I work in a pretty reliable industry. My job is one of the last ones that will disappear in a financial crisis.
I'm not rich, but I earn a comfortable living.
My credit rating is gold plated, I have financed just about every large purchase I ever made for the last 20 years, have a mortgage, and have never missed a payment on anything.
I don't have a credit card, I have a Visa card that debits straight out of my account. It's a joint account with my wife.
Bought a new car in November. Sits beside my 11 month old motorcycle under the carport.
I can state that the recession means absolutely ZIP to me. My house hasn't increased in value for 2 years, but who gives a shit, I'm not moving. In 5 years time it'll all be over and I'll just watch the value start creeping up again.
I began a high paying job the same month as Bear Stearns went TU, the Great Depression II has scared me enough that we've saved 100% of the money from that job while the wife supports us, and house prices have dropped 25-50%.
Now,if Barrett-Jackson auction prices would just go do by the same amount, I'd buy a cool car and all would be well in the world.
Posted 1/6/2012 3:15 pm
Exactly your just like me my house is paid for I own 6 autos all but two paid for, don't give a shit about my home value either, economic crisis is a hoax.
Around these parts, the main effect appears to have been a slightly increase in freeway offramp beggars (by 'slight' I mean a couple more) and the construction workers and RE agents I know have had a tough go.
In the case of the real estate agents, I could give a shit of course.
Where this all gets interesting now is that the country is at a good starter point for truly tough times instead of the BS, 1981 or so, times we are in now. People have burnt up savings, and the structural problems are still there.
Personally, I've been getting ready for this for years, so the tricky part will be navigating the upcoming storm. It's all about asset protection at this point, it might be time to think about going to ground by leaving CA and going back to a rural, Western area.
Other than the car-port (I have single family home with 2 car garage) this exactly describes me. Job secure, $90K salary, company rock solid, cash in the bank and growing every two weeks, stock portfolio rising, home nearly paid off.
I don't know how this all happend, but within a few years I'll be able to buy brand new car, go on holiday where i want etc.
