In Control?

[Broompilot]

In prediciting next years #s or even looking at the past as a way to estimate or judge the past I wish I could figure out just what I should do?

Trucking/Expediting is so dependent on the Economy or better yet what individual households are going to spend there $ on or if they are gona do it all.

I take it many of us (me included) are really in for a big (GIANT) shock when you really add up how much $ you have actually lost this past year in NET WORTH. (Now some might try and bragg or even lie to oneself) such as I pulled all of my money out of stocks and bonds in May, or I sold my house last year for a profit and paid off my truck, my this my that etc..

Most Americans are now comming to grips with exactly what has happened to the 401K, there house values, not including the Harley in the Garage, the Dodge Ram and wifes Camary is now well not worth even close to what they were a year ago, (like half except for the house which only lost 30% of its value.) p.s. truck values have never declined like they have in the past 4 months low freight=over supply on dealers lots. So dont think your special truck was passed over, drop your insurance value on Jan 1st cause reality is that truck is worth much less.

So is it any wonder, or just reality that I (me personally) believe that Americans are gona soon come to the reality that all of this stuff we have worked our buts off to accumiliate and pay off is not worth or brings the joy we once thought it would when we bought it? Happiness = Stuff = More work = for what we are in the midst of today?

Has this down turn made you think any different?

Here is gona be the real eye opener, just wait till we get those IOUs the Govt has been chewing out and we have to begin paying on them. You think what I wrote above makes any sense, REALITY is comming, we just got the first little dose.

So go ahead and plan and look back at those numbers, and I hope you still have some of those numbers in the Bank and not committed to those toys or to much of this or that. News today is that these rock bottom intrest rates are designed to spurr us into borrowing and spending. LIKE WE HAVE NOT LEARNED OUR LESSONS? We have to judge our income on what people are gona be doing, my bet lies on its gona be slow very slow, and if you planned for this you should be OK if not and Debt Rules you and Inslaves you? Plan accordingly I hope I am wrong but I see a continuation of people getting smarter and not opening there wallets for Visa, but come into reality of knowing what they can or cannot afford that the impulse purchasing that once ruled our society.

I really hope, that this is the best thing that could happen to all us and that we can all pull out of this together, stronger and smarter.

 

[x06col]

Not much stronger i'd imagine, but a whole lot smarter I betcha. I wuz lucky. Never got the Harley, or other big boyz toyz bug. For that i am thankfull, and for having learned the true value of a buck from my Pops whom went thru the 30's on an Iowa farm. Fortunately, I didn't view my home as a "cash cow". It was viewed as shelter and a place to raise a family and a posession of some value. Not a cow to be refinanced a few times to acquire other "things". Those that are in that category and are concerned about being homeless are certainly in a box, i'd say.

And Broom, our bill for helping out, i'm not looking forward to either.

 

[ATeam]

So is it any wonder, or just reality that I (me personally) believe that Americans are gona soon come to the reality that all of this stuff we have worked our buts off to accumulate and pay off is not worth or brings the joy we once thought it would when we bought it? Happiness = Stuff = More work = for what we are in the midst of today?

Has this down turn made you think any different?

The fact that your post worked its way to the bottom of the page with only one reply leads me to believe that most Americans are not thinking differently about accumulating stuff and they continue to gauge their worth by the things they have. While most people do not like the decline in values you describe, they show no sign of wanting less stuff. They want the recession to be over so they can get back to filling their garages and houses with stuff and then renting mini-storage to store more.

To answer your other question, no, the downturn has not made Diane and me think any different. We sold our house, cars and most household goods in 2004 because we saw a greater value in living a debt-free, property-free life on the road.

We did not do it because we saw multiple financial crises coming, but ridding ourselves of stuff and the debt stuff creates worked out well. Living within your means and saving some of the money you make is a strategy that works in good times and bad. We avoided most of the 2008 stock market decline by going to all cash before the decline fully developed. (That is not boasting or lying. It is just what we did.)

Another important asset -- the truck -- has indeed declined in value as you describe. But when we built it, we spec'ed a ten-year truck. We plan to drive the thing into the ground and expect essentially nothing out of it when trade-in or resale time comes. That zero-salvage-value assumption is built into our business plan so the decline in present-day used truck values does not directly affect us. Truck depreciation expense (replacement cost) is a planned expense that would be on our spreadsheet with or without the present economic downturn.

