How many of you here are IMMUNE to this economic disaster?

[OwnedByFerrets]

I know our business is down with no end of it in sight. My father-in-law lost his job last week. Many of my friends are feeling this economy in a very bad way.

I have hope that, in time, a new democratic administration will stave off this disaster to some extent, but in the meantime, millions will be and are at risk of losing their jobs, their homes and probably their lives. Most of the people I know are living on the edge right now. Any nudge will send them into a tailspin. If one loses a job, the government isnt going to be there to keep them above the waterline. What do you do when you are foreclosed on? Where do you go? How do you feed your family? This is bad folks.

I am very very worried.

Are any of you immune to this disaster?

[LaurenG]

1. Not me, I wish I had been immune or at least vaccinated against this.

:(

[seemslikeadream]

2. If you are not worried you have not been paying attention

[DJ13]

3. Theres no one who will be immune

Seriously, unless someone lives in a wooden shack growing their own food and never buying anything from a store, theres no way not to be impacted.

[akwapez]

18. Even that person in the shack is not immune...

It all depends on how bad it gets. But as unemployment goes up so does the crime rate, so shack-person is still at risk from the fallout of this disaster.

[wvbygod]

41. But a tribe of shack dwellers armed to the teeth can survive

Anything short of government troops coming to steal their food.

[gollygee]

4. I don't see how anyone can be immune

My husband's workplace provides an essential service, so I hope his job is safe. Though there really is no such thing as job security anymore.

And inflation still hits us. Also, we'd better not need the 401k anytime soon because it isn't currently worth much.

I know a lot of people who are really hurting badly lately. Lost jobs, can't afford to keep homes, can't afford groceries (even with food stamps) and the food banks can't keep up with demand.

[dysfunctional press]

17. nurses and civil servants are both pretty safe bets overall...

nt

[Donnachaidh]

21. not at all

Brother works for NY State, and has lots of seniority. However, the State is looking to start cutting, with rumblings of potentially closing down his section entirely.

All bets are OFF, and we haven't come close to hitting bottom yet.

[dysfunctional press]

24. patrol cops, mailmen, firefighters- THOSE types of civil servants.

pencil-pushing bureau-crats, not so much.

if it's the kind of work that can be automated or off-shored- it probably will be.

[seaglass]

46. Unfortunately not. My husband is a FF and we just laid off 3 FFs

this summer and closed a Fire Station. The Town Manager has charged each dept. with cutting another 5% of their budget which can mean 2 more stations closing and 4 more FFs laid off. Cops and Teachers facing lay offs too. This does not include any cuts based on Q1 passing which is elimination of the income tax in MA (so far it is not expected to pass).

My husband likely will not get laid off because of his seniority but the proposed cuts will really hurt.

[ACTION BASTARD]

51. NYS employee too

I work for the office of mental health (forensic psych patients)with 13yrs on the job. I'm fairly secure here, but the union allows bumping so... Still, things would have to get really, really BAD for that to start happening.

Good thing we just hired 3 new jacks and we still need people. Thank FSM for civil service.

[gollygee]

25. They'll still have to deal with inflation, if they have any investments

those will still lose value. They might not lose their jobs but they aren't immune to nationwide economic problems.

ALSO - they are still prone to getting laid off and having cheaper (no seniority) people hired to take their places.

[DemoRabbit]

5. No way - could be laid off anytime

The company I work for is in bad shape. We're on a skeleton crew now with mandatory 50-hour work weeks (for salaried employees). I took a part-time job on top of it just in case I get laid off at least I'll have SOME income. Not what I want to be doing at nearly 40 years old!

[CoffeeCat]

6. We are doing everything we can to PREPARE...

...at this point--no one is immune.

We're in a precarious situation, because my husband's job is nuts. He works for a high-tech
start-up. He's survived four rounds of lay-offs, and the company being purchased. It's like
a giant roller-coaster ride. The company is 100 percent backed by venture capital. My husband has
worked there for 7 years, but we both understand that it could end today.

