Workin' for a living...getting harder to do

Barrow County cuts employees' pay















Madison County School system under hiring freeze



How is it where you are?

We're broke. Stock up. NOW

From Matt over at Peak Oil: Life After the Oil Crash:

"If you've been reading LATOC or any other (reality-based) energy sites, then you are familiar with the concept of energy return on energy invested (EROEI). Once a closed system's EROEI falls below the break even point, the system is no longer viable."

"Well the financial world has something similar to EROEI which is the amount of GDP generated for each dollar of debt injected into the economy. For lack of a better term, I will refer to this as "MROMI". Not unlike the EROEI of U.S. oil fields, he MROMI of our financial system has been steadily declining for over 50 years. Worse still, here is a chart showing that the system has hit "zero hour"..."

"What does this mean - on a pragmatic level - for the typcial LATOC reader? Well pretty much the usual which is the system is going down and so you should be doing whatever you can realistically do to prepare for major breakdowns in globalized systems of finance and food. If you want to discuss the "monetary flat spin" that we've entered, check out the discussion going on about it right now at the LATOC Forum and the original one over at the Ticker Forum."

Source/Author: Matt at LATOC.

Financial headlines today:

Mike Ruppert: "Economic collapse is accelerating . . . you can expect major breakdowns in daily life likely within just a few months"

Bloomberg: Global Order at Risk as Financial System Cascades Into Crisis

International Tribune: Rapid Collapse of Mexico a Top Fear for U.S. Military

Washington Post: More and More U.S. Consumers Seen Hunkering Down

Are you hunkered down? I am. Start saving! Stop spending! Plant a garden! Stock up! When? NOW.

We're in a Depression now

Remember, a bare few weeks ago Bush was insisting we were not even in a recession. Now there is an explosion of articles questioning or declaring that we are not only in a Depression but that it will likely be worse than the first one. Also, the end times prophecies tell us that the times will be hard, and I'm talking HARD.

Worse than the Great Depression
Second Great Depression in Detroit
Was 2008 the beginning of another Great Depression?
The Subprime Crisis and the Great Depression – How Similar Are They?

So, it's time to alter usual behavior. Cut back. I suggest strongly that it is time to think about putting in a garden. I have been researching garden items for my area and herbs too. As soon as I catch up with my landlord I'll ask him if I can put one in. If not I'll do it at a friends' house who lives very close, who has already offered.

I am using the God-given sunshine here in this warm-weather state to dry my clothes. It's 70 degrees here today and the first sun we have had n a week and a half, not that I am complaining about the rain! No way. We're in a drought. But taking advantage of what is available and free is number one in a Depression. As Depression Cooking with Clara said in one of her early videos, "anything to save anything" She as talking about, when your food has reached a boil or to a certain point, turn off the stove and let it finish cooking in its own heat. Saves gas/electricity. Anything to save anything, remember! Caption: Laundry getting dry on a sunny day. notice the hay bales, lol.

I have stopped all unnecessary spending, and I have stopped all unnecessary driving.

I found this great list of 61 things to do with baking soda. I happened upon it because I like to keep my tub clean but don't like to use poisons. Not only for the environment but because my two kittens insist on playing in the tub and in drinking from the drain. I do not want them drinking poison. Baking soda and vinegar are great, natural cleaners and do many other things around a house. Finding inexpensive, readily available alternatives for poisonous cleaning agents is a good idea in any economy.

Uses for vinegar
61 uses for baking soda

So that is a beginning. Has your behavior changed to reflect the reality of the new economy? It has for many folks around here. An article in our local paper: "Economy has many Madison Countians reluctantly asking for government aid." How about you? What are you doing to save?

Open...but for how much longer?

As a sign of the times, inevitably, my favorite internet cafe/funky restaurant/hangout is closed. Cup of Karma Cafe closed for the holidays but put a note on the door that while they are shut for the holidays, they will be thinking about whether to reopen in January. Citing "these tough economic times" they will be in "deep reassessment" which, as anyone in business knows, usually means closing for good but they aren't able to say it out loud yet.

If they indeed decide to close, I will be sad for them but proud also: they provided a great service to the town and cooked great food and offered high quality environment...they should be proud too and I hope they are.

food, timely advice from 1918 war booklet

My friends run a local online newspaper, MaineHomeTownNews. They just put up this awesome 1918 booklet about food. See scanned clip on left.

The original story at their site, "1918 war booklet offers timely advice" offers timeless advice good for today's family as well. There are more photos and great food advice at the original story. Do visit the link!

I published "Depression Cooking with Clara" a while back, too, a charming three-part series of cooking vignettes by a 90-year old woman named Clara who shares memories of the Great Depression while fixing a typical Depression meal.

Here are some Depression tips from Grandma. And also a while back I posted an entry on Victory Gardens. Save, be frugal, don't waste. And have a good day!

Well that just about sums it up

Iceland...crashed yesterday
Russia...closes markets till Friday
Indonesia closed trading, tumble 10%
UK faces the same
Japan...worst crash in decades
Asia stocks tumble
Brazil, Argentina abandon US dollar
US stocks slide to new 5-year low

And the best they can come up with is...this?

















DeesIllustration

It's not your money anymore

Didn't you know that? In the deepening worldwide financial crisis, the deputy of the International Monetary Fund announced today that in order to to shore up the financial institutions, for the good of everyone, thay just may have to grab your money. Just like that. Really. I am not making this up.

IMF tells states to plan for the worst
Financial Times of London
By Krishna Guha in Washington

"Governments might have to intervene with taxpayers’ money to shore up the financial system and prevent a “downward credit spiral” from taking hold, the International Monetary Fund said on Wednesday."

"John Lipsky, the IMF’s first deputy managing director, said: “We must keep all options on the table, including the potential use of public funds to safeguard the financial system.”

"IMF deputy managing director’s comments make it clear that the fund is open in principle to the possibility of taxpayer-funded intervention in the market for mortgage securities as well as intervention to save individual banks from bankruptcy. Mr Lipsky warned: “The risks of further escalation of this crisis are rising and decisive policy action will be needed.”

He said this crisis was different from recent past crises because both the financial markets and the banking system “have faltered simultaneously.” The first priority had to be to reverse the “spreading strains” in global financial markets and restore the functioning of the financial system in advanced economies."

Now, there is some debate among the tiny pinheads like me that 'taxpayer money' means 'already paid into public funds like transportation accounts' or if it means dipping into deposit liquidity in individual banks. Likely the former, but either way, it's not good.

I love the carefully couched euphemisms, particularly 'spreading strains.' In laymen's terms it means: "we're cooked."