Tag Archives: financial crisis

How do we survive this financial crisis?

22 Sep

Ever since the systemic financial crisis has enveloped the markets, I have been wondering what steps should I take to survive the crisis. I listen to sthe so called experts but I never seem very convinced. These are the issues that I have:

  1. The government has spent about $800 billion on buy outs and has asked another $700 billion to “resolve the situation”. Total $1.5 trillion.
  2. The government has no other choice but to issue more debt to pay for this. This makes the national debt in excess of $11.3 trillion.
  3. This would result in the devaluation of the US dollar thereby making everything that we buy more expensive.
  4. This additional debt has to be repaid in some way or form by residents of this country. Would it result in higher taxes? Possibly.
  5. I am told to buy Gold or Silver but can barely pay for gas and make ends meet.
  6. If I stop paying the mortgage would I get a bailout like Wall Street gets?
  7. Do you stop paying my credit cards?
  8. Or should I file a Chapter 11 reorg and proportionately write down my debt?
  9. Is my job safe in the current environment?
  10. Why am I having to worry about issues that I did not profit from?
  11. When Wall Street was doing all this, I was told that the economy is strong while my personal economy steadily weakened. Now why is it my problem? Why do we have to bailout anybody when no one bails me out for my foolish decisions.

I would greatly appreciate your views and thoughts.