Thursday, August 09, 2007

I'm really worried for our country

People I trust are starting to agree with me that a depression is inevitable. I've been thinking this for the last 8 years or so, but I am, by nature, a pessimist.

Now, I work in the legal field - doing a mix of foreclosures, probate and estate planning (with a few other things thrown in). I figure my job is fairly secure. Foreclosures will not stop - they're only going to increase. People will continue to die and Wills will need to be probated. People will continue to need Wills, powers of attorney, living wills, etc - and people who don't get them will create even more expensive legal issues.

Mr. Gaia works for the state. I hope that his job is secure. I feel like it is, I figure the worst they will do is freeze any raises, even cost of living increases, and refuse to fill positions as they become vacant.

But I worry about our savings, etc. We've been pretty smart and stuck with credit unions. I feel credit unions will survive even if banks start to fail. Credit unions tend to have more stringent requirements for loans. In fact, in the past we've had difficulty being approved for some loans through our credit unions and we never asked for anything we couldn't afford. But where it is saved won't help if the dollar continues to tank.

This is why, more than anything else, I've been concentrating on becoming more self-sufficient.


silencio said...

Good luck!

Tanya Brown said...

Yep, I always believe that the worst is going to happen. This is particularly the case when people are in denial about the possibility of it's occurring.

Like you, I wish I knew which way to jump financially. However, being self-sufficient is a good start.