I'm a stay-at-home mom--and I'm going to be seeking some kind of employment, in case his job tanks.

We have cut back on EVERYTHING. We pared down our budget. I canceled magazines, newspapers, health-club
membership, one cell phone. We're down to mortgage and utilities. I make my kids lunches. We go for walks
and to the park, instead of to the mall or to the movies.

We have a stockpile of food, paper goods and other essentials, that could last us 3-4 months. The money we
save each month (and we're pinching major pennies) is going into a cash fund at home.

I live in the suburbs, and most of the friends in my area are hunkering down as well. Most of these
people are either one- or two-income families who make six figures. They're scaling back and paying
off debt, and cutting down on everything.

[Two Americas]

7. hit hard

Hit very hard here.

[RoseMead]

8. We're not immune

But I hope that maybe my family might already be poor enough that it won't affect us as much as it might affect our better off neighbors. Some of the things that seem to scare people, like job loss, having utilities cut off, not knowing how you're going to pay for next week while you scrape to get through this one - we've been living that way for years.

In fact, we're now in the middle of our third week without water. Service was shut off on the 10th(and they took the meter out because they know that if they don't, we'll just turn it on again). The bill was paid on the 15th, but the water company still hasn't come to turn the fucker back on yet.

I figure that we can go almost a month without water at home, and survive, we can survive alot more.

[stillcool]

9. I'm not immune to anything...

but I decided long ago I would not be a good parent, and never had children. I think that is the only reason that my fear is not at the level so many others are experiencing. For me, life goes on until I die, and it's that simple. I refuse to be more afraid of life than I am of death. Easy for me to say.

[OPERATIONMINDCRIME]

10. I'm Fortunate In That I'm Relatively Immune To This Disaster.

I have just about 0 risk of losing my job, have good income, good equity in my house, and good health insurance.

[bobbolink]

11. I was already homeless and having no hope.

Not much further to fall after that.

[RoseMead]

14. Hang in there, bobbolink.

:hug: We keep hoping things will get better. I hope things get better for you, too.

[bobbolink]

56. Thank you for your kind thoughts.

However, there can be no "hope" without action.

We desperately need kind-hearted people like you to speak up and take action.

Otherwise, nothing changes.

[OwnedByFerrets]

28. I am so sorry.....wish we could help you.

[bobbolink]

55. Thank you. Actually, you can.

We have no voice.

We need people like you to speak up!

That would be the biggest help.

A grassroots homeless group did a study, and published a report showing that "progressive" media IGNORE the issue of homelessness. It certainly confirmed what I know from my experience--- both in the media, and what I see right here on DU.

So, what you can do, and it would receive my deep gratitude, is to start DEMANDING that all "progressive" media start publishing REAL, DEEP INFORMATION... so that people actually UNDERSTAND the issue of homelessness.

We need to stop tolerating the ignorance, and the ignoring of homeless people.

You wouldn't believe the amount of ignorance and prejudice I put up with on a daily basis.

You can help with that.

Call in to "progressive" talk shows and start demanding they talk about WHY homelessness is so prevalent. NO, not because we're alkies and druggies, etc., but because OF THE LOW-INCOME HOUSING CRISIS, which has gone on for DECADES and been ignored.

There is so much information that people dont' know.

It's time progressives take it seriously.

Will you help?

[stray cat]

12. Is anybody posting on the site dead?

[a la izquierda]

13. I am as immune as I can be right now...

I'm a graduate student. I don't own anything but my car and a boatload of student loan debt that is not payable until I'm done with school, which won't be for about 1.5 years. My husband's job is relatively secure, as is mine (I get paid by the university). We both have health insurance and thankfully, no children. We ride this out.

Oklahoma has been weathering the storm fairly well. We have not had the housing collapse hit nearly as hard as many other places.

We're very fortunate. We do not have the worries right now that 90% of the country has.

[JuniperLea]

15. I've lost over $200k in home equity and retirement investments...

I'll be working until I'm 80.

