This article should sober anyone up about the terrible danger the supposedly "booming" U.S. economy is really in. Americans are in debt up to their eyeballs, and it's getting worse. Led by the most fiscally irresponsible government in American history, we are destroying our country by living beyond our means. The so-called "great economy" is being fueled by DEBT. Many Americans have used their houses as cash cows, riding the refinance train. (I've ridden that line myself, but usually just to lower my monthly payments.) The clock is ticking friends. The signs are everywhere.
- A real (not stated) federal deficit of over $700,000,000,000 a year.
- Record consumer debt.
- Staggering future obligations.
- The first NEGATIVE savings rate since the Great Depression.
- A housing market that's ready to burst.
The message, my few but loyal readers is this: GET YOUR PERSONAL FINANCIAL HOUSE IN ORDER. Pay off credit card debt as fast as you can. Get into safe investments. Consider some gold just as hedge. Stash some money away every pay period. Aim toward getting out of debt. (I think I'm closing in on that possibility, if only by sheer luck, not any great brilliance on my part.) Batten down the hatches, mates--the storm is a-brewin'.
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