Category: Preparedness Podcast

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What the Double Dip Recession Will Look Like

Sunday, August 29th, 2010

(Listen to The Preparedness Podcast on any of your favorite audio players.  Find us in iTunes here: Preparedness Podcast iTunes Link or go to PrepCast.info for direct links to the audio files.)

This is a great article that sums up how we got to where we are currently with the economy, what people are thinking about the economy and what’s likely ahead for us.

http://finance.yahoo.com/career-work/article/110344/what-the-double-dip-recession-will-look-like

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Here are the points I came away with (most of this text comes right out of the article):

Nearly two-thirds of Americans believe the economy has yet to hit bottom
A growing and vocal minority of economists believes that there will be a double-dip recession primarily because of the intransigence of high unemployment and the rapidly faltering housing market.
The cause of the 2008-2009 recession:
The first trigger was the drop in housing prices, which robbed many people of their primary access to capital. As that access disappeared, so did the availability of credit. Consumer buying power evaporated and business cut inventory and production. Joblessness rose. Finally, consumer confidence plunged.
Over 17% of the official unemployment numbers, or 1.4 million people, have been out of work for over 99 weeks, nearly 2 years.
they are no longer eligible to receive unemployment insurance benefits, unless congress extends benefits again – which just adds to this problem.
Unemployment claims are running well above expectations, and recently hit a six-month high.
There is nearly no jobs creation in the private sector.
Real estate prices continue to drop, particularly in the hardest hit regions such as California, Nevada, Florida and Michigan.
The federal, state and local governments are in no position to lend assistance to businesses, most of which lack access to capital.
Banks are not prepared to lend to small businesses, especially those with modest balance sheets and relatively low sales. This presents a problem for employment since companies with less than one hundred workers have traditionally been the largest creators of jobs.
The second dip of the recession that ended in 2009, according to economists and the federal government, is likely to begin within the next two quarters if certain conditions are met:
These conditions weren’t given, but it’s pretty obvious that the lack of recovery in key areas, like jobs and housing, are critical to a recovery.
  • Nearly two-thirds of Americans believe the economy has yet to hit bottom
  • A growing and vocal minority of economists believes that there will be a double-dip recession primarily because of the intransigence of high unemployment and the rapidly faltering housing market.
  • The cause of the 2008-2009 recession:
    • The first trigger was the drop in housing prices, which robbed many people of their primary access to capital. As that access disappeared, so did the availability of credit. Consumer buying power evaporated and business cut inventory and production. Joblessness rose. Finally, consumer confidence plunged.
  • Over 17% of the official unemployment numbers, or 1.4 million people, have been out of work for over 99 weeks, nearly 2 years.
    • they are no longer eligible to receive unemployment insurance benefits, unless congress extends benefits again – which just adds to this problem.
  • Unemployment claims are running well above expectations, and recently hit a six-month high.
    • There is nearly no jobs creation in the private sector.
    • Real estate prices continue to drop, particularly in the hardest hit regions such as California, Nevada, Florida and Michigan.
  • The federal, state and local governments are in no position to lend assistance to businesses, most of which lack access to capital.
  • Banks are not prepared to lend to small businesses, especially those with modest balance sheets and relatively low sales. This presents a problem for employment since companies with less than one hundred workers have traditionally been the largest creators of jobs.
  • The second dip of the recession that ended in 2009, according to economists and the federal government, is likely to begin within the next two quarters if certain conditions are met:
    • These conditions weren’t given, but it’s pretty obvious that the lack of recovery in key areas, like jobs and housing, are critical to a recovery.

(more…)

Posted in Economy, Jobless Rate, News and Articles, Preparedness, Preparedness Podcast, Unemployment | No Comments »

Preparedness Podcast Episode 78 – FHA and the American Job Market

Monday, August 23rd, 2010

Perspectives on America, ‘Short Takes on Wealth – 111
The American Job Market

This is Jeff Bennett for the Preparedness Podcast, with another installment of Perspectives on America, ‘Short Takes on Wealth – 111.’
Today’s topic, “FHA and the American Job Market”

In episode 109 of Short Takes, we discussed at length, a period of 17 days in 2010, of Real Estate Headlines, and how they might affect you, as a homeowner. Today, we will address, the changes on FHA loans and how they will affect borrowers and sellers, and how the current employment situation in America, is going to make things much tougher for Americans in the near future, and possibly for some time to come.

First of all…

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Posted in Economy, Jobless Rate, News and Articles, Preparedness Podcast | Comments Off

Preparedness Podcast #77

Sunday, August 15th, 2010

(Listen to The Preparedness Podcast on any of your favorite audio players.  Find us in iTunes here: Preparedness Podcast iTunes Link or go to PrepCast.info for direct links to the audio files.)

Rob and Mike discuss points about the new “Colony” on Discovery Channel and apply it to the real world.  Sometimes it helps to watch what other people do to learn what to do and, in this case, what not to do.  I think it airs on Tuesdays, but check your local listings.  You can also view it online.

This podcast is brought to you by Audible.com.  For listeners of the Preparedness podcast, Audible is offering a FREE audiobook download with a free 14-day trial to give you a chance to check out their service.  Or take advantage of their Audilble Listener Discount Gold Membership, and get the first 3 months for half price, at only $7.49 per month for the first 3 months!  To download your free audiobook today go to audiblepodcast.com/prepcast. Again, that’s audiblepodcast.com/prepcast for your free audiobook!