Fortunately, I have a great job. That's my one silver lining.

[rcrush]

16. I'm never getting married

I was never a big fan of getting married in the first place but now I really dont see the point. Getting married and having kids and going in to debt for the rest of my life doesnt sound like a super future to me.

[SmokingJacket]

53. Actually, getting married -- or just partnering up with someone --

can make surviving hard times easier. You share expenses and have someone to cover you when you're out of work. Getting married doesn't have to mean being in debt...

And my kids have been a source of pleasure and meaning while my work life has been crap. Thank god I have them, or I'd be even more depressed!

Obviously, the domestic life isn't right for everyone, but I don't think it should be rejected JUST for financial reasons!
:hi:

[madrchsod]

19. my wife`s job is secure,

i have O outlook on a job after my rehab is done,my daughter`s 48 hr per week job in the auto sub assembly plant could be iffy in the near future. my son`s jobs are secure but subject to fewer overtime hours.

dirt cheap house payments and no credit cards.we have been through several of these downturns so it`s nothing new..

[DangerDave921]

20. I'm not immune

Our portfolio is down about 40% this year. This is our retirement savings and our college accounts.

[Pakhet]

22. I'm circling the drain as we speak n/t

[scheming daemons]

23. I work at a government D.o.D. lab... I think my job is pretty safe....

Not so for my wife.

[dethl]

26. I'm in the process of being hired

I'm current a student developer (we do work for the Army Research Labs) and am currently in the process of getting hired into a full-time slot. For the most part I haven't had too much trouble so far.

That said, I continue to worry about the economy as a whole and about others who are less fortunate than I.

[OwnedByFerrets]

27. Congrats on your new position....good luck in the future.

[Better Believe It]

29. Layoffs Coming Monday Where My Wife Works

The last time they had layoffs was in 1981. This one will affect a little over 10% of the workforce.

And across the board paycuts may be forthcoming soon.

[dethl]

50. Ouch, I'm sorry to hear that.

[Karenina]

30. Very few on this globe are immune.

Remote populations that are self-sufficient and have evaded corporate encroachment, mebbe.. Wonder how many there are. :shrug:

[hamsterjill]

31. None are immune

But some are foolish enough to think that they are.

I am not one of those and this concerns me on a daily basis.

[CoffeeCat]

52. I think you are smart for having that attitude...

We live in uncertain times. Plus, we've still got a few months left of Bush and the neocons.
Can anyone say that those thugs would act in our best interests, as they release their grip
on power?

I think everyone should be preparing for the perfect economic storm. Save some cash at home--even
if it's just $10 every paycheck. Stockpile some food and other essentials. If the storm comes and
goes--you won't be hurt because you set some money aside and have some extra canned goods and toilet paper.

However, if things go seriously to hell (which is entirely possible) and you haven't done these things--
that could be very bad. And you'll suffer for it--and if you have family, they'll suffer too.

I'm not freaking out, but we are currently living as though we're preparing for really
difficult times.

Hamsterjill, I think it's good that you are concerned and that this stuff is on your mind. Like you,
I think about this every day too.

[slackmaster]

32. I consider myself to be at least psychologically immune to some of its effects

There is approximately zero chance of me getting foreclosed on. Even with stocks in the tank I still have substantially more worth of investments than the payoff balances of my two mortgages.

I could certainly lose my job. That has happened to me several times in the past, and it never destroyed me.

Frankly I can't imagine any economic situation having anywhere near the devastating effect on me that other damaging life events have had.

[NNN0LHI]

33. Not me. I do not feel immune

I am worried my retirement and company paid medical benefits continue.

Real worried.

Don

[jesus_of_suburbia]

34. I could be in trouble, but I'm lucky that I could always move in with my parents if need be,

That would be a last resort though, because my parents are nothing like me.

