nice sewing? Being shut up inside certainly could allow her to be busy making some nice trousers for you!

She's on the case. Most men have a man cave, her woman cave is a bespoke built cabin in the garden. I will show you some of her handywork as and when.

LuvMyMan · Mar 26, 2020

GHT said:
She's on the case. Most men have a man cave, her woman cave is a bespoke built cabin in the garden. I will show you some of her handywork as and when.

I know she has some super skills by seeing what you wear.

GHT · Mar 27, 2020

LuvMyMan said:
My three dogs are a fantastic alarm system.

Three dogs Cindy? Good grief, I do hope that you have got them well trained.

Edward · Mar 27, 2020

LuvMyMan said:
Well now, you hit one issue on a lot of people's daily routine now....eBaying....I shop like an eBay addiction....always buying for myself or someone I know. I could check my purchase history but I am clearly certain I have spent a few grand this month buying things online and most of that was eBay.

It's a killer. I had to learn the hard way to mostly stop buying clothes in ebay unless absolutely certain of sizing (the number of idiots who think the pit to pit measurement equates to the 'chest size')... My biggest problem for years was buying stuff, it being not worth returning it for size of the loss in postage (eBay's returns system has improved massively in recent years), and then never getting around to reselling....). These days I tend to prefer Etsy, though it is a different beast largely, in terms of what it makes available. eBay gouge the seller far too hard for my liking, but there's no other market like it, and local smalls sure don't cover you against being ripped off the same way.

Online shopppnig with paypal and 'one-touch' buying makes it all rather too easy to spend these days. Another reason (security aside) I fight the bank to have a non-contactless card every time!

Nobert · Mar 27, 2020

Edward said:
It's a killer. I had to learn the hard way to mostly stop buying clothes in ebay unless absolutely certain of sizing (the number of idiots who think the pit to pit measurement equates to the 'chest size').

I just really started Ebay-ing this year, and learned the hard way what has now become a personal maxim: Never trust the size or fabric content claims of an Ebay shirt unless they provide photographic evidence of tags that back up the assertation.

LuvMyMan · Mar 27, 2020

Edward said:
It's a killer. I had to learn the hard way to mostly stop buying clothes in ebay unless absolutely certain of sizing (the number of idiots who think the pit to pit measurement equates to the 'chest size')... My biggest problem for years was buying stuff, it being not worth returning it for size of the loss in postage (eBay's returns system has improved massively in recent years), and then never getting around to reselling....). These days I tend to prefer Etsy, though it is a different beast largely, in terms of what it makes available. eBay gouge the seller far too hard for my liking, but there's no other market like it, and local smalls sure don't cover you against being ripped off the same way.

Online shopppnig with paypal and 'one-touch' buying makes it all rather too easy to spend these days. Another reason (security aside) I fight the bank to have a non-contactless card every time!

One thing that comes to mind when I see you post, when Daniel was alive we had always had a desire to get over the pond to visit friends and sure wanted to meet up with you, we know you would have had a blast with us.

I am always asking a ton of questions to any eBay seller before buying. I purchased a hat recently for a friend, yep the hat was measured by my request to see if it will fit...then sadly they seller crams that fedora into a 4 inch by 6 inch box,....LOLOLOL! I had to un-steam roller that hat....it had the appearence of being run over by a Sherman Tank..all thanks to how it was shipped.

Clothing...oh my...you have to really talk with such care to a seller and let them understand the importance of size measurements and if they cannot do as asked, I thank them dearly and just do not make the purchase.

On a side note, I am always looking at "stuff" so if you ever have a hankering for some type of clothing items, give me a hollar, I just might know who has what you are looking for.

vitanola · Mar 28, 2020

LuvMyMan said:
Banks close up you lose your cash. Not sure about anyone else on that matter but my money has a value to me to be in a safe place and not just "gone" due to bank closures.

We haven’t had any of those kinds of losses since the Hoover Depression. If things ever get so bad that FDIC insurance doesn’t not pay off the societal collapse will have been so serious that fiat money will probably have little value anyway.
Gold and silver may be a good hedge against such a potential collapse, but taking your money out of the bank implies a lack of confidence in a financial system the currency of which retains value only due to to confidence in said system.

LuvMyMan · Mar 29, 2020

vitanola said:
We haven’t had any of those kinds of losses since the Hoover Depression. If things ever get so bad that FDIC insurance doesn’t not pay off the societal collapse will have been so serious that fiat money will probably have little value anyway.
Gold and silver may be a good hedge against such a potential collapse, but taking your money out of the bank implies a lack of confidence in a financial system the currency of which retains value only due to to confidence in said system.

It is hopeful that nothing does proceed to such a horrible time that such a breakdown in our Financial pictures takes place. But, I have always followed some sound advice in these times...if it can happen, it will happen. I prefer to be better prepared then not at all.

Harp · Apr 1, 2020

LuvMyMan said:
It is hopeful that nothing does proceed to such a horrible time that such a breakdown in our Financial pictures takes place...

Velocity M1 4th Q 2019 St Louis Fed measure was around 5.501; viral indicative yet to be determined but recent
congressional stimulus is conflicting for its cumulative impact and profligacy. Prognostication is favorable to global
economic ease amidst crisis with recover projected however such is tenuous due to fiscal deficit indifference.

Do you think there could be a second Great Depression?

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