If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
I have a couple of videos to share with you in this post that should get you thinking about your near-term future. First though, I want to you get a visual of what $1 Trillion Dollars looks like. For those of you who are numerically inclined that number is $1,000,000,000,000.00. Heres the link to give you a look at how that number literally stacks up in $100 Dollar Bills: http://www.pagetutor.com/trillion/index.html. Now to put that into perspective with regard to our economy, take a look at this video clip of a recent Glen Beck show where he graphs the amount of U. S. Deb over the past 80 years: Finally, lets get a look at Jim Cramer as he comments on recent proposals to fix our economy from Washington: http://gatewaypundit.blogspot.com/2009/03/cnbcs-cramer-on-obama-its-amateur-hour.html. To summarize all of this for the time challenged: The US has piled on an unprecedented amount of debt in the form of paper money with NO visible stimulus effect on the economy, as measured by both Wall Street and Main Street activity. The likely result of this in the near term future is the devaluation of the U.S. Dollar relative to other currencies and run-away hyper-inflation. And lets not forget the proposed irresponsible massive increases in taxes that will further reduce output. So what can you do about it? Here is my short list of thoughts that I personally will be taking some action on in the coming months:
- Invest in or keep your commercial real estate, but adjust your lease rates to keep your tenants intact. Ive written a past article on how even in a declining value market, income-producing real estate protects your capital better than most other investment vehicles. You have a real asset, income, and tax benefits all rolled into one package.
- Buy some gold, preferably coins. I know it sounds doomsday, but Im being realistic here. When the paper money becomes worth less, real money protects your value. Dont go cash in your lifes savings, but have a few thousand dollars worth sitting in a safe deposit box somewhere.
- Stock up on some essential items. Again, dont think Im getting doomsday on you. The reality is that many goods are sitting in ports rather than being transported because banks will not issue letters of credit. Soon local stockpiles will be exhausted and there will be some common items missing from stores. What, I dont know. But if you love your Pop Tarts in the morning, you might want to get a few extra boxes just in case. And if Im wrong, well heck eat em up!
- Save. Yes, I know that Washington has done a 180 and is telling you to spend right when the U.S. consumer FINALLY decided to save some money. Yes, I know it will be worth less (unless you adopt #2, above), but at least you will have something. Dont believe that Big Brother Government will be able to sustain the bailouts. Like the Dot Com Bust, the numbers do NOT add up.