[ThomWV]

35. We are about as close to immune as you can get

We have no debts and we live comfortably off of a federal Government pension and Social Security. We are both old enough that we will be dead before the social security system collapses. We have savings (investments) which have declined in value considerably but we have never had to tap them and expect them to return in value before we have any reason to. So for the most part we are immune to everything other than inflation.

[baby_mouse]

36. I'm pretty well insulated, I must say.

I do clerical work for the NHS in Scotland. It's the most secure job in the world. Its not very well paid, but I don't have a large number of expenses.

[Mike 03]

37. I'm terrified, but well insulated--but much of it is luck in my case

First of all, I got lucky and bought a house in 2002, right before the proliferation of these high-risk mortgages and the wide dispersal of the mortgage backed securities, CDOs and swaps.

Secondly, I read a book way back in the early 2000s called "The Dollar Crisis" that discussed the danger of the current account deficit and what might happen to the U.S. dollar if we continued on our path of reckless consumption. That worried me a lot, and at that time I totally revised my investment strategy, remaining more than 50% cash and investing only in tangible assets like oil, oil services stocks, energy, Canadian oil sands stocks, steel, gold, aluminum, water purification, agricultural necessities, AAA rated high yield bonds, and cash equivalents like the money market funds.

I was probably too conservative, because we did have a nice two or three year bull really amidst a secular bear market.

But it was pretty obvious to me (and I was not so much worried about the mortgages as the derivatives and enormous leverage generated by mbs and hedge funds--and I still think coping with these issues looms ahead and that the subprime mortgage issues are the least of our worries) that this was a shifting bubble that had to deflate at some point.

I've definitely lost money in the market, though not as much as some.

More than that, though, I'm watching my town turn into a ghost town. I'm watching my street turn into a sad procession of foreclosed homes. I'm watching my grocery bills become absolutely ridiculous. I'm watching small businesses vanish overnight.

I don't know anyone who is not affected in some way, even if he or she remains relatively financially-well sustained. Your friends struggle. The world around you struggles. And this is going to get worse.

[depakid]

38. No one is immune

Anyone who thinks that they are is deluding themselves.

[trof]

39. Somewhat immune.

I'm retired and the stocks I own have cratered.
But I have enough in MM fund to live on for 4-5 years.

[slampoet]

40. I am Highly resistant.

But only because I am willing to go back to dumpster diving and stealing for a living.

[EFerrari]

42. I just took my home out of foreclosure and hope to keep it there.

But, it's anyone's guess if I can.

[ThePowerofWill]

43. Pretty close if not for health care.

I own a large farm so i will eat. I owe no money, plenty of cash on hand. However i do still keep my public job because of insurance. While i might be semi ok we all know without insurance i am one illness away from trouble. Also i can also fall back to growing dope if i have to. Yet even that requires i stay somewhat healthy.

[GinaMaria]

44. I don't know anyone who is immune

There are some things that can cushion you a bit, but they are the obvious like pay down your debt, only use cash not credit etc. I'm not aware of any immunity. Others here may have some better tips for you. Wish I had a magic solution for you :-/

What is your support network like? If something happened could you move in with friends or family until you got back on your feet? Do you know anyone with a summer home or condo? They may be willing to lend it to you during the cold months. These are just some ideas off the top of my head. I always feel better if I make contigency plans. Wish I had something better to offer you :-( sending you a hug

[earth mom]

45. Hubby has a very secure union job, but I don't feel immune. Not with the * cabal still in office

and not after witnessing all their crimes and how they've let this country go to hell in a hand basket in a very short time. I think what they've done has been planned for longer than the bastards have been in power, and I really don't they are done with us yet, if ever.

Once they have sold off everything that isn't nailed down-water, national parks, bridges, roads, ports, postal service, schools and force this country to be part of the North American Union will they appear to be finished. Except they won't be finished really, because their work won't be done until the masses are all living as peasants, serfs, even slaves at their mercy.

