Fighting The Debt Tsunami
Guest Post by Dennis Miller at Miller On The Money
The US government is spending borrowed money into oblivion; the debts will never be able to be repaid. Whether it is default, Venezuela-type inflation, or both – we’re all going to suffer the consequences.
Chuck Butler recently discussed how inflation, and losing the dollar as the world’s reserve currency, will impact everyone’s standard of living. Some will fare better than others.
Chuck concluded with:
“Get out of debt as soon as you can…. I can’t stress that enough…being debt-free will help keep a roof over your head and some control over your life; you’ll fare much better than someone with big debt and servicing costs….”
It’s no fun writing about the failings of government, 5 banks controlling over half the nation’s wealth, the top 1% share of wealth grows exponentially – while the rest of us lose buying power and seeing our standard of living decline.
When Chuck encouraged me to start writing 9 years ago, he reminded me to continually share my life experiences, trying to help readers through the choppy waters.
Lately, implementing his advice is becoming a real challenge. Sure, we can suggest readers buy gold, inflation protection assets, and hunker down – but – is that enough?
Getting out of debt, not renting money is the biggie…. The day Jo and I became debt-free was a major milestone; changing our lives and stress level forever. Yes, we really did feel more control over our lives.
A challenging process
I’m reminded of the Oscar Wilde quote, “Experience is the hardest kind of teacher. It gives you the test first and the lesson afterward.”
Suggesting readers get out of debt, reminds me of my annual physicals. First thing, get on the scale, realize I’d gained 5# from the previous year. The doctor would urge me to lose weight, give me a diet that I’d follow for a few weeks before giving up.
I’ve never forgotten the critique at the end of one of my seminars– “Lose some weight fatso!” Whoever wrote it was right, obvious every time I looked in the mirror.
Suggesting readers become debt-free is like telling fatso me to lose weight. I knew what I had to do, but lacked the willpower, or a reasonable blueprint on how to get it done.
Today I want to share some “debt experiences” that turned into lessons– that I wish I had learned much earlier.
A great collapse and restructuring seems to be the plan. Few ever talk about how debts of 3rd world nations get reduced or canceled by world bank / IMF / Brussels , but always in exchange for :
Partial of full loss of sovereignty.
Selling off rights to that nations natural resources.
Mandates on other domestic areas ( Population Control , State. Dept. Office of Population Affairs : Kissinger )
Some form of this lies ahead.
They also need to stop referring to it as “debt forgiveness” or “debt cancellation” and start calling it what it is…debt default. Default has consequences, forgiveness sounds like a virtue.
The only hedge against the debt tsunami is investing in lead.
Follow me for more apocalypse survival advice.
If you don’t pay off your debt you are retarded!
” . . . being debt-free will help keep a roof over your head . . .”
The (“paid off”) roof over my head is the reason I have debt which cannot be discharged, no matter how much or how long I pay.
Please elaborate sir… interested in your perspective…
I, like most of you, do not actually have full title to my real property. The Lords in the Big House downtown will have their land rent, or put me out.
It’s almost enough to drive me to Alaska.
Almost.
Yes, when I write that annual property tax check it makes me want to run over stop signs and load the cooling tower basins of school buildings with toilet paper and sawdust.
In reality, you don’t own anything unless you can kill whomever intends to take it from you. An ancient truth.
“cooling tower basins”
?
If our money is created from debt how will we have any money if the debts are paid down?
“Get out of debt as soon as you can”,are you fucking kidding me?!
Melt your cards down on food/meds/tools/clothing ect.,burn your credit to the ground!
I say when the chaos hits which will include bloodshed/insanity ect. the last thing I am worried about is debt collectors!
That said,you did buy a little extra ammo just in case a pesky debt collector comes around………,right?!
What one should be doing is building/safely expanding tribe!
That intelligent army could be a great asset in the coming storm.
Make them your allies, and they will help you in some useful capacity.
If nothing else, you won’t have a feral cat problem. Or any other small vermin problem.
When there are bodies left on the sidewalk, banks are locked down, and cops have a hand-sanitizer-dispensor molle’d onto their vest…
They will still collect on debts. It doesn’t even matter if you’re paying them off like a good little boy.