Here is gona be the real eye opener, just wait till we get those IOUs the Govt has been chewing out and we have to begin paying on them. You think what I wrote above makes any sense, REALITY is comming, we just got the first little dose.

You are correct. And I hate the fact that we can no longer rely on the U.S. dollar and dollar-denominated government bonds to serve as a safe haven. In an effort to protect people from the pain of excessive private debt, Bush, Paulson and Bernanke have committed the country to so much public debt that the dollar is destined to decline. It does not matter what Obama does or does not do. The die is already cast. The only way out is to inflate our way out, which means dollar-denominated assets will decline. It sucks to have to defend yourself from the U.S. dollar instead of using it to build wealth.

News today is that these rock bottom intrest rates are designed to spurr us into borrowing and spending. LIKE WE HAVE NOT LEARNED OUR LESSONS?

Apparently not.

We to judge our income on what people are gona be doing, my bet lies on its gona be slow very slow, and if you planned for this you should be OK if not and Debt Rules you and Inslaves you? Plan accordingly I hope I am wrong but I see a continuation of people getting smarter and not opening there wallets for Visa, but come into reality of knowing what they can or cannot afford that the impulse purchasing that once ruled our society.

People will slow their Visa use but not by choice. It is being slowed because banks are pulling back the credit amounts they are willing to extend to their card holders. That puts further pressure on consumer spending. When comparing previous spending levels to current levels and looking ahead with hope for an upturn, keep in mind that even if times improve spending will be hindered by lower limits on the plastic.

I really hope, that this is the best thing that could happen to all us and that we can all pull out of this together, stronger and smarter.

I hope so too but do not expect it. After 911 President Bush told Americans they can serve the country best by continuing to live normal lives and by going shopping. "Retail therapy" is not a joke for many people who see stuff as a way to make them feel better.

Tom Brokaw's book The Greatest Generation describes our parents who -- as a country -- fought World War II, lived in houses with one-car garages and were sincerely committed to making it possible for their kids to have a better life than them. Our generation is saddling our kids with so much public debt that hope for a better life is diminished. And we did it to keep our hope alive that we can still get that next house with more room for more toys.

 

[x06col]

Hey Phil, I see there wuz a load frome Roseville to CA this morning, you must have really decided to stay in for the holidays eh?

 

[ATeam]

Being out of service, we did not see or hear about that Roseville load (a pickup near home). Had dispatch called, we would have declined the load. We are home for Christmas and will be again available to haul freight on the 26th.

It is not a total break. We use this time of year, when we know we will be home, to take care of things like doctor, dentist and optometrist appointments, income tax return preparation, insurance reviews, truck maintenance, etc. Taking that MN to CA run would have interfered with several appointments scheduled well in advance.

 

[Moot]

Phil, I ran down Hwy. 52 on my way to Rochester this morning. What happened to Little Oscar's caboose?

 

[Packmule]

Phil said:
"We are home for Christmas and will be again available to haul freight on the 26th."

Phil,

I thought you had sold your Home and cars and such to be free of debt.
When I hear you refer to going home, do you mean to a Home town, or a physical location with four walls and a mailbox out front?

Just curious,

 

[bryan]

Hi

I think the only way to get the economy back on its feet is through job creation.We need to rebuild our infro-structure, create various alternitive fuel plants and go green.These projects create jobs that can't be shipped over seas and are something that we are going to have to do anyway.Kind of a pay me now or pay me later deal.

The feds can lossen up the credit market all they want, but a person would be crazy to borrow money today knowing that they could get laid off tomorrow.

I also think that the feds should quit jumping everytime the stock market drops.The Dow is viable at the upper 8000 to lower 9000 level;anybody who thought it would stay above 10,000 was living a pipe dream.I guess that why they call it getting high,but even Cheech and Chong had to come down sometimes.

We need ( a money holiday) a day that no money can change hands.Nobody can be foreclosed on and nobody can repo anything.The country needs a chance to calm down and get a grip on the comeings and goings of our money.

 

[ATeam]

Phil, I ran down Hwy. 52 on my way to Rochester this morning. What happened to Little Oscar's caboose?