:grr:

[benld74]

47. WE as a people are ALL affected in some form or another,,

some more than others, some countries more than other countries. It will take a long time to dig out of this mess. I find it unbelievable, but it happened. Best thing in my opinion is to retroactively reverse ALL the Bills passed by Congress which led up to this fiasco to make sure it NEVER happens again. The rich are still getting richer, and the individuals who cannot afford an losses are getting stuck with them.

[FatDave]

48. Well, I have no investments to worry about losing.

I worry about my job, but as a programmer, that's nothing new.

[Orsino]

49. No one is.

* may climb into his Paraguayan spider-hole come February, but he will still feel the effects. Those of us left in Real and Fake America will remain heavily interconnected, and especially vulnerable.

[Ex Lurker]

54. it hasn't affected me yet but I expect it to eventually. n/t

[TxRider]

57. I think none are immune...

I'm not going to be hurting. Even if it kills my business and I have to find work I'll be ok..

But then I have always lived a debt free existence for the most part. The only debt I have is my mortgage.

I buy my vehicles cash, I buy appliances cash, I haven't used a credit card in about 20 years.

I've saved 10% of my income per month for over a decade..

So while not immune, I don't worry very much.

The other benefit, is that buying cash leaves no data trail for insurance companies, mortgage companies or anyone else to use against you. It's common knowledge your information on credit card/debit card purchases are logged and used for purposes you would never expect..

[Wiley50]

58. I'm on SSI and Medicaid so I'm already almost scraping bottom, unless McInsane steals it

Matter of fact, I'm due for a 5% COLA in January, the biggest in memory.

We better win this election or I'm gonna start panicking bigtime

I went through loss of job, foreclosure and divorce between 2000-2002

[erinlough]

59. No...my 57 year old husband was laid off Friday

We are in pretty good shape with few bills and a little money, but retirement just got 15 years away (if my health holds out). So what, I'm sick of worrying about it, sick of thinking about it. I want to keep my family afloat and I will be creative about doing it. I will survive.

[OwnedByFerrets]

60. So very sorry to hear that....my thoughts are with you and

all those who are in desparate need. Surviving ISNT what America should be about.

[Leftist Agitator]

61. I have no assets of which to speak, thus...

I am utterly immune, aside from the whole "No job prospects" thing.

[AnnieBW]

62. We got nailed by the tech downturn in 2001

And we took measures so that it wouldn't happen again. I work for the Federal Government, and my husband is a contractor with the Federal Government. Our jobs are pretty secure - mine more than his, but he's in network security.

That being said, my Thrift Savings Plan lost $8000 this past quarter. :( But we're better off than most.

[alittlelark]

63. Relatively immune here

Due to high $$$ and a few good investments.

[1awake]

64. I am not immune.. but maybe fairly well insulated

My house is paid off, car paid off, no credit card balances, and only have utilities each month. I am 35 and have substantial amounts invested, but I am pretty diversified. Because of my age, I will have little issue riding this out. I also.. just in case, stocked up on large amounts of canned/dry goods in case things get much worse than I believe they will, and informed my accountant that should things go contrary to what we both feel will happen with the market, I will hold him personally responsible and set up home base in a tent in his front yard.

[Bigmack]

65. I figure SocSec is a safe bet...

The govt can just print the checks. Good way to ensure money gets pumped into the economy. Not much, but at least it's a cushion.

State pensions? In the Depression, the banks discounted the checks from the state, but retirees still got some bucks.

Inflation? Shiiiiit, nobody is immune... nobody is safe.

Krugman says we're still going down... but what does he know. He only won the Nobel in Econ.

[roody]

66. We can all live 3 days more or less without water.

[Jed Dilligan]

67. I saw it coming and specialized in poverty.

If I'm actually good at what I do, and the reviews have been good, I imagine I will be employed.

[JCMach1]

68. Unless oil drops to about 15$ a barrel for a long period, I am just fine.

Although I suppose the economy will crash enough here that we might only see 5-6% growth this year.

The U.S. economy has been smoke and mirrors for years... real growth looks very different... Every time I visit home during the Bush years I haven't noticed growth... Instead what I see is further decay... :(