Are you ready while economic crisis is coming?

I've already cut my expenses to the bone and started stashing away even more money. I've found different ways to make little amounts here and there that add up and I save it all. I want to be ready if something bad happens. I've already stashed food and water enough for a couple of months.

I guess I can say I am half ready as I am quite a prudent person and I save all along now. However, I couldn't prevent if my relatives or family members in need of money. So I guess we really have to endure this upcoming crisis with strong heart, determination and try reduce spending as much as possible now. Besides, is it very crucial to read all the upcoming news so that we could be more well-prepared and alert!

NO i dont think so anybody was ready for this crisis. Infact not much data was available on the extent of the damage big insurace companies and banks had suffered. Now the data is out but still everyday we hear some more large financial instituions taking the hit. I personally have some money invested in the stock market and have lost more than half of the invested amount. I have nothing to worry although as i have kept a good amount to cash to average out my investments and have a capacity to hold the stocks for a long term. But surely i know i could have gained much more if i was fully in cash at this stage. As far as the economy is concerned we are sure to find a downward revision in exports. Companies who are highly dependent on exports,especially information tech companies could witness a negative growth rate. I was shocked when the news came that AIG is close to bankrupsy. All our insurance companies are reinsured through this company. Surely the impact would be felt and it would take some time before the world stabalises from this downtrend. The fall in commodity prices of base metals and increase in the price of gold a safe heaven in turbulent times is signalling where we are heading.

I am definitely not ready for the downfall of the economy. It has been in horrible shape for years and gas prices have taken up all of our extra money. the high cost of food has also taken a toll on us. My husband lost a good paying job also and we now work seven days a week to make ends meet.

im not ready but im more ready than most since i have money saved.. but i still am freaking lol

Unless you are a very disciplined, life long saver or rich, I don't think anyone can be "ready" for the type of garbage that's be happening. I certainly tried to prepare but this was unforeseeable to the average person. Only the criminal CEOs and the powers that back them knew what was going on. I hope they all get jail time!