Quote:
Originally Posted by Ethersync
I am following this crisis pretty close. It's looking more and more like we are completely fucked. All I can offer as advice is pay off your debt if you can. If you have a house you can now barely afford dump it. If it's hard to make the payments now it will be impossible in the not-so-distant future. If you decide this is the route to go save, as cash, the money you would have paid to for your mortgage. You may be able to save up 10 months of rent before getting foreclosed on. Do not touch this money. Use it only for emergencies.
Also, trim your monthly expenses, cut out vacations and stop spending your "free" time watching TV when you need to be finding other ways to make money.
Are things really so bad? Yes, they are worse than people think. I had a bit of hope that Obama may be able to fix things, but I do not now. Seems he is prepared to make a massive grap in federal powers. So far 6 states have started legislation reaffirming their sovereignty and reminding the federal government that they have LIMITED powers over the state as per the constitution.
Last of all keep a stash of cash at home. As much as you can.
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Cash at home is not such a good idea for various reasons:
-people can steal your money
-it's not insured / guaranteed there
-if all people would do that; all banks worldwide would fall at the same day since banks loan out 10$ for every 1$ they have in your savings (in most countries that is)
But I agree on the fact that domino blocks are still falling and we have not seen the end of this crisis. People that lose a job, spend less >>> less spending means shops going out of bizz and the whole circus starts again there when they get unemployed.
This is by far the most complicated problem the world ever experienced and I don't think there is ONE (quick) way to solve it. Only if all people in the world and all governments would work together in this it just might have a chance after all "money leaks and fraude at financial institutions" have been eliminated so stuff can be rebuild by the truly honest.
Now everybody is trying to avoid ending up with worthless subprimes and ponzi's. Maybe if the world would just share the entire losses, we could reboot this shit and get rid of the blue screen.
Maybe the maya's were right (I actually read the books...it speaks about all lies and greed have to die to be replaced by honest true civilisations...not so much about real natural disasters...so if 2012 is within 4 years...coincidence??).