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IMO at some point these sorts of disaster scenario thought experiments wind up in a place where if it happens, we're all pretty screwed anyways. Do I have suff
by jghn 4y ago
IMO at some point these sorts of disaster scenario thought experiments wind up in a place where if it happens, we're all pretty screwed anyways.
Do I have sufficient funds to survive for a while in a typical recessionary environment? Yes. If the shit really hits the fan, markets crash to next to nothing, real estate craters, etc and this lasts for multiple years well yeah. I'm in trouble. But that'll be true of just about everyone and we're probably looking at general societal collapse at that point.
- samsonradu 4y agoI didn't paint it as a disaster scenario. Having no emergency funds doesn't mean one will starve. Just to give some examples of a recession being worse that one expects: - I might need to sell my 4-bedroom house and move into a smaller house because I can't afford mortgage; - I might need to skip vacations this year because I got a pay cut; - I have to sell my car and use public transport because I need money and gas is too expensive anyway; IMO these are situations people are not generally anticipating or prepared for.