6. "You have to KEEP YOUR JOB" In response to Reply # 0 Wed Aug-14-19 06:02 PM by handle
>we all keep hearing its coming. what are some practical >things people should be doing incase it does happen??
Whatever it takes you have to keep working.
If you can do that then you'll come out fine unless you have a lot of money in the market.
Pay off bills now.
Save as much money as you can.
If you have money in the market it might be a good time and put it in the least risky areas right now.
Also, it'll feed the recession but don't buy a car or a house right now - those will get cheaper during the recession.
if you keep your assets up then you can buy stocks or real estate DURING the recession which will rebound after the recession ends.
We should have been in a recession already but the wall street idiots felt super sunny about Trump - now they realize he's fucked up and they are swinging equally the opposite way - like the manic-depressive scumbags they are at their core.
7. "yup propping up the economy with those corporate stock buybacks." In response to Reply # 6
>We should have been in a recession already but the wall street >idiots felt super sunny about Trump - now they realize he's >fucked up and they are swinging equally the opposite way - >like the manic-depressive scumbags they are at their core.
this is why the media parroting the 'booming economy' narrative is journalistic malpractice. job growth is slowed, wages are stagnant, record farm bankruptcies, record student debt, record car loan delinquencies, manufacturing is already in a recession...but the stock market (propped up by companies basically paying themselves) is doing relatively well (and still growing less than under clinton/obama).
13. "RE: You have to KEEP YOUR JOB" In response to Reply # 6
>>we all keep hearing its coming. what are some practical >>things people should be doing incase it does happen?? > >Whatever it takes you have to keep working. > >If you can do that then you'll come out fine unless you have a >lot of money in the market.
knock on wood on that one. is there something people can do improve the chances that they will have a job through a recession?
> >Pay off bills now. > >Save as much money as you can.
how do you do both? which is more important if you have to chose one? is all debt equal? is there some debt you should do everything possible to pay off while other type you pay the minimum or maybe even skip payments on in this scenario?
> >If you have money in the market it might be a good time and >put it in the least risky areas right now.
if you have money in the market, is it better to move it to less risky areas and take some hit instead of taking it out?
> >Also, it'll feed the recession but don't buy a car or a house >right now - those will get cheaper during the recession.
should you refinance either right now or wait for the recession?
> >if you keep your assets up then you can buy stocks or real >estate DURING the recession which will rebound after the >recession ends.
i wonder how that will go this time around. i know a lot of people came up this way during the last one. it feels like this is common knowledge now so there may be more people looking to do this or the same amount of people buying up more this time around.
> >We should have been in a recession already but the wall street >idiots felt super sunny about Trump - now they realize he's >fucked up and they are swinging equally the opposite way - >like the manic-depressive scumbags they are at their core. > >
17. "RE: You have to KEEP YOUR JOB" In response to Reply # 13
>knock on wood on that one. is there something people can do >improve the chances that they will have a job through a >recession?
You have to become a fucking SUPERSTAR who kisses A LOT OF ASS. So when they start laying off people they'll be "I like this guy - let's cut someone else."
AND become more efficient, learn a lot of new stuff. It's tough, but it could help. (And learning new stuff helps if you get laid off.)
>>Pay off bills now. >> >>Save as much money as you can. > >how do you do both? which is more important if you have to >chose one? is all debt equal? is there some debt you should do >everything possible to pay off while other type you pay the >minimum or maybe even skip payments on in this scenario?
That depends entirely on your situation. If you have a $20,000 on a credit card with a 26% rate - then paying that off is probably more important than saving every dime.
But you *can* live with debt - you can't live without money. If you are laid off: Money in the bank is better to have than 0 debt. You can pay bills with money, bills liek rent and food,etc.
What I did last time I could is I got a BUNCH of cheap credit cards from my credit union. They have low rates and I've got like 50k in credit. I literally have 0 balance on it - but if I got laid off I'd use it to pay bills then slow pay the credit cards back. It'd be expensive but paying interest is easier than paying rent out of pocket sometimes. it's my hedge.
