Phantom
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- Jan 9, 2008
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Consumer Debt Grows to $2.52 Trillion
- Thread starter Phantom
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ToryNotion
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- Jan 25, 2008
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Credit card debt has been securitized just as mortgage debt has been so as credit card debtors default these securities lose value and the downturn widens.
How do we prepare ourselves
This is very scary news. I want to know, what can one do? I just feel like a passenger in a crashing airplane, helpless and I have no control over anything to prevent it.
Look, I know we should invest in gold and silver, but like most people, I live paycheck to paycheck. With the slowing of the current economy, I've had to find side work to just pay my bills as I've now tapped into credit cards to try to pay for my mortgage/day to day living. I got not 1 penny to "buy gold" so it seems moot.
And then the price of gold is at what, $900 to $1000? How much will my scraped pennies get then?
And, if we did have gold/silver, what will that do with an economic collapse? I would think all those who have no money would come gunning for those who own gold or the govt. would simply take it, just like that guy who coined those Ron Paul coins.
So I want to ask this and possibly start a mini-thread on this. What power do we average folk really have? I'm afraid this is all that's gonna happen anyways: "http://www.youtube.com/watch?v=M1EdC5y8EGU"
This is very scary news. I want to know, what can one do? I just feel like a passenger in a crashing airplane, helpless and I have no control over anything to prevent it.
Look, I know we should invest in gold and silver, but like most people, I live paycheck to paycheck. With the slowing of the current economy, I've had to find side work to just pay my bills as I've now tapped into credit cards to try to pay for my mortgage/day to day living. I got not 1 penny to "buy gold" so it seems moot.
And then the price of gold is at what, $900 to $1000? How much will my scraped pennies get then?
And, if we did have gold/silver, what will that do with an economic collapse? I would think all those who have no money would come gunning for those who own gold or the govt. would simply take it, just like that guy who coined those Ron Paul coins.
So I want to ask this and possibly start a mini-thread on this. What power do we average folk really have? I'm afraid this is all that's gonna happen anyways: "http://www.youtube.com/watch?v=M1EdC5y8EGU"
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