World Turned upside down

[gdcox]

Graham
It is worth noting that economists screwed up big time last year. As an economist , I can see that some of them are over-doing it now to make up.

I might start getting boring on this excellent site by asserting that this house price crash will come to an end when the rental yields on average properties become irresistibly attractive to landlords (and rental payments are higher than mortgage payment to house value for those considering dumping their homes) .

That will be before doomsday,

but clearly we are not near that
inflexion point yet.

[kewp]

That said, it sure would be nice if those with better historical (hysterical??) sense would weigh in with specific recommendations.

Well, I’m not claiming to have any more historical sense than the next guy, but as I’ve been planning for this since ’05 I’ll share some of my experiences.

First off, think of the basics. How do you make your money? Is your job recession-resistant? Does it depend on consumer spending? Is it at all related to real-estate?

In my case, I decided to work in higher education. About as recession-resistant a gig as they come *and* its one of the few things we are still competitive in on a global scale.

If you have debt, consolidate it then get rid of it. If you have any dollar denominated assets or real estate, sell them. Get in gold, hard currencies or foreign bonds. If you want to speculate, short the RE and financial sectors.

If you need to commute, consider renting near enough work to bike or take public transit. Thats what I do. The savings are huge, plus if I have problems with my car, I can wait till the weekend or a telecommute day to fix them. I don’t have to waste money on a rental.

In general, much of what we are going through is due to an extended national period of over-consumption. And for better or worse, many Americans are going to be forced into a starvation diet. Get ahead of the game and practice under-consumption.

Some things I do:

30% of income to either debt reduction or saving/investment.
Skip one meal a day
Strict weekly budget
Nothing on credit, cash only
Eat vegan a few days a week
Drink water only
Have a ‘simple year’, no big purchases and focus on de-cluttering for a full 12 months

I’m reasonably sure that a few years from now, the used goods market will as big or bigger than retail. Prepare now and enjoy the deflation while you can!

[kewp]

That said, it sure would be nice if those with better historical (hysterical??) sense would weigh in with specific recommendations.

Well, I’m not claiming to have any more historical sense than the next guy, but as I’ve been planning for this since ’05 I’ll share some of my experiences.

First off, think of the basics. How do you make your money? Is your job recession-resistant? Does it depend on consumer spending? Is it at all related to real-estate?

In my case, I decided to work in higher education. About as recession-resistant a gig as they come *and* its one of the few things we are still competitive in on a global scale.

If you have debt, consolidate it then get rid of it. If you have any dollar denominated assets or real estate, sell them. Get in gold, hard currencies or foreign bonds. If you want to speculate, short the RE and financial sectors.

If you need to commute, consider renting near enough work to bike or take public transit. Thats what I do. The savings are huge, plus if I have problems with my car, I can wait till the weekend or a telecommute day to fix them. I don’t have to waste money on a rental.

In general, much of what we are going through is due to an extended national period of over-consumption. And for better or worse, many Americans are going to be forced into a starvation diet. Get ahead of the game and practice under-consumption.

Some things I do:

30% of income to either debt reduction or saving/investment.
Skip one meal a day
Strict weekly budget
Nothing on credit, cash only
Eat vegan a few days a week
Drink water only
Have a ‘simple year’, no big purchases and focus on de-cluttering for a full 12 months

I’m reasonably sure that a few years from now, the used goods market will as big or bigger than retail. Prepare now and enjoy the deflation while you can!

[kewp]

That said, it sure would be nice if those with better historical (hysterical??) sense would weigh in with specific recommendations.

Well, I’m not claiming to have any more historical sense than the next guy, but as I’ve been planning for this since ’05 I’ll share some of my experiences.

First off, think of the basics. How do you make your money? Is your job recession-resistant? Does it depend on consumer spending? Is it at all related to real-estate?

In my case, I decided to work in higher education. About as recession-resistant a gig as they come *and* its one of the few things we are still competitive in on a global scale.

If you have debt, consolidate it then get rid of it. If you have any dollar denominated assets or real estate, sell them. Get in gold, hard currencies or foreign bonds. If you want to speculate, short the RE and financial sectors.

If you need to commute, consider renting near enough work to bike or take public transit. Thats what I do. The savings are huge, plus if I have problems with my car, I can wait till the weekend or a telecommute day to fix them. I don’t have to waste money on a rental.

In general, much of what we are going through is due to an extended national period of over-consumption. And for better or worse, many Americans are going to be forced into a starvation diet. Get ahead of the game and practice under-consumption.

Some things I do:

30% of income to either debt reduction or saving/investment.
Skip one meal a day
Strict weekly budget
Nothing on credit, cash only
Eat vegan a few days a week
Drink water only
Have a ‘simple year’, no big purchases and focus on de-cluttering for a full 12 months

I’m reasonably sure that a few years from now, the used goods market will as big or bigger than retail. Prepare now and enjoy the deflation while you can!

[kewp]

That said, it sure would be nice if those with better historical (hysterical??) sense would weigh in with specific recommendations.

Well, I’m not claiming to have any more historical sense than the next guy, but as I’ve been planning for this since ’05 I’ll share some of my experiences.

First off, think of the basics. How do you make your money? Is your job recession-resistant? Does it depend on consumer spending? Is it at all related to real-estate?

In my case, I decided to work in higher education. About as recession-resistant a gig as they come *and* its one of the few things we are still competitive in on a global scale.

If you have debt, consolidate it then get rid of it. If you have any dollar denominated assets or real estate, sell them. Get in gold, hard currencies or foreign bonds. If you want to speculate, short the RE and financial sectors.

