"Even if the job goes away I'll be alright, because I'm not afraid to wait tables (or perform any other type of manual labor)."
I think the unskilled labor jobs would be even more scarce than other jobs in a depression. It would work if you own a farm, so that you could turn manual labor into food directly, I suppose.
Bravo, it's good to know I'm not the only one who knows the value of a cheap house and ikea futon (I still sleep on mine, and love it).
In fact, I have two kids who don't mind all the missing furniture, they still seem to be able to build just about anything out of their mattresses and a few sheets.
I didn't buy a house I couldn't afford and I went without when I could (even went so far as to live in a small room rented from a friend, where I slept on a $150 futon from Ikea for over a year and a half [this was during 'good times']).
All this talk about bailouts is very upsetting to me. I never asked for anything when I didn't have anything.
A very small bitter part of me wants the country to fall apart. If it does maybe people, will stand to the challenge, by standing with one another and overcoming. If not then maybe at least the glow of their reality tv will keep them warm.
There is no rational in going into a panic. This is a financial problem. It's not like people are dying en masse as a direct result from this.