I was at the gas station next door last night and did not even notice it was gone. But in this weather (snow, -30 wind chill) you don't look much past your direct route from the car to the store door and back. Nice of you to drive by and point out what is going on at home.

A high school classmate of Diane's owns and operates Little Oscar's and is doing a good job of building it back up. Word from people at home is the caboose was in need of many repairs. Rather than monkey with it, the owner sold or had it moved to someone near Hastings that owns a farm and collects such things.

For expediters that happen to be on U.S. 52 between Rochester and Saint Paul, Minnesota, Little Oscar's is a roadside diner with easy truck parking and good cooking.

 

[ATeam]

Phil,

I thought you had sold your Home and cars and such to be free of debt.
When I hear you refer to going home, do you mean to a Home town, or a physical location with four walls and a mailbox out front?

Just curious,

Home is two rooms and canoe storage space we rent on a relative's homestead. The arrangement is maintenance free for us which frees us to stay out as long as we wish. Our housing costs are rent payments, not house payments. Rent is fair market value but because we rent such little space and have shared use of the bathrooms, kitchen, etc. when we are home, the cost is low.

Home for us is a physical location; a house in which we sleep, a concrete pad on which we park the truck, a house to which our mail is delivered, a county in which we are registered to vote, and a proper residence in every other respect the IRS uses to determine eligibility for the important per diem deduction.

Except for the truck and canoe and camping equipment, we continue to live a mostly property-free life. All the material goods we own fit in the the truck or two small rooms. The garage hosts the canoe.

It is an interesting experiment getting rid of most of the things you own. As time has passed, the "important" stuff we kept gradually gets purged. Stuff you can keep in a room for three or more years without using or looking at it is stuff you can pitch, or sell on eBay if you are so inclined.

 

[iceroadtrucker]

In Control?

Of what?? Your finances of course I should hope.

Buy a House in one State and Own an acerage in another and on top of that Getting a Farm to boot.

Drawing down on retainer and in 30 be a double dipper,
was told 75 is the best to draw S&S if its around.
and still be able to work.

Have a wife that works and will be a Tripple so with that I guess that makes us a Fipple.

Even if somthing were to happen to me she still get the Retainer which turn to be SBP for her and my S&S for the Kids and the LIFe INs as well and her Tri as well.

But being in Control is to me is keeping what took me 27 years to get and not loosing it. Being in contol is if you have to double down and make concessions now (Suffer a little if You will) like give up that Dinner at the Truck stop or mind what have you. To keep sending home then that is what one must do.
I stated many times before on here thank goodness for the military Retainer as its realy helped. Comming out here was a big step down in Pay. Going from about 6 grand a month tax free which inclduded HAZ pay pro pay ect ect. to which seems poverty out here. Is why when I come out I said orginaly I needed a 1000.00 a week before taxes. Well sadly enough all the 2 owners I have worked for (Smoke and Mirrors)
get my Drift. But heads up Im still in control as adapting had to be done and concessions had to be made. Unlike many loosing or selling I refues to do that.
Worked to hard to get what I wanted to let it go.
As with the Farm or anything else I set my sights on.
with that I say to yes im in control.
Might have to nuckel down but At least Im doing it.
IN Control YA why not.
99 cent tv dinners or a micro wave potatoe and a can of Peas
oops now ya know why I work out and feel like im 16 hormones raging within HG SHHHHH dont tell no one.

Merry Christmas Everybody and Happy New Year

MRE does a body good
ROTFLMAO
sorry had to say it arkjar if your still out here. HOORAAA

 

[nightcreacher]

You separate the men from the boys,by the price and size of their toys,or in other words,the one that dies with the most toys wins

 

[cheri1122]

Wins......what?

 

[iceroadtrucker]

You separate the men from the boys,by the price and size of their toys,or in other words,the one that dies with the most toys wins

Well nightcreacher it seems U got the Toy
One Very Very Nice TRactor.

 

[ATeam]

But being in Control is to me is keeping what took me 27 years to get and not loosing it.

"In control" means different things to different people.

Broompilot did not elaborate on the "In Control?" title he gave this thread. It seems to have something to do with net worth or the true value of material goods. IRT offers what "In Control" means for him.

Our property-free, debt-free lifestyle is not about being in control. It is about being free. It's not about having more material goods. It's about having more choices and the freedom to make them.