If you need to commute, consider renting near enough work to bike or take public transit. Thats what I do. The savings are huge, plus if I have problems with my car, I can wait till the weekend or a telecommute day to fix them. I don’t have to waste money on a rental.

In general, much of what we are going through is due to an extended national period of over-consumption. And for better or worse, many Americans are going to be forced into a starvation diet. Get ahead of the game and practice under-consumption.

Some things I do:

30% of income to either debt reduction or saving/investment.
Skip one meal a day
Strict weekly budget
Nothing on credit, cash only
Eat vegan a few days a week
Drink water only
Have a ‘simple year’, no big purchases and focus on de-cluttering for a full 12 months

I’m reasonably sure that a few years from now, the used goods market will as big or bigger than retail. Prepare now and enjoy the deflation while you can!

[kewp]

That said, it sure would be nice if those with better historical (hysterical??) sense would weigh in with specific recommendations.

Well, I’m not claiming to have any more historical sense than the next guy, but as I’ve been planning for this since ’05 I’ll share some of my experiences.

First off, think of the basics. How do you make your money? Is your job recession-resistant? Does it depend on consumer spending? Is it at all related to real-estate?

In my case, I decided to work in higher education. About as recession-resistant a gig as they come *and* its one of the few things we are still competitive in on a global scale.

If you have debt, consolidate it then get rid of it. If you have any dollar denominated assets or real estate, sell them. Get in gold, hard currencies or foreign bonds. If you want to speculate, short the RE and financial sectors.

If you need to commute, consider renting near enough work to bike or take public transit. Thats what I do. The savings are huge, plus if I have problems with my car, I can wait till the weekend or a telecommute day to fix them. I don’t have to waste money on a rental.

In general, much of what we are going through is due to an extended national period of over-consumption. And for better or worse, many Americans are going to be forced into a starvation diet. Get ahead of the game and practice under-consumption.

Some things I do:

30% of income to either debt reduction or saving/investment.
Skip one meal a day
Strict weekly budget
Nothing on credit, cash only
Eat vegan a few days a week
Drink water only
Have a ‘simple year’, no big purchases and focus on de-cluttering for a full 12 months

I’m reasonably sure that a few years from now, the used goods market will as big or bigger than retail. Prepare now and enjoy the deflation while you can!

[34f3f3f]

Kewp, there was an interesting article in the NY Times about exporting education, and the figures are big. I’d want to be careful in which country I set up my University though. Warren Buffet was asked what tips he’d give young entrepreneurs, and one of them was don’t use credit cards. The trouble with selling dollars and buying others currencies or assets is that the dollar is already weak. I like the idea of under-consumption, but it needs a more marketable title, something like the value-sum-game, a kind of trend-setting fad to occupy the mind during those long evenings when you sacrifice cable TV. The only thing I couldn’t do is ‘drink water only’. Got to have that mandatory glass (or two) of wine.

[34f3f3f]

Kewp, there was an interesting article in the NY Times about exporting education, and the figures are big. I’d want to be careful in which country I set up my University though. Warren Buffet was asked what tips he’d give young entrepreneurs, and one of them was don’t use credit cards. The trouble with selling dollars and buying others currencies or assets is that the dollar is already weak. I like the idea of under-consumption, but it needs a more marketable title, something like the value-sum-game, a kind of trend-setting fad to occupy the mind during those long evenings when you sacrifice cable TV. The only thing I couldn’t do is ‘drink water only’. Got to have that mandatory glass (or two) of wine.

[34f3f3f]

Kewp, there was an interesting article in the NY Times about exporting education, and the figures are big. I’d want to be careful in which country I set up my University though. Warren Buffet was asked what tips he’d give young entrepreneurs, and one of them was don’t use credit cards. The trouble with selling dollars and buying others currencies or assets is that the dollar is already weak. I like the idea of under-consumption, but it needs a more marketable title, something like the value-sum-game, a kind of trend-setting fad to occupy the mind during those long evenings when you sacrifice cable TV. The only thing I couldn’t do is ‘drink water only’. Got to have that mandatory glass (or two) of wine.

[34f3f3f]

Kewp, there was an interesting article in the NY Times about exporting education, and the figures are big. I’d want to be careful in which country I set up my University though. Warren Buffet was asked what tips he’d give young entrepreneurs, and one of them was don’t use credit cards. The trouble with selling dollars and buying others currencies or assets is that the dollar is already weak. I like the idea of under-consumption, but it needs a more marketable title, something like the value-sum-game, a kind of trend-setting fad to occupy the mind during those long evenings when you sacrifice cable TV. The only thing I couldn’t do is ‘drink water only’. Got to have that mandatory glass (or two) of wine.

[34f3f3f]

Kewp, there was an interesting article in the NY Times about exporting education, and the figures are big. I’d want to be careful in which country I set up my University though. Warren Buffet was asked what tips he’d give young entrepreneurs, and one of them was don’t use credit cards. The trouble with selling dollars and buying others currencies or assets is that the dollar is already weak. I like the idea of under-consumption, but it needs a more marketable title, something like the value-sum-game, a kind of trend-setting fad to occupy the mind during those long evenings when you sacrifice cable TV. The only thing I couldn’t do is ‘drink water only’. Got to have that mandatory glass (or two) of wine.

[Aecetia]

You can also brew your own beer if you do not want to drink water: http://www.wikihow.com/Brew-Your-Own-Beer

[Aecetia]

You can also brew your own beer if you do not want to drink water: http://www.wikihow.com/Brew-Your-Own-Beer

[Aecetia]

You can also brew your own beer if you do not want to drink water: http://www.wikihow.com/Brew-Your-Own-Beer

[Aecetia]

You can also brew your own beer if you do not want to drink water: http://www.wikihow.com/Brew-Your-Own-Beer

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