Things we noticed in the first two episodes of “The Colony:”

- no guns

- no fortified defense

- no leadership

- no firewatch

- being too friendly to strangers

The first and most glaring thing to us was that there were no guns.  If like either they never existed, or perhaps the producers feel that so few people own guns that it wouldn’t be an issue in the aftermath of an apocalypse.  They could have at least tried, by using Airsoft or paintball guns.

Like last season, the two biggest issues are the “colonists” chose not to have one person in charge and they didn’t set up fortified defenses.  This is particularly interesting, as I think it was the carpenter that stated, in one of those candid moments that he’s been preparing for this for a long time.  Or something to that effect.  I’m not sure if that means that he considers himself a survivalist, or if he’s just been preparing for the show.

Unlike last season, the Colonists get attacked early; much earlier than those of last season.  The second attack involved about 30 people who eventually made off with about half of their supplies or more.  The Colony had a good amount of medical supplies, but it looks like they lost all of it, and half their food supply, to the mob that attacked them.

It’s human nature to want to help your fellow man, but the first two episodes show why it may be a bad idea to do so.

Posted in Disasters, Preparedness, Preparedness Podcast, Storage, Why we Prep | Comments Off

Preparedness Podcast – Episode # 76

Thursday, August 12th, 2010

(Listen to The Preparedness Podcast on any of your favorite audio players.  Find us in iTunes here: Preparedness Podcast iTunes Link or go to PrepCast.info for direct links to the audio files.)

Perspectives on America, ‘Short Takes on Wealth – 110

A Nickels Worth of News

Daily financial headlines continue to provide a warning beacon, of things to come – but is America listening…

This is Jeff Bennett for the Preparedness Podcast, with another installment of Perspectives on America, ‘Short Takes on Wealth – 110.’

Today’s topic… “A Nickels Worth of News”

Small, midsize U.S. banks need to raise more capita

The U.S. financial system remains under stress, with small and midsize banks in particular potentially needing to raise more capital, according to a new report from the International Monetary Fund that shows the continuing strains facing the U.S. economy. The IMF found that U.S. banks need to raise about $45 billion in new capital — most of it by regional and small banks — to ride out an “adverse” economic scenario that amounts to a dip back into recession while maintaining the fund’s recommended capital ratio. (Read Full Story)

Financial regs bill ignores root problems

Supporters of the massive 2,200-page bill say it will bring safeguards to consumers which led to the nation’s current financial crisis. But critics are reluctant to believe what President Obama and those supporters say about the Chris Dodd/Barney Frank-sponsored measure. Mark Calabria, director of financial regulation studies at The CATO Institute, says the bill is worse than no changes at all. (Read Full Story)

Chavez: Financial Disaster

Anytime Congress passes a 2,300-page law that creates more than 500 new regulations and sets up a new, complicated bureaucracy, we should be nervous. And the major financial overhaul that has cleared the final hurdles in the Senate proves the rule. The legislation — the brainchild of Sen. Chris Dodd, D-Conn., and Rep. Barney Frank, D-Mass. — is the biggest overhaul of the nation’s financial industry since the 1930s. (Read Full Story)

Historian warns of sudden collapse of American ‘empire’

“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.” Ferguson said empires such as the former Soviet Union and the Roman empire can collapse quite quickly and the tipping point is often when the cost of servicing an empire’s debt is larger than the cost of its defense budget. “That has not been the case I think at any point in U.S. history,” Ferguson said. “It will be the case in the next five years.” (Read Full Story)

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Posted in Economy, Financial, Gold & Silver, News and Articles, Preparedness Podcast | Comments Off

Preparedness Podcast – Episode # 75

Tuesday, August 10th, 2010

(Listen to The Preparedness Podcast on any of your favorite audio players.  Find us in iTunes here: http://itunes.apple.com/us/podcast/the-preparedness-podcast/id300822055 or go to PrepCast.info for direct links to the audio files.)

Perspectives on America, ‘Short Takes on Wealth – 109

Real Estate: 17 Days in 2010

7/12/2010

Americans’ credit scores at new lows

NEW YORK — The credit scores of millions more Americans are sinking to new lows.

Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.

FICO’s latest analysis is based on consumer credit reports as of April. Its findings represent an increase of about 2.4 million people in the lowest credit score categories in the past two years. Before the Great Recession, scores on FICO’s 300-to-850 scale weren’t as volatile, said Andrew Jennings, chief research officer for FICO in Minneapolis. Historically, just 15 percent of the 170 million consumers with active credit accounts, or 25.5 million people, fell below 599, according to data posted on Myfico.com. More are likely to join their ranks. FICO: One in four consumers now a poor risk for lenders

This is Jeff Bennett for the Preparedness Podcast, with another installment of Perspectives on America, ‘Short Takes on Wealth – 109.’ Today’s topic, “Real Estate: 17 Days in 2010”

7/27/2010

May home prices up, but no sustained recovery

NEW YORK — Single-family home prices rose more than expected in May, reflecting robust spring sales spurred by homebuyer tax credits. (Homebuilders raising prices $500 to $1,000 per month)

May is a strong seasonal period for home sales, S&P said, and buyers who rushed into the market to sign contracts by the April 30 deadline for up to $8,000 in tax credits have until September 30 to close loans.

Home prices have essentially moved sideways over the past seven months, however, and are likely to bounce around the bottom for the foreseeable future.

“There is still a huge amount of supply on the market, and it will be a long time before they recover back to where they were before.


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Posted in Economy, Financial, Jobless Rate, News and Articles, Preparedness Podcast, Unemployment | Comments Off

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