Is everybody strapped in and hunkered down for a lengthy recession?

[Virginia Dare]

I guess it's worth it if it means the final death knell of Reaganomics. I started my working career in the middle of Reaganomics, finally got to the point where I've built up a comfortable little nest egg, and now it comes back to bite me on the ass again. But this time, I came prepared. I've been expecting this for two years, so I'm ready to hunker down and weather it.

How are you all doing, are you preparing to head into the bunkers?

[slackmaster]

1. I managed to make it through the last two significant recessions without going into a bunker

The last three if you count the collapse of the dot com bubble, which ended up costing me my last job after eight years at pretty good pay.

I plan to keep working until my job evaporates. If that happens, I'll find something else to do.

[snappyturtle]

2. Been in the bunker for some time now. nt

[Tierra_y_Libertad]

3. Just as long as there is coffee and cigs, I can survive the latest "catastrophe".

[Virginia Dare]

5. Stock up now then..

I expect we'll see shortages of some type before it's over. Hopefully not liquor, cigs, or coffee though.

[Tierra_y_Libertad]

8. Well, they saw me through a lot of the previous "End of Civilization" threats.

I figure if I could survive the Millennium Bug, The Takeover of the United States by Commies, and the various "Asteroid Will Wipe Out Life", catastrophes, this one is small potatoes.

[Warpy]

4. I never really trusted the money I inherited

and really didn't change my lifestyle. My income has accumulated and in order not to be completely embarrassed by my extreme frugality, lent out at Kiva and Grameen as loans in the third world.

My thrift shop clothing went to rags, so I've replaced a lot of it. However, none of it is particularly posh.

[Virginia Dare]

6. I know, this is one time I'm glad I married a cheap bastard...n/t

[tosh]

10. LOL, I was just singing praises for my MIL on Sunday,

for probably the first time ever. She was more deeply affected by the Great Depression than were my own parents (both children of farmers who owned their land outright but not so much money in banks/investments).

We have followed her policy of living debt-free. We are not as frugal as she has been but we don't live extravagantly either.

I think we'll be okay BUT our dream of affording a switch to less-demanding, more-rewarding jobs will probably take longer to realize.

[dhpgetsit]

7. Financially I'm not ready for shit.

But I still have fairly good health and willingness to work. I just hope the political climate improves enough that I can get some kind of health care coverage.

[adigal]

9. What have you done?? I want to do it.

Tell us what you have done, please!

[Virginia Dare]

11. Got out of debt mainly..

I'm not carrying any loans at all right now, saved most of my cash, and for the most part invested in bonds and munis. Invested heavily in TIPS, which aren't tied into the value of the dollar and supposedly protect you from inflation. I did that when I heard Dick Cheney and Bill Gates were doing that. I hope that's enough.