Survival in an Economic Recession
So it became a continued conversation to remember the 'days of old' and stories from our parents and grandparents about The Great Depression. I may have to write about this a bit and get your minds active in positive directions
In the 1920's federal spending was three times larger than tax collections. There were an average of 600 banks failing each year. Land and home values fell 40 percent.Unemployment was horrible because with the coming of "technology" many people were out of a job due to machines. By 1929, the richest 1 percent owned 40 percent of the nation's wealth. Middle class was comprised of 15-20 percent of all Americans. The Construction boom was over. Farmer's share of the national income dropped drastically.
An artificial boom on the stock market inflated everything for a huge fall in 1929.
More than half of all American were living below a minimum subsistence level. The Stock Market fell and the Federal Reserve cut prime interest from 6 to 4 percent. Industrial stocks lost 80 percent of their value. The GNP dropped 31 percent in 1932. Over 13 million American lost their jobs in a two year period.
I don't know about you but I don't want to go here or live like this. What will it take to get your household and economic situation in hand?
Suggestions might be to do away with credit cards. Wells Fargo argued with me for 10 minutes today as I closed my Credit Card with them. They tried everything to get me to keep it. I had to stop the agent three times and say, "Please just close the account." Terry and I have been on cash for about two years now.
Altho we continue to shop at Whole Foods, we try to stay within a budgeted amount for groceries and eating and work hard not to waste food. We are getting better each week as we learn more about what is healthy and needed and what are our wild comfort foods which tend to be expensive. I have fallen in love with split pea soup and all its wonders and it is very inexpensive to make. I made a chicken this week and it did not even taste good to me... I may be leaning more to vegetarian in old age.
Lets brainstorm some more... what can you do for entertainment that does not cost anything? God has provided us with experiences in life. Let's use the wisdom gained.
Words of the Heart,
"So, whether you eat or drink, or whatever you do, do all to the glory of God." 1 Corinthians 10:31