Plan for the worst, hope for the best

[abhisec]

Fellow Immigrants,

The media has spilled enough ink about what's happening to our financial markets. To get a taste of what lies ahead, please point to this blog entry (http://gigaom.com/2008/10/09/what-startups-can-learn-from-sequoias-doomsday-warning/).

This may absolutely never happen and things will be ok again, but it would only serve us good if we are prepared. Instead of putting our heads in the sand and hoping that this crisis will go away in a couple of months...let's face the challenge, understand the situation and plan ahead....

Hence - plan for the worst, hope for the best. We need to plan for the worst case scenario and hope for the best case scenario.

Regardless of your immigration status, here are some things you can do so that you can 'sleep peacefully':

1) Keep at least 3 months of food in stock. Buy from Costco, Sam's club wherever....just keep things at hand in case food disappears from your nearby store.
2) Keep 3 months of home supplies in stock - same reason.
3) Buy gold...buy bullion, gold bars, jewelery...anything. In case the $ diminishes greatly in value, you can barter using gold and you'll still be ok.
4) Keep costs really low. That new car you were going to buy, postpone it by at least 12 months. Shop from $ store or Thrift store or goodwill store. Its ok to buy from these stores. Rich people are already buying from it. Use coupons...lots of them. See here (http://www.cnn.com/2008/LIVING/wayoflife/10/06/thrift.shops.ap/index.html)and here (http://www.cnn.com/2008/US/10/09/coupons/index.html)
5)
5) Keep at least 6 months of cash on hand
6) If you are from India, send some money back home to your bank account in india. You will get Rs 48 per dollar conversion rate (http://www.x-rates.com/d/INR/USD/graph120.html), which is a great rate, plus you'll get great savings rate (http://www.hdfcbank.com/personal/accounts/fixed_deposits/regular_fixed_deposit/regular_fd.htm)that will beat US inflation rates
7) Give your 200% to your existing job or business. Get really creative about managing cashflow and increasing revenues for you company. That will absolutely be critical for survival.

This may all sound very paranoid, but remember, only the paranoid survive. This crisis will be about survival, not about getting ahead or moving faster.

This is obviously not the most perfect plan ever built, so please feel free to add to or edit this list. We have to help ourselves and our fellow immigrants.

Keep 'em coming and good luck....

Dr. Evil

[anujcb]

What is the cost effective way to move money(upwards of 25K) to Inida? with the flexibility of moving it back..

[abhisec]

There is no ceiling - http://www.statebank.com/rem_faqs.htm#12

[hebbar77]

What is the cost effective way to move money(upwards of 25K) to Inida? with the flexibility of moving it back..

wire the money from the bank directly. All you need to know if the routing number etc... ask ur receving bank what details you need.
Word of coution: dont wire to local office and let them decide the rate, they rip you off. Choose a bank that receives money at their india office directly. ICICI and CITI are known to steal your money.

[sugaur]

Well, if you are paranoid and have also invested in stocks and are now thinking of investing into gold, then you are not very smart.
Only people who have enough left after maxing on their 401Ks, and other tax deferred income and who know they wont need the money for atleast 5 years should invest in stocks. Now is absolutely the worst time to sell off as that will gurantee you loose money. If on the other hand you have done your homework, have an emergency fund then no need to worry. Stock markets go up and they go down, and then they go up again and the cycle continues. Thats how it works. If you get in when everything is bullish and get out when the bear roar's then you shouldnt be in stockss, stick to CDs and bonds.
And dont go overboard about stocking 6 month supplies in your house. This is the US, where even the poor are Obese.
Dont worry about about US economy. It is in a rough patch but it is also the most flexible and creative in the world. I predict we will be in another bubble in the next 4-5 years, most likely related to "green energy".

[breddy2000]

This really makes us think as to why we are in this situation and why it has always been this way. Its above and beyond our current imagination

Very Thought provoking. Wud love to put this as a seperate thread, but do not see any link for creating a new thread.

Zeitgeist: Addendum
===============http://video.google.com/videoplay?docid=7065205277695921912

A lengthy video , but worth watching...

[Rolling_Flood]

.............buy up some ammo sonny boy..............'cos those supplies you hoardin', they're no good if someone comes up to you, shoots your sorry unprotected ass, and leaves you there without food or money or anything else for that matter, are they?? barter gold..............hahahahaha...............dude, if things ever get that bad, bartering is the last thing your friendly-neighborhood-guy-with-guns would do with you..............do you want me to explain at length, or do you get my drift?

are you out of your goddamned mind? do you know if food REALLY disappeared or if gas REALLY disappeared, your personal safety would probably compel you to leave here instantly?

hoard food, keep gold, be safe..............wow i want to know just what is it that you were smoking when you wrote this.

stop running around like a paranoid chicken and rehashing whatever trash you read up on or watch during the day. work hard at your job and pray you dont get laid off. thats about all you CAN do, right about now. and that 200% percent hard-work deal is such a cliche. PLEASE !!!! get your head out of your you-know-what and relax.

damn, i cant believe this was actually posted by someone............a sucker's born everyday i guess................peace out.

Fellow Immigrants,

The media has spilled enough ink about what's happening to our financial markets. To get a taste of what lies ahead, please point to this blog entry (http://gigaom.com/2008/10/09/what-startups-can-learn-from-sequoias-doomsday-warning/).

This may absolutely never happen and things will be ok again, but it would only serve us good if we are prepared. Instead of putting our heads in the sand and hoping that this crisis will go away in a couple of months...let's face the challenge, understand the situation and plan ahead....

Hence - plan for the worst, hope for the best. We need to plan for the worst case scenario and hope for the best case scenario.

Regardless of your immigration status, here are some things you can do so that you can 'sleep peacefully':

1) Keep at least 3 months of food in stock. Buy from Costco, Sam's club wherever....just keep things at hand in case food disappears from your nearby store.
2) Keep 3 months of home supplies in stock - same reason.
3) Buy gold...buy bullion, gold bars, jewelery...anything. In case the $ diminishes greatly in value, you can barter using gold and you'll still be ok.
4) Keep costs really low. That new car you were going to buy, postpone it by at least 12 months. Shop from $ store or Thrift store or goodwill store. Its ok to buy from these stores. Rich people are already buying from it. Use coupons...lots of them. See here (http://www.cnn.com/2008/LIVING/wayoflife/10/06/thrift.shops.ap/index.html)and here (http://www.cnn.com/2008/US/10/09/coupons/index.html)
5)
5) Keep at least 6 months of cash on hand
6) If you are from India, send some money back home to your bank account in india. You will get Rs 48 per dollar conversion rate (http://www.x-rates.com/d/INR/USD/graph120.html), which is a great rate, plus you'll get great savings rate (http://www.hdfcbank.com/personal/accounts/fixed_deposits/regular_fixed_deposit/regular_fd.htm)that will beat US inflation rates
7) Give your 200% to your existing job or business. Get really creative about managing cashflow and increasing revenues for you company. That will absolutely be critical for survival.

This may all sound very paranoid, but remember, only the paranoid survive. This crisis will be about survival, not about getting ahead or moving faster.

This is obviously not the most perfect plan ever built, so please feel free to add to or edit this list. We have to help ourselves and our fellow immigrants.

Keep 'em coming and good luck....

Dr. Evil

[lahiribaba]

Fellow Immigrants,

The media has spilled enough ink about what's happening to our financial markets. To get a taste of what lies ahead, please point to this blog entry (http://gigaom.com/2008/10/09/what-startups-can-learn-from-sequoias-doomsday-warning/).

This may absolutely never happen and things will be ok again, but it would only serve us good if we are prepared. Instead of putting our heads in the sand and hoping that this crisis will go away in a couple of months...let's face the challenge, understand the situation and plan ahead....

Hence - plan for the worst, hope for the best. We need to plan for the worst case scenario and hope for the best case scenario.

Regardless of your immigration status, here are some things you can do so that you can 'sleep peacefully':

1) Keep at least 3 months of food in stock. Buy from Costco, Sam's club wherever....just keep things at hand in case food disappears from your nearby store.
2) Keep 3 months of home supplies in stock - same reason.
3) Buy gold...buy bullion, gold bars, jewelery...anything. In case the $ diminishes greatly in value, you can barter using gold and you'll still be ok.
4) Keep costs really low. That new car you were going to buy, postpone it by at least 12 months. Shop from $ store or Thrift store or goodwill store. Its ok to buy from these stores. Rich people are already buying from it. Use coupons...lots of them. See here (http://www.cnn.com/2008/LIVING/wayoflife/10/06/thrift.shops.ap/index.html)and here (http://www.cnn.com/2008/US/10/09/coupons/index.html)
5)
5) Keep at least 6 months of cash on hand
6) If you are from India, send some money back home to your bank account in india. You will get Rs 48 per dollar conversion rate (http://www.x-rates.com/d/INR/USD/graph120.html), which is a great rate, plus you'll get great savings rate (http://www.hdfcbank.com/personal/accounts/fixed_deposits/regular_fixed_deposit/regular_fd.htm)that will beat US inflation rates
7) Give your 200% to your existing job or business. Get really creative about managing cashflow and increasing revenues for you company. That will absolutely be critical for survival.

This may all sound very paranoid, but remember, only the paranoid survive. This crisis will be about survival, not about getting ahead or moving faster.

This is obviously not the most perfect plan ever built, so please feel free to add to or edit this list. We have to help ourselves and our fellow immigrants.

Keep 'em coming and good luck....

Dr. Evil



Frankly if things get that freaking bad over here then all I want is enough cash to buy a one way ticket back to India. I dont want to live in a third world country (formerly first world) anymore .. oh wait maybe I can take one last loan from my credit card company to buy that ticket back home.. scew this green card crap then

Stop talking like complete morons!

[anujcb]

Check his blog archives...he has correctly predicted this would happen.

http://market-ticker.denninger.net/

[k_usa]

I came to know about this link recently from my collegue.


Check this one also.. He is also well known expert
http://globaleconomicanalysis.blogspot.com/



Check his blog archives...he has correctly predicted this would happen.

http://market-ticker.denninger.net/

[abhisec]

.............buy up some ammo sonny boy..............'cos those supplies you hoardin', they're no good if someone comes up to you, shoots your sorry unprotected ass, and leaves you there without food or money or anything else for that matter, are they?? barter gold..............hahahahaha...............dude, if things ever get that bad, bartering is the last thing your friendly-neighborhood-guy-with-guns would do with you..............do you want me to explain at length, or do you get my drift?

are you out of your goddamned mind? do you know if food REALLY disappeared or if gas REALLY disappeared, your personal safety would probably compel you to leave here instantly?

hoard food, keep gold, be safe..............wow i want to know just what is it that you were smoking when you wrote this.

stop running around like a paranoid chicken and rehashing whatever trash you read up on or watch during the day. work hard at your job and pray you dont get laid off. thats about all you CAN do, right about now. and that 200% percent hard-work deal is such a cliche. PLEASE !!!! get your head out of your you-know-what and relax.

damn, i cant believe this was actually posted by someone............a sucker's born everyday i guess................peace out.

You might be actually right about the ammunition thing. We should add it to our list. In a severe recession, crime always goes; the more severe it is, the higher the crime rate (NY Times article (http://www.nytimes.com/2008/10/10/nyregion/10crime.html?hp=&pagewanted=print))

Rolling Stone - you can absolutely choose not to heed this warning. It is a free country - it really is.