Jolly John
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If people in general have made changes both in life style mobility and transportation efficiency should not that be taken into account here. No such statistics seem to be given in this article, are such available?
I would estimate that my driving has been cut by 20% to 30% since 2008. Nothing other than planing more completely and driving less as a result. Many are now downsizing their transportation with an eye to fuel efficiency. That I have not done as I see no cost effectiveness in it for myself. I estimate I have gone from 15K miles per year to under 10K. This if others are doing similarly this would certainly account for some of what is reported.
Today’s piece caught my mind. It seems to have taken off from one spot, lies and the disconect between the news and the truth. Including in this are the coments on volitility. I would hope at this point there is a general even if not particularly educated, understanding that such is the case. My take on a response is/was to get out and stay away. All the comments about lack of transparency are true, in fact I feel true for the vast majority of active market participants. Thus if you can’t see through the fog and mirrors stay away.
The second part for me was a conversation on who is going to get caught holding the big bag of losses, and who will get out in time. With all the murk it is too difficult to give a knowing answer so glad I stayed away.
Now while away most but not yet all debt has been paid off. Efforts have been made at self sufficency. Maybe a bit different approach, learn how to fix things, house and auto problems. Buy old and fix not to sell but to insure that taxes are minimized but with out giving up many of the real benifits of the material items of real use. Thus if the balloon deflates just maybe readyness will prove its worth. Yes there was some pain in getting used to the new life but that has passed.Well with the future being generally painted as terribly bleak the past seems a natural enough safe haven. Yet as a college student in the mid 1960’s I remember quite a few writers that felt we were about to starve. I Remember “The Population Bomb”, by Paul Erhlich as my biggest influence. I also remember the hands on advice of Helen and Scott Nearing and their coaching us on do it yourself and grow your own food. Many did so at least for a few years. So combine these two into hope that something may come up roses again just like our former agricultural advances and that for now we can learn to live lean and deleverage. Of course one can still get a cheap loan as to interest and keep the consumption ball a rolling.