>>If you have money in the market it might be a good time and >>put it in the least risky areas right now. > >if you have money in the market, is it better to move it to >less risky areas and take some hit instead of taking it out?
Well taking it out and putting it in a savings account is like losing money. So I mean go with very safe investments, maybe CDs or bonds - anything beats a savings account.
>> >>Also, it'll feed the recession but don't buy a car or a >house >>right now - those will get cheaper during the recession. > >should you refinance either right now or wait for the >recession?
If you refi for the same amounts and the fees you pay to refinance make sense then refinance anytime you can.
It's just what I did - if you can take more risks you can get more rewards - but I'm risk averse.
9. "Dogg the myth of fiscal conservatism may be the worst of all." In response to Reply # 8
All my repub acquaintances parrot that bullshit like it has any semblance of truth to it.
>have ended in a recession or worse. > >republicans increase the deficit while in office. democrats >decrease it. > >even donald trump (when he wasnt running for office) admitted >that the economy does better under democratic presidents. >https://www.forbes.com/sites/realspin/2016/11/07/trump-is-right-about-one-thing-the-economy-does-better-under-the-democrats/#5ac90af36786 > >there shouldnt even still be widespread belief in hoaxes like >fiscal conservatism and deregulation as an economic stimulant >or job growth mechanism. > >i dont even know how shit like that still gets reported like >fact. >
10. "RE: democrats should be out yelling that 9 of the last 10 repub presiden..." In response to Reply # 8
>republicans increase the deficit while in office... > >there shouldnt even still be widespread belief in hoaxes like >fiscal conservatism and deregulation as an economic stimulant
IOW fiscal conservatism is never tried and never works.
legsdiamond Member since May 05th 2011 79586 posts
Thu Aug-15-19 08:41 AM
12. "I just got a personal loan to consolidate some debt" In response to Reply # 0
I’m aggressive paying this joint off and saving thousands in interest.
I’ve been slammed at work but I need to commit some real time to this side hustle. Might throw a few marketing dollars at it to see if there is an uptick. Originally I was thinking about the extra money I could make installing vinyl at small businesses but time isn’t on my side with little ones.
I have my personal website for my portfolio but I need to redesign it so it’s a legit marketing engine for more work.
The wife has 3 more car payments
Our strategy is attack debt nonstop. Find as many ways as possible to reduce the money going out.
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
14. "i think i might do this" In response to Reply # 12
i did it earlier in the year to consolidate some debt and it has been good so far. i keep getting offers to open new accounts but i keep ignoring them. same with offers to refinance my car. one month in i thought this is stupid. is 6 months in better? i think i might find out what terms they are offering to see if it makes sense to do.
legsdiamond Member since May 05th 2011 79586 posts
Thu Aug-15-19 10:41 AM
15. "You have to check the fees" In response to Reply # 14
and interest paid back over time to make sure you aren’t trading out for more debt.
With mine I was able to get a lower interest, it adds on more time but there are no penalties for paying it off early. I’m going to aggressive pay this off but if something came up one month I can still make the minimum payment.
Wife is looking at a few zero interest CC’s to consolidate.
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
legsdiamond Member since May 05th 2011 79586 posts
Thu Aug-15-19 12:51 PM
20. "Word!!! I got a tip from Credit Karma to pay $30 before amortization " In response to Reply # 18 Thu Aug-15-19 01:08 PM by legsdiamond
and my credit jumped like 20 points.
Good tip. I haven’t even started repaying and I’m looking for this so I can knock it down faster.
Crazy how it works.
Wait. I just watched the video and this is a lil different than I was thinking. I’m still going to try and make this formula. I was just going to pay an extra $100 or $200 every month along with the minimum. Does the date matter when it’s paid?
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
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