Surprisingly, higher debt has not yet led to much inflation. It has surprised
many people. Part of that reason is we lend people money in our own currency (or
we'd be as dead as Greece already). However, if we keep loading up on debt
this way, the US dollar will stop being a reserve currency, and at that point,
watch out! We will go into a free-fall.If that happens, none of the
solutions in here will save you. Make sure you have a useful skill set for work,
stay out of debt, stash away some decent savings, have proper food storage and
other needed supplies. And hold on tight.
Proper food storage? People try to convince me there isn't an apocalyptic
streak in Utahans but it's there.
Not much inflation? Been to a gas station or a grocery store lately?
@hutterite apocalyptic thinking is built into many Utahans deeply
held religious beliefs, with no apocalypse not second coming. You are never
going to connivance them the world is not ending.
If Romney is elected and cuts taxes for those at the top of the heap, we'll
need all the preparation we can get.But if we follow Glen
Beck's advice and hide some gold bars in our stored wheat, we'll be
okay.Right?Yeah, right . . . . .
I was out of work for nearly a year and because of "proper food storage and
savings" and unemployment insurance, i was able to make my house payment,
keep my health insurance and feed the family. The concept of food storage of
staple food items (flour, rice, grains, cooking oil, sugar, etc) is a solid
practice that's saved a lot of people in times of need. You can
mock all you like, but it's actually a principle of economics that having a
store of essential items insulates you from market volatility. I've never
needed gold bars (though if someone wants to give me a few, I'm okay with
that... ;) but things I use daily are best stored because then I don't end
up going to the store every other day. I can look for the best deals.Like the scripture says, "Fools mock, but they shall mourn." Make fun
all you like, but it's a bit like a falling man making fun of gravity. Put
aside your pettiness and take the steps necessary to protect your family. Tough
times are a fact of the times in which we live.
These laws that everyone talks about have been in force for over 30 years as a
tax liability are not taxes. They de-fund the SSA, Medicare, Medicaid, not as
tax cuts. It strips money from your SSN account and health care plans to retire
on a small income. Actually allowing this law to deduct funds for the social
programs of retirement will reduce tax liability as deferred retirement
funds.Tax hikes will be for HCA(Obama/Romney care) not in this tax
law.The only safe way to meet this change is to get rid of debts and
credit cards and debit ATM cards. If you think of your take home pay as your
money to take control of will make it a lot easier to get rid of paying banks a
large fee to be your accountants. Your actual expendable funds are not what debt
makes them seem and is safe to carry in your pocket. Except for home
and car payment you should have no other debts or liability. Save and pay is
very simple and easier financial planning. Incomes $65k-$100k/yr should not be
gambling on wall street.
Re: Phranc SALT LAKE CITY, UT"alarmist much?"The Obama
Administration has been spending money they don't have like a drunken
sailor. Sooner or later somebody is going to get stuck paying the bar tab .....