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I'm not chicken little but I'm not walking around wearing rose colored Oakley's either.
It seems like we have gone from trying to revive the economy to trying to avoid a depression. In my opinion it's time for smart people to prepare for the worst case scenario. If the economy falls off the deep end I think it will happen very rapidly and there will be very little time for any preparation.
I would like to hear others thoughts about how you will financially or otherwise prepare for this scenario should the dominos continue to fall. It appears to me that we have about a 50/50 chance at this point and that's way too close for my level of comfort.
My thoughts at the moment are to drain all remaining credit sources and hold on to the cash before they cut off all lines. Separate "essential" bills from "non-essential" bills and hang on as long as possible.
I've gone from fastlane thinking to survival lane thinking. I don't care about the politics of the situation. If anyone thinks that this is not a possibility then please carry on and don't participate in this thread. If you think this is something to be concerned about, I would like to know what you think are some essential things that need to be taken care of now. I think all remaining lines of credit will be cut-off very soon if things don't change immediately.
It seems like we have gone from trying to revive the economy to trying to avoid a depression. In my opinion it's time for smart people to prepare for the worst case scenario. If the economy falls off the deep end I think it will happen very rapidly and there will be very little time for any preparation.
I would like to hear others thoughts about how you will financially or otherwise prepare for this scenario should the dominos continue to fall. It appears to me that we have about a 50/50 chance at this point and that's way too close for my level of comfort.
My thoughts at the moment are to drain all remaining credit sources and hold on to the cash before they cut off all lines. Separate "essential" bills from "non-essential" bills and hang on as long as possible.
I've gone from fastlane thinking to survival lane thinking. I don't care about the politics of the situation. If anyone thinks that this is not a possibility then please carry on and don't participate in this thread. If you think this is something to be concerned about, I would like to know what you think are some essential things that need to be taken care of now. I think all remaining lines of credit will be cut-off very soon if things don't change